Media contact in Brussels: Amadeu Altafaj 32 498 95 26 58 Amadeu.ALTAFAJ-TARDIO@cec.eu.int Media contact in Washington: Tim Carrington 1 (202) 473 8133 tcarrington@worldbank.org
Washington, April 18, 2005-- The European Commission and the World Bank agreed to an intensified partnership to support Africa’s push to accelerate economic growth and make faster progress toward achieving the Millennium Development Goals. The Commission and World Bank said they will work more closely to support African countries’ development priorities, particularly in the critical areas of infrastructure, trade and regional integration. Representatives from the two institutions also stressed that improved governance and strengthened capacity were crucial to successful outcomes in each of these areas. The European Commission and World Bank are the two largest sources of development aid to sub-Saharan Africa. The potential benefits to Africa of strengthened coordination and collaboration in EC and Bank development support are considerable. The agreement stemmed from a meeting of Louis Michel, European Commissioner for Development and Humanitarian Aid and Gobind Nankani, Vice President for the Africa Region at the World Bank. The discussion, taking place within the IMF/World Bank Spring Meetings, builds on a strong working partnership between the two institutions, and follows consultations in January laying the groundwork for enhanced collaboration in Africa. The discussions took place against a backdrop of increased attention to the development challenge presented by Africa. Both the EC and the World Bank are in the process of formulating strategies for investing additional resources in Africa’s development. Beyond these efforts, there has been a succession of analytical reports centered on Africa’s development needs, but also the opportunities for accelerated growth and sustained poverty reduction. Recent reports by Jeffrey Sachs and by the World Bank have underscored the urgency of mobilizing new support for meeting the Millennium Development Goals, particularly in Africa. The Commission for Africa has called for significantly increased development assistance for the region, making specific funding recommendations to be taken up by the G-8 industrialized nations at its summit this summer. “Together we represent a critical mass which can make a real difference for Africans in daily lives,” said Mr. Michel. “We need more resources, rapidly mobilized, and coordinated more effectively—the partnership with the World Bank moves this agenda forward.” “As Africa’s international partners scale up development programs, it will be crucial that we retain our focus on country-owned, country-specific strategies for shared growth,” said Gobind Nankani, World Bank Vice President for Africa. “Our experience tells us that countries themselves are the best positioned to identify the obstacles and opportunities they face, and to fashion strategies for meeting the MDGs.” Officials from the EC and World Bank plan to meet in Brussels next month to develop specific modalities for collaboration in the key sectors. Officials will identify programs that lend themselves to innovative support mechanisms drawing on the distinct strengths of the two institutions.
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