World Bank working with China on jointly funded projects in Africa

By bne IntelliNews February 4, 2010
The World Bank is working with China,including jointly funded projects, in Africain a bid to develop the manufacturing sector and transform some of the poorereconomies on the continent. With the exception of South Africa the legacy of colonialrule has left many of the sub-Saharan African countries reliant on the exportof raw materials such as oil, gold and cocoa, and in need of importing basicmanufactured goods at higher prices. They believe that developing themanufacturing sector will reduce the trade imbalance as well as create jobs andstimulate the economy further.
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