4.2.08
Sovereign Wealth Funds Should Invest in Africa, Zoellick Says Outlines plan to advance development in face of market turmoil, high food and energy prices.

World Bank Group President Robert B. Zoellick outlined a plan today for sovereign wealth funds to invest one percent of their holdings in equity in sub-Saharan Africa as a way of tapping long-term global liquidity to boost investment opportunities and development.

+ AUDIO(26min)

Video highlights Robert B. Zoellick's speech at Center for Global Development, Washington DC, April 2 2008

World Bank President Robert B. Zoellick today called for a new global deal on food in the wake of skyrocketing prices that hurt the world's poor. To help boost investment and development in Sub-Saharan Africa, Mr Zoellick outlined a plan for sovereign wealth funds to invest one percent of their holdings in equity there. He also warned the time was "now or never" for a deal on the Doha round of trade talks.