Financial Times FT.com

Wolfowitz slams China banks on Africa lending

By Françoise Crouigneau and Richard Hiault in Paris

Published: October 24 2006 03:00 | Last updated: October 24 2006 03:00

Paul Wolfowitz, president of the World Bank, has sharply criticised China and its banks for ignoring human rights and environmental standards when lending to developing countries in Africa.

Interview transcript

Mr Wolfowitz said big Chinese banks ignored the so-called "Equator Principles" - a voluntary code of conduct pledging that projects financed by private bank lending met certain social and environmental standards.

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