Jeffrey Sachs: China has left the west on the sidelines in Africa

One of the most riveting moments of the MDG summit came when a senior adviser of the China Development Bank set out some of today’s global realities. She explained on Tuesday that the Bank has $600bn of assets and plans to boost its Africa portfolio.

She noted China’s world-leading speed in building infrastructure, and its intention to help do so in Africa. And she expressed China’s intention to work not only with national governments but also with international institutions, including the World Bank and the African Development Bank, to get the job done.

The room was electrified, as it were, by the prospect of Africa being electrified so rapidly, with China’s investment, technology, and support. The World Bank, African Union, and African Development Bank had projected a series of maps on the screen indicating Africa’s needs for regional roads, rail, power, and fibre optic grids.

Suddenly, all of it seemed quite doable, in a new world economy in which China uses its vast reserves, talents, and economic interests to help get the job done. read more...

Africa's Pulse

Analysis of development trends shaping Africa's economic future (World Bank - April 2010):

The analysis takes a look at the followings:

1. Recent Economic Trends and Prospects
- Economic Recovery
- Africa's policy response to the crisis
- Risks to economic prospects

- Debt sustainability

- Aid flows lag commitments

2. Africa and the Millennium Development Goals
- Poverty

- Human development goals

Medium-term Challenges

- Infrastructure gap
- Investment climate
- Agriculture

- Governance
3. Yes Africa Can: Success Stories from a Dynamic Continent

- Rwanda: Improving health through results-based financing

- Mobile payments go viral: M-PESA in Kenya

- Tourism in Cape Verde

- Mali: Linking mango farmers to markets

Read complete report here
More on the World Bank in Africa: www.worldbank.org/africa