Arlington, VA – Today, U.S. Trade and Development Agency (USTDA) Director Enoh T. Ebong convened the leaders of Africa’s preeminent finance institutions to discuss the future of infrastructure finance on the continent. Joining Director Ebong were Wally Adeyemo, Deputy Secretary of the Treasury, and Reta Jo Lewis, President and Chair of the Board of Directors of the Export-Import Bank of the United States. The discussions took place on the eve of the U.S.-Africa Leaders Summit, which President Biden is hosting in Washington, D.C., on December 13-15, 2022.
“USTDA is one of the leading infrastructure project preparation facilities operating in Africa. This is due to our 30 years of experience, our expertise, and the premium that we place on partnering as equals with Africa’s public and private sectors and financial institutions,” said Director Ebong. “Our partners in finance and across U.S. industry have a deep and nuanced understanding of Africa’s markets. Together, we can offer Africa world-class solutions for its infrastructure development and economic growth.”
USTDA’s grant-based project preparation assistance includes feasibility studies, technical assistance and pilot projects. This early-stage support helps structure and define the technical options for infrastructure projects while improving their bankability for financiers.
The financial institutions that participated in the USTDA-led discussion include: Africa Finance Corporation, Africa Investment Forum, Africa50, African Export–Import Bank, Alliance for Green Infrastructure in Africa, Development Bank of Southern Africa, Ecobank, Heirs Holdings, Infrastructure Credit Guarantee Company, Standard Bank Group, Trade and Development Bank, UBA America, and Vista Group Holding.
USTDA’s current portfolio in Africa comprises more than 80 ongoing activities across 26 countries, with the potential to help unlock more than $15 billion in public and private financing and more than $7 billion in U.S. exports.
The U.S.-Africa Leaders Summit will highlight how the United States and African nations are strengthening partnerships to advance shared priorities. The Summit reflects the U.S. Strategy Toward Sub-Saharan Africa and the African Union’s Agenda 2063, both of which emphasize the critical importance of the region to meet this era’s defining challenges. President Biden invited 49 heads of state and the Chairperson of the African Union Commission to participate.
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
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