James D. Wolfensohn, President of the World Bank Group, presented a progress report on his first year in office. Six immediate priorities were addressed: IDA, debt problems of the poorest countries, expanding partnerships, accelerating private sector development, doing more in post-conflict situations, and creating a "results" culture within the Bank Group. He set out the strategic agenda for the next year, covering four themes: a new donor and investor compact of development resources for the world's poor (The New Compact), a more integrated approach to sustainable development (The New Paradigm), strengthening partnerships (The New Knowledge Partnership), and pursuing a culture of excellence and results (The New Bank).