WB chief wants CIC in Africa

HUANGSHAN, Anhui province: Robert B. Zoellick, the president of the World Bank, has spent half of his time during his latest trip to China in persuading local companies including the country's sovereign fund to invest in Africa.

He said an asset management operation under the bank's private sector investment arm, the International Finance Corporation (IFC), would probably complete its first private equity fund this autumn.

During his trip to Beijing, Zoellick met with managers from China's sovereign fund, the China Investment Corp (CIC), on possible investment in the fund.