Established upon the initiative of the President of the World Bank in 1967.July 11, 2003. In August 1968, Former Canadian Prime Minister Lester B. Pearson accepted an invitation from Robert S. McNamara, then President of the World Bank, to form a commission to review the previous 20 years of development assistance, assess the results, and make recommendations for the future. Pearson was a former diplomat and Nobel Peace Prize winner who had played an active role in UN affairs. On September 15, 1969, slightly more than a year after McNamara’s invitation, Pearson and seven colleagues on the Commission on International Development which became known as the Pearson Commission delivered their report, "Partners in Development."