The World Bank has said a significant number of educated Africans living abroad have a critical role to play in the development of the continent, according to reports of the News Agency of Nigeria on Saturday.
Obiageli Ezekwesili, Vice President of the bank, told the participants at Howard University's Second Annual African Business Conference that some of the Africans abroad will be a part of the solution to Africa's future.
According to her, what the continent need in the short term was concerted and sustained efforts to help buffer the effects of the global financial crisis.
She said in the medium and longer-term, emphasis should be on harnessing Africa's growth potential.
The two-day conference, attended by more than 250 students and entrepreneurs with interest in business opportunities in Africa, was an opportunity for connectivity, ideas and new ventures.
Ezekwesili said the fragility has threatened to throw Africa's development into reverse, citing infrastructure deficits and the lack of capital investments as impediments to making Africa a credible address for business.
She warned that the impact of the financial crisis had already put major projects on hold across the region.
The World Bank said the climate was far more positive than that a generation ago and the positive movement of human development indicators were encouraging especially with the increasing list of democracies and the reduction of people living on less than 1.25 U.S dollars per day to about 50 percent.
(Xinhua News Agency March 7, 2009)