The World Bank’s Diminishing Role in Africa
Two recent African events illustrate how much the landscape for development finance has changed — and what role the World Bank will play in the future.
In May, the bank’s president, Jim Yong Kim, pledged $1 billion to help bring peace to the Great Lakes region. Mr. Kim’s pledge was made in the Democratic Republic of Congo’s capital, Kinshasa, on a trip in the company of the U.N. secretary general, Ban Ki-moon, that also took in neighboring Rwanda and Uganda. Earmarked for financing health and education services, hydroelectric projects and cross-border trade, the loan is intended as an incentive to end Congo’s violence, despite the country’s endemically poor governance: The D.R.C.… Seguir leyendo »