The World Bank has removed some developing countries including Nigeria from its list of countries eligible for charity and aid from the foremost development agency.
Outgoing chief executive of the bank, Robert Zoellick disclosed this at the on-going International Monetary Fund/World Bank spring meetings in Washington DC where he noted that the developing countries have provided two-thirds of global growth over the past years, hence they are no longer charity cases.
Even though developing countries are vital to the world economy, Mr Zoellick stressed the need for both developing and developed countries to focus on structural reforms that will be the drivers of future growth; otherwise the world will keep stumbling along.
The World Bank chief said the countries must work to remove barriers to the great economic potential of the region and seek to achieve regional integration.
