Development and Integration in Central Africa: The Alternatives of the Multilateral Banks

A consideration of the loans from multilateral banks for development projects in Central Africa is a way to analyze and understand the dynamics of the contemporary world economy. In fact, each process or project undertaken by governments, private companies, financial institutions or any other type of institution should be based on an idea of change and progress, even if there is a dominant trend to keep things as they are, i.e., the resistance to change. Multidimensional development strategies pursued by multilateral banks should enter into the logic of change and progress. In the case of Central Africa, among others, the priority sectors to which many of the loans are directed include rural development, economic infrastructure (transport, water, energy, agriculture, etc.), human resource development, science and technology, the promotion of small and medium-size enterprises, and structural adjustment. However, despite the enormous potential of Central Africa in natural resources, the regional development index has remained very low, because the independent African states failed to adapt to the demands of a new paradigm of multi-sectorial transformation during the 1960s.