Syndicate content

Add new comment

Submitted by Phil Hay on
Great comments from readers to this blog so far. For example, I thought Souleymane's case for investing more mineral wealth in regional integration programmes was a welcome additional insight, along with Yewande's appeal for strong macroeconomic and legal frameworks that complement the work of social safety net programmes while ensuring that government spending is de-linked from mineral wealth revenues. Take a minute to read our latest edition of Africa's Pulse (http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/0,,contentMDK:23004589~pagePK:146736~piPK:226340~theSitePK:258644,00.html)which points to Africa's new oil, gas and mineral wealth discoveries as a renewed opportunity for inclusive development, encouraging African countries to increase investments in better health and education, cheap, nutritious food, more jobs, more electricity, and other transformational programmes. This is why we are establishing a new trust fund (http://www.worldbank.org/en/news/2012/10/05/world-bank-launches-fund-african-countries-negotiate-deals-for-oil-gas-minerals)that will help African countries win the best possible deals from the big international minerals companies for their new discoveries of oil, gas, gold, and other natural resources, while also encouraging governments to invest their new-found wealth in the sort of long-term development investments that will power their countries forward for the next generation and the next. Also see a New York Times blog on the same subject (http://green.blogs.nytimes.com/2012/12/10/fighting-the-resource-curse-part-2/). For the reader who raised the case of Tanzania, our development mission is determined by the country and its communities themselves, namely to help generate growth, deliver better quality health, education, and other key services, including stronger social safety nets, while also helping to create jobs, build vital infrastructure, and promote social accountability and good governance. Feel free to visit our Tanzania country website and see our development impact first-hand at: http://www.worldbank.org/en/country/tanzania