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Monday, 23 April 2012

World Bank Removes Nigeria, Others From Aids’ List

Developing countries including Nigeria are no longer candidates for charity and aid from developing countries, the World Bank has said.

The outgoing World Bank President, Robert Zoellick, disclosed this at the on-going International Monetary Fund/World Bank Spring Meetings in Washington DC, United States of America.

Specifically, he said since the "developing countries have provided two-thirds of global growth over the past years, these are no longer charity cases."

Noting that developing countries "are vital to the world economy," Zoellick, whose five-year tenure elapses on June 30, this year, nonetheless, stressed the need for both developing and developed countries to focus on structural reforms that will be the drivers of future growth, "otherwise the world will keep stumbling along."

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