With Focus on Ukraine, World Bank's Interest in Africa is No Longer 'Undiluted,' Analyst Says
With Focus on Ukraine, World Bank's Interest in Africa is No Longer 'Undiluted,' Analyst Says
The World Bank's prioritization of financial aid for Ukraine over African nations reveals a shift in focus towards Western geopolitical interests, Tafadzwa Ruzive, a postdoctoral research fellow at South Africa's University of the Free State, told Sputnik Africa.
The World Bank has granted Ukraine significantly more loans than all African countries combined over the past three years, raising concerns about the bank's commitment to its stated mission of poverty reduction and sustainable development, Dr. Ruzive said.
"The World Bank is shunning investing in Africa at the expense of Ukraine because they intend to collateralize the whole country for the benefit of their financier class in Wall Street," he said, arguing that the loans are being channeled to Ukraine to facilitate the acquisition of its natural resources and state assets after the conflict.
The analyst further criticized the World Bank and the IMF's perceived indifference towards African countries, stating that these institutions "have not cared and are not interested in solving Africa's biggest problem."
Subscribe to @sputnik_africa
