Daily News  :: Southern Africa


China rejects criticism on Africa

Published: 24-OCT-06

Johannesburg - China has rejected criticism from the World Bank's president that it ignored social and environmental standards when lending to developing nations in Africa.

In an interview with Paris-based Les Echos newspaper, Paul Wolfowitz said nearly 80 percent of the trade banks in the world respected social and environmental risk management principles when they financed African projects. "(But) the large Chinese banks do not respect them," he reportedly said.

Chinese foreign ministry spokesman Liu Jianchao said on Tuesday that China's loans to African countries were helping to improve ordinary people's lives.

"China cannot accept this accusation," Liu said. "China has adopted the policy of non-interference in the internal affairs of other countries and China does not want to impose one's value system on others.

"China has maintained good co-operation ... on the basis of equality and mutual benefits with a view to promote social and economic development as well as the improvement of living standards of African people."

Wolfowitz told the French newspaper that he had discussed the issue with China and hoped the two sides' points of view would "converge" in the future. Sapa-AFP

Print this page Send this article to a friend

Market news on your cellphone
Get live JSE listed shares, warrants, major indices, brent crude oil, international markets, agricultural futures & daily market analysis via SMS on your mobile.
Find out more...

Energy in Africa
Energy in Africa is an intelligent and in-depth look at how energy impacts people, places, projects, price and development around the African continent.
Subscribe now...

African Business Leaders Forum
African business and public sector leaders define and construct a prosperous future for the continent.
Find out more...

Online travel bookings
Planning to travel? Book accommodation in Africa & South Africa here.
Book now...

Contact us | Advertising | Subscriptions | Newsletter | About us | Employee Email

All material copyright Business in Africa. All rights reserved. Material may not be published or reproduced in any form without prior written permission. Read these terms & conditions. Read our privacy statement and security statement. Powered by Mail & Guardian Online & iafrica.com. The domains businessinafrica.net, energyinafrica.net are owned by Business in Africa.