Washington, D.C. – Today, the U.S. Trade and Development Agency signed a Memorandum of Understanding with The Eastern and Southern African Trade and Development Bank to bring high-quality infrastructure solutions to sub-Saharan Africa.
“USTDA and The Trade and Development Bank are building upon a strong foundation of collaboration and partnership,” said Todd Abrajano, USTDA’s Chief Operating Officer and Head of Agency, who signed the MOU on USTDA’s behalf. “USTDA’s three decades of project preparation expertise in Africa is a perfect complement to TDB’s record of providing customer-focused and innovative financing solutions.”
The MOU outlined areas of mutual cooperation in the agribusiness, energy, healthcare, information and communications technology, and transportation sectors. USTDA and TDB agreed to collaborate on project preparation facilities targeted at bankable feasibility studies with gap financing tools up to financial close, and possible facilitation of trade missions.
Signing the MOU on TDB’s behalf was Admassu Tadesse, Acting Group Managing Director and Chief Executive Officer, who remarked: “This cooperation will be instrumental in fostering value-addition for [African] exports, which will drive tangible triple bottom-line impacts in our Member States. Together with USTDA, we look forward to boosting U.S. investment and trade with our region.”
Since 1992, USTDA has funded more than 225 activities across Eastern and Southern Africa.
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority development 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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