ABSTRACT
This chapter examines economic nationalism in Africa as manifested by nationalisation, expropriation, 'creeping' expropriation, indigenisation or unilateral termination of concession agreements and/or State contracts with aliens. It also examines the responses of the World Bank to expropriation disputes in Africa. The chapter reports on findings of the research project "The World Bank and Expropriation Disputes" partly supported by the World Society Foundation. As a further guarantee of the security of Direct Foreign Investments, many African countries have concluded bilateral investment treaties for the reciprocal protection and promotion of investments with major capital-exporting countries. Direct involvement by the Bank or its President in the settlement of investment disputes had been "cost-effective and highly efficient". Recognising the usefulness of creating a machinery for resolving investment disputes within the framework of a multilateral agreement, the Bank directed its staff to prepare working papers and drafts for the consideration of its Executive Directors.
