The World Bank is planning joint projects in Africa with China's Export-Import Bank to address concerns that Beijing is taking more than it gives as it scours the continent for oil and minerals. World Bank President Robert Zoellick, wrapping up a four-day trip to China, said the pros and cons of the country's push into Africa had been an important topic during his talks with senior officials including Ex-Im Bank Governor Li Ruogu. Chinese investors were building infrastructure and generating revenues for poor countries. But tapping Africa's natural resources also highlighted the need to ensure transparency and avoid corruption, Zoellick told a news conference.
"Governor Li and I both agreed we should try to develop a project or projects in Africa during the course of the next year," Zoellick said. He gave no details but said he had discussed with Li how the World Bank could help to train sub-contractors so that Ex-Im Bank can meet its goal of employing more African workers.
Here's a good
example of when "yes" doesn't mean "yes".
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