Chinese economy could boost African growth, says bank chief

The chief of the African Development Bank (AfDB) Donald Kaberuka today outlined the impact he believes the Chinese economy has on growth in Africa.  Speaking at a World Trade Organisation meeting in Geneva, Kaberuka said that if ChinaÔÇÖs economy returned to double-digit growth, he would be ÔÇ£confidentÔÇØ of a significant boost to African growth, possibly to pre-crisis levels. According to Kaberuka, Africa could return to six per cent growth if ChinaÔÇÖs economy grew by double-digit percentage figures. ChinaÔÇÖs growth is currently at around 7.9 per cent, he said. AfricaÔÇÖs growth was 5.1 per cent in 2008, down from six per cent in 2007. China is a major trading partner with Africa, and Kaberuka acknowledged the relationship between the Chinese demand for commodities such as oil and AfricaÔÇÖs economic growth.  The AfDB's shareholders include Africa's 53 nations and 24 non-African donor countries. It lends commercially to Africa's richest nations and at concessionary rates to the poorest ones.  Although the continent has been affected by the global financial crisis, East and North African countries have been coping particularly well with the downturn, Kaberuka said. *┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á *