IFI governance

News

World Bank launches new Africa strategy

5 April 2011

In March, the World Bank launched its new Africa strategy, outlining three main areas in which it will focus its operations: competitiveness and employment, vulnerability and resilience of citizens, and governance and public sector capacity. However, a major focus is on “leveraging partnerships”, including how to ”leverage the Bank’s financing to crowd-in other sources of private investment.” Dr. Kwame Osei, writing for the website Modern Ghana, observes that “This new approach from the World Bank will never enable Africa to develop at a point where inordinate poverty [and] disease … will be eradicated” (see Update 62).