In a new report, the World Bank outlines how investment commitments in Africa by emerging market financiers, primarily China, India, and the Gulf countries, jumped from less than US$1 billion per year before 2004 to US$8 billion in 2006 and US$5 billion in 2007 - so-called 'South-South' cooperation.
China and India's motives are largely driven by rising demand for petroleum and other commodities. For example, Chinese imports of African natural resources have grown from just over US$3 billion in 2001 to US$22 billion in 2006.
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