Friday, April 4, 2008

Zoellick's 1% deal: $30 billion to sub-Saharan Africa

According to a World Bank press release, Rob Zoellick, the World Bank chief, pledges to work with sovereign wealth funds to invest 1% of their assets in sub Saharan Africa.  

“Today, sovereign wealth funds hold an estimated $3 trillion in assets. If the World Bank Group can help create the platforms and benchmarks, the investment of even one percent of their assets would draw $30 billion to African growth, development, and opportunity,” he said.

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