Mr. Burke Knapp, First Vice-President of the World Bank, had talks in Kinshasa recently with?
Mr. Burke Knapp, First Vice-President of the World Bank, had talks in Kinshasa recently with President Mobutu to discuss the forthcoming investments the Bank is reported to be making in the country in the near future.
Local reports said the visit confirmed the solidity of the Zaire economy.
Another indication of international confidence in the Zaire economy was the opening in Kinshasa of a branch of the United States First National City Bank. The inauguration was performed by President Mobutu.
The Branch is the first to be opened by an American Bank in the Zaire Republic.
SYNOPSIS: The Vice-President of the World Bank Mr. Burke Knapp paid a visit to President Mobutu in Kinshasa recently, and according to local reports his visit confirmed the solidity of the Zaire Republic's economy. In his talks with President Mobutu and Zaire officials, Mr. Knapp is reported to have discussed forthcoming investments by the World Bank in Zaire. In his view, he said, the Republic is in the first rank of large African nations as far as development progress is concerned.
During his visit to Zaire, Mr. Knapp also visited the port of Matadi in Baz-Zaire province.
Another recent indication of international confidence in the Zaire economy was the opening in Kinshasa of a branch of the United States First National City Bank. Its inauguration was performed by President Mobutu.
The staff of the branch had a chance to meet the President during the opening ceremony. The First National City Bank is one of the world's biggest, and it is the first U.S. bank to open a branch in Zaire.
The United States ambassador said in a speech that the future of the Bank in Zaire would depend on the service it can render the country, and the commercial opportunities the people of Zaire can give it.
The Bank's Vice-President, Mr. George Scott, has said he intends to employ Zaire nationals as managers of the Kinshasa branch as soon as possible. Mr. Wilder Abbot, the Branch Manager, says the Bank will help draw U.S. investors to Zaire.