US President Joe Biden says there is a need for balanced partnerships with African countries as Washington seeks to build stronger relations and increased trade across the continent.
Addressing the opening trade forum at the US Africa Leaders Summit in Washington, President Biden announced 55 billion dollars, in new funding for Africa over the next three years. This includes 100 million dollars for clean energy projects.
He touched on the importance of good governance, healthy populations, and affordable energy.
President Biden said the Washington talks are about building connections as well as a shared future for US and Africa.
He said,” United States is signing historic memorandum of understanding with the new African Continental Free Trade Area Secretariat. This MOU unlock new opportunities for trade and investment between our countries and bring Africa and the United States even closer than ever.
I’m announcing a new initiative for digital transformation with Africa. We’re here with Congress to invest $350 billion to facilitate more than almost a half a billion dollars in financing to make sure people across Africa can participate in a digital economy, 100 million to increase the reliable clean energy for millions of people in Sub Saharan Africa.
20 million to provide financing fertilizer to help smallholder farmers, particularly women farmers increase the yields of their crops. $10 million to support small and medium sized enterprises to help bring clean drinking water to communities all across the continent”
