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Business News - Bank mulls Africa role with China

China will back the bank’s international development arm The head of the World Bank, Robert Zoellick, has agreed with China to develop joint aid projects in Africa.

China has been criticised over its condition-free aid and lending to the continent, as it seeks energy sources and raw materials for its industries.

Mr Zoellick, ending a four day trip to China, said he had discussed the need for Beijing to now not lend more to African nations than they could repay.

China will donate to the bank aid fund, having received aid itself until 1999. Mr Zoellick said China’s moves in Africa had been a topic during his talks with senior officials including China’s Export-Import Bank governor Li Ruogu.

“Governor Li and I both agreed we should try to develop a project or projects in Africa during the course of the next year,” Mr Zoellick said.

He said the World Bank could help train sub-contractors so Export-Import Bank could hire more African workers.

 

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