NAIROBI, Aug. 11 (Xinhua) -- World Bank Group President Robert B. Zoellick
will begin a three-nation African tour this week to encourage investor and donor
support to help the worlds poorest continent cope with the global economic
crisis.
A statement from the World Bank Kenya office received here on Tuesday said
during his visit to the Democratic Republic of Congo (DR Congo), Rwanda and
Uganda, Zoellick will see up-close some of the damage the financial crisis has
wrought on these three countries of Africa's Great Lakes Region.
Ahead of his trip, the World Bank president encouraged investors to take
advantage of investment opportunities that continue to beckon from Africa
despite the crisis.
According to the statement, opportunities exist even in African countries
are still mired in, or emerging from conflict, such as DR Congo, post-genocide
countries such as Rwanda, and relatively stable countries such as Uganda.
"Some of the biggest gains in fighting poverty in Africa can be made if
investors and donors boost support for agriculture, helping Africa achieve food
security, while improving rural incomes and facilitating post-harvest marketing,
conservation and agricultural processing," Zoellick said ahead of the trip.
The funding most urgently needed should help expand Africa's share of
global and intra-African trade, foster regional integration, curb armed
conflicts, and build the crucial infrastructure in energy, transport and
irrigation to promote manufacturing and industrialization on the continent, he
added.
The World Bank president is visiting Africa weeks ahead of the Group of 20
summit in Pittsburgh in September this year.
The World Bank Group support for Africa is mainly provided through the
International Development Association (IDA) and the International Finance
Corporation (IFC).
IDA provides grants and low-interest loans to the worlds 79 poorest
countries, half of which are in Africa.
IDA has over the last year committed more resources than initially planned
in order to help African countries cope with the negative effects of the global
crisis.
Special Report: Global Financial Crisis
