This is somewhat disingenuous coming from a Minister of Finance in a country that ties more of its overseas aid than any other major country except Japan.



OECD: "Untying aid:Is it working?"

http://www.oecd.org/dac/evaluation/dcdndep/44375975.pdf



Furthermore, rich country (especially German) export credit guarantees are a major source of public debt in the very African countries he describes because the private buyers of assets can socialise them through bankruptcy. Even if private money is used for infrastructure investment it has the same flaw, the debt will become distressed and the national government will be on the hook.



25 years ago I was travelling in then Zaire and came across a huge road project through the jungle. It was funded by the World Bank and at one side of a large swamp (circa 90KM) a German construction company was dumping sand into the swamp, at the other end a Belgian company. The road was never finished.

