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Aid flows, debt relief, and economic growth on the rise in Africa, but threats to poverty alleviation remain: World Bank Report.

Publication: M2 Presswire
Publication Date: 30-JUN-05 		Format: Online - approximately 1064 words
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-30 June 2005-WORLD BANK: Aid flows, debt relief, and economic growth on the rise in Africa, but threats to poverty alleviation remain: World Bank Report(C)1994-2005 M2 COMMUNICATIONS LTD

RDATE:29062005

WASHINGTON - Net aid to Sub-Saharan African countries rose about 40 percent in 2003 - five percentage points higher than in 2002 - and the continent received greater debt relief over the same period, according to the annual World Bank publication, African Development Indicators (ADI) 2005, launched today.

"There is no question that there is an enormous, compelling moral urgency to the conditions of Africa and there is no question that there are needs. But there is a lot more going on than just need. Africa may be on the verge of being a continent of hope," said World Bank President Paul Wolfowitz.

The region's economic growth accelerated to 3.9 percent in 2003, up from 3.4 percent in 2002, the report says. According to ADI 2005, the gross...

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