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The World Bank has warned rich countries against reducing development assistance at a time of growing fears over a potential global recession. According to the Bretton Wood institution, �This is a bad time to slash development assistance.� �The temptation is great when a crisis looms � as it does now � for rich countries to slash development assistance. This would be a grave mistake,� World Bank Vice President for Africa, Obiageli Ezekwesili told investors in London. Speaking at the first-ever African Investment Summit organized by the London Stock Exchange (LSE) in partnership with the Financial Times, CNBC, Citigroup, Banco Espirito Santo, among others, Madam Ezekwesili stressed that cutting aid would be a grave mistake �not because Africa is desperate for aid but because the global economy is desperate to see a high-performing Africa.� An expansion in global prosperity and a resumption of global economic growth, she explained, really depends on Africa playing its role as a global growth pool and prospering as a robust market for global goods and services. Investors, she added, will find in the different branches of the World Bank, the global knowledge they need to understand Africa, the political risk guarantees certain markets may impose and the support all investors sometimes need in resolving international investment disputes. While foreign partners like the World Bank and foreign investors can help �the ultimate responsibility for delivering on Africa�s development promise is that of the people of Africa and their governments,� the World Bank Vice President told the summit. She explained that the World Bank�s strategy for Africa commits to fostering partnerships �working with Africa, not for Africa� partnering with and challenging African governments to embrace much-needed second generation reforms that boost private sector-led growth by improving the environment for doing business�. In a related development, the World Bank has urged investors worldwide to invest in Africa and its budding capital markets. �Africa has taught the world a lesson in macroeconomic reform and stability,� Madam Ezekwesili said. She urged investors who are in search of the right market to �rediscover Africa� at a time of growing fears of a global recession. �Africa�s fundamentals appear strong and the continent�s outlook remains positive,� she disclosed, pointing to the continent�s rapid rebound from the 2008-2009 global financial crisis and its higher Gross Domestic Product (GDP) growth rates projected to be 4.8 percent, 5.2 percent and 5.5 percent respectively in 2011, 2012 and 2013.