These are the prepared remarks of Robert S. McNamara, President of the World Bank, International Finance Corporation, and the International Development Association (IDA). He declares that our common enterprise is to drive back poverty, to lift living standards and to enhance the dignity of man....

. In 1990-1991, worldwide military expenditure amounted to $950 billion. This bill could be reduced by the year 2000 by over $300 billion.. . Excessive military expenditure jeopardizes development prospects. . Policies to achieve transparency and to strengthen military security arrangements...