May 17.
Selected news events for 10 May-17 May 2011.
The World Bank has revised its strategies for support to sustainable economic growth and development policies in Africa. World Bank country representative Kapil Kapoor said that the new 10-yr programme with a vision of not just ensuring economic growth but ultimately sustainability and job creation, is now more centered on the youth and poverty reduction. Among issues to be addressed are; the provision of quality education and skills development, improved service delivery, proper resource management and protection against climate change. The10-yr strategy is expected to increase at least 20 countries’ per capita income by 50%.
During the same period, the World Bank expects poverty rates to decline by 12% with at least five countries achieving middle-income status. In the implementation phase of the strategy under the first pillar, agriculture productivity, development of strong business and infrastructure development will be addressed. The bank will work in partnership with responsible governments, civil society, and development of partners and encourage private investment to be flexible and innovative. The World Bank will also seek to assist Africa with infrastructure development, which is estimated to need USD100bn annually. (TZ, 12/05)
African countries have called for a better deal with the US in the African Growth Opportunity Act (AGOA). They feel the trade preference pact should be of more benefit to sub-Saharan countries. Speaking at the opening of the AGOA commerce ministers’ mid-term review meeting in Lusaka recently, the AU, COMESA, UNECA and host, Zambia, said the preference trade deal needed adjustments. The AU Ambassador to the US, Amina Ali, said there is a need to address the market access challenge that African countries are facing despite there being some trade incentives like employment creation. Members plan to set a common agenda ahead of the AGOA Summit proper in June. …
See the full African Telegraph
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