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FT.com / Comment & analysis / Comment - Why Africa needs a Marshall plan: "Why Africa needs a Marshall plan
By Glenn Hubbard and William Duggan
Published: June 4 2007 19:12 Last updated: June 4 2007 19:12

Robert Zoellick, the likely new president of the World Bank, will face a long to-do list, but at or near the top will be the dire economic conditions in much of sub-Saharan Africa. As a seasoned diplomat, Mr Zoellick will seek counsel from many sources. But the best advice may be in the history books.

Sixty years ago on Tuesday, George Marshall, US secretary of state, announced what became known as the Marshall plan for Europe in an address at Harvard University. The Marshall plan has been widely heralded as an example of the triumph of foreign aid on a grand scale. Given the high rate of extreme poverty in sub-Saharan Africa, and that Africa is poorer today than 20 years ago, some leaders have called for a Marshall plan for Africa."

Intel Chairman Craig Barrett on the U.N. and Silicon Valley

"Silicon Valley IT companies are in the right place at the right time to help the United Nations address the world's health, education, and economic problems. Barrett, who has been appointed the chairman of the U.N.'s Global Alliance for ICT and Development, says, "My job is to make sure that we don't talk a lot, but we do a lot." The Alliance will meet today at the the Computer History Museum in Mountain View, Calif., to discuss the role of Silicon Valley in the U.N.'s information technology goals.

Intel's chairman at the company's headquarters in Santa Clara. February 28th, 2007 12:01 am

IFC Executive Vice President Lars Thunell

"The investment climate remains a major challenge on Sub- aharan Africa's path to a better future. African businesses currently face one of the world's highest levels of regulatory obstacles to Entrepreneurs. Africa has also been one of the world's slowest regions to reform its investment climate. Private investors need the right environment to operate. Transparent, robust institutions and an efficient and clear business regulatory environment are also needed to establish the conditions necessary for growth."

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FT.com / Comment & analysis / Comment - Why Africa needs a Marshall plan

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