African Development Bank Will Not Fund Kenya Coal Project

JOHANNESBURG (Reuters) – The African Development Bank (AfDB) will not fund a coal-fired power plant project in Kenya and has no plans to finance new coal plants in future, senior AfDB officials told Reuters.

FILE PHOTO: African Development Bank (AfDB) President Akinwumi Adesina speaks to press after a meeting of the board in Abidjan, Ivory Coast October 31, 2019. REUTERS/Thierry Gouegnon/File Photo

The Abidjan-based lender published an environmental and social impact assessment in May for the Lamu project, which was planned near a UNESCO World Heritage Site but which was halted by a local environmental tribunal.

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SPIEGEL Interview with African Economics Expert: “For God’s Sake, Please Stop the Aid!”

Interview conducted by Thilo Thielke – Translated from the German by Patrick Kessler

Re-Blogged From Spiegel Online

SPIEGEL:

Mr. Shikwati, the G8 summit at Gleneagles is about to beef up the development aid for Africa…

Shikwati: … for God’s sake, please just stop.

SPIEGEL: Stop? The industrialized nations of the West want to eliminate hunger and poverty.

Shikwati: Such intentions have been damaging our continent for the past 40 years. If the industrial nations really want to help the Africans, they should finally terminate this awful aid. The countries that have collected the most development aid are also the ones that are in the worst shape. Despite the billions that have poured in to Africa, the continent remains poor.

SPIEGEL: Do you have an explanation for this paradox?

Shikwati: Huge bureaucracies are financed (with the aid money), corruption and complacency are promoted, Africans are taught to be beggars and not to be independent. In addition, development aid weakens the local markets everywhere and dampens the spirit of entrepreneurship that we so desperately need. As absurd as it may sound: Development aid is one of the reasons for Africa’s problems. If the West were to cancel these payments, normal Africans wouldn’t even notice. Only the functionaries would be hard hit. Which is why they maintain that the world would stop turning without this development aid.

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