Robert Zoellick, who has been nominated to become the president of the World Bank, said over the weekend that he would make Africa his top priority and defended lending to China despite its record currency reserves and the fastest economic growth of any major economy.
Zoellick, 53, is set to take over at the helm of the Bank on July 1st as it seeks to raise more than 28 billion US dollar from rich countries to help the poorest. The leadership change has also renewed questions over whether the Bank should lend to countries like China, India and Mexico, which can easily tap capital markets.
Chinas economy has expanded at least 10 percent in the past four years. Zoellick said the Bank should continue to make loans to middle-income countries like China and not just offer advice.
Zoellick further stated that “The World Bank should strengthen its partnership with Africa and be sensitive to country-specific challenges in dealing with the continent.
Zoellick met South Africas Finance Minister Trevor Manuel on the last leg of an African tour as he garners support for his nomination. Zoellick said during his meeting with Manuel and before that with officials from Ghana, Ethiopia and other African countries, there was “a sense of need to try and speed up time for action” by the institution.
Zoellick addressed the disappointment expressed at the $60 billion package to fight disease in Africa announced by the recent Group of Eight summit, which many saw as a falling short of expectations.
– I think it is very important that countries around the globe, and not only the G8, keep Africa very much in the forefront of their focus, he said.
– It is easy in the world of global security, politics and economics for things to slip off agendas. We must keep Africa front and center, in part because I really do believe that there are tremendous opportunities here, he noted.
Kilde: www.worldbank.org
