In spite of the promises made in 2005 during the G8 summit in Gleneagles, Scotland, the amount granted to development programs for many African countries remained virtually unchanged.
Rich countries are NOT keeping their promises with respect to aid to Africa and the opening of their markets to African exports, stated World Bank Chief Economist for the Africa Region, John Page, on Sunday, in an official statement.
Many donor countries have increased support for special humanitarian assistance and debt reduction over four decades, but, unfortunately this does not translate into additional resources for African countries to rebuild their infrastructure, train teachers and combat HIV/AIDS and malaria, he emphasized.
However, for their part, African countries are pushing improved governance, and in many case a significantly more hospitable environment for investment. – The question is less whether the Africa partners are delivering on their promises, but whether the wealthy industrial nations are honoring theirs, he said.
With Africas economic prospects high on the G8 agenda, the World Bank noted that despite the 2005 Gleneagles Summit, resulting in pledges to increase Africas development aid to 50 billion US dollar (275 milliarder DKR) by 2010, foreign assistance for development programs in many African countries remains essentially flat.
Meanwhile, the faltering trade talks under the World Trade Organization’s Doha Round have been another disappointment.
While donor aid is lagging, the World Bank said that progress in lowering debt burdens for Sub-Saharan Africa has moved ahead somewhat faster. Multilateral debt relief undertaken by the World Bank, the International Monetary Fund and the African Development Bank will bring about the full cancellation of 50 billion dollar of debt over 40 years.
Beginning in July, 2006, when the initiative took effect, 16 African countries have benefited. Another 17 will become eligible once the completion of debt reduction programs under the World Banks Heavily Indebted Poor Countries Initiative.
Kilde: www.worldbank.org
