The World Bank has launched its new policy for Africa, which could help African economies take off, the way the economies of Asia did 30 years ago.
The World Bank’s board Tuesday endorsed the plan, called “Africa’s Future and the World Bank’s Support to it”, according to Bank Vice President for Africa Obiageli Ezekwesili.
The Bank said the new ambitious Africa Strategy marks a significant shift in the way the organization views Africa and its own role as a supporter of the continent’s progress.
The plan shifts from a more general focus on seeking economic stability and sound fundamentals to emphasize the need for attention in three key areas such as competitiveness (konkurrencedygtighed) and employment.
Uprisings in North Africa highlighted the need to address high unemployment among the youth, the Bank said, particularly for the 7 million to 10 million young people entering the labor market each year in Sub-Saharan Africa.
The Bank’s new strategy was upbeat about economic prospects for Africa and the untapped potential of a rising middle class.
Ezekwesili said the Bank is to increase its support of knowledge transfer and infrastructural growth on the continent.
– There are three main risks, including global economic instability, conflict and political violence and a lack of resources to implement our strategy. Access to information is key to sustaining development, she concluded.
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http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:22845777~pagePK:34370~piPK:34424~theSitePK:4607,00.html
Kilde: Verdensbanken