World Bank suggests African infrastructure improvements
27 August 2010
African governments have been advised by the World Bank that improvements in the quality of their infrastructure - such as roads - will help them become more competitive in trade, as demonstrated by countries such as China.
Ngozi Okonjo Iweala, managing director of the association - which provides developing countries the world over with technical and financial assistance - told delegates at Washington's Agoa forum this Asian nation has proven that it is necessary to provide means for the transport of goods in order to become involved in business, the Daily Monitor reports.
He went on to note that simplified export and customs procedures are needed in order to move products quickly across borders and reduce costs.
"Better logistics are strongly associated with trade expansion, export diversification, attraction of foreign direct investments and economic growth," Mr Iweala remarked.
The World Bank has also just approved a grant of $7 million (£4.5 million) for the north Gaza emergency sewage treatment project.