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Home›Latest PRGNews›$1B in Aid and $600M for African Infrastructure Investments

$1B in Aid and $600M for African Infrastructure Investments

By Precinct Reporter News
December 12, 2024
1479
0

By Stacy M. Brown

NNPA Newswire Sr Natl Correspondent

During his visit to Angola, President Joe Biden announced more than $1 billion in humanitarian aid to assist Africans displaced by severe droughts and food insecurity, alongside $600 million in new U.S. investments in infrastructure projects under the Lobito Trans-Africa Corridor initiative. Biden hopes that these measures will serve as a reminder of the U.S. commitment to fostering long-term African partnerships, emphasizing trade, investment, and sustainable development.

“The United States continues to be the world’s largest provider of humanitarian aid and development assistance. That’s going to increase, you know, that’s the right thing for the wealthiest nation in the world to do,” Biden said.

Hosted by the United States and Angola, the Lobito Trans-Africa Corridor Summit brought together leaders from the Democratic Republic of the Congo (DRC), Tanzania, and Zambia to accelerate infrastructure projects to connect the Atlantic and Indian Oceans. Central to these efforts is the Zambia-Lobito rail project, a transformative 800-kilometer line linking Angola and Zambia, with groundbreaking targeted for 2026.

Driving Regional Economic Growth

The Lobito Trans-Africa Corridor is part of the Partnership for Global Infrastructure and Investment (PGI), a U.S.-led initiative focused on infrastructure projects that promote inclusive economic growth. Total U.S. investments in the Corridor now exceed $4 billion, with international commitments surpassing $6 billion.

Agriculture and food security remain key components of the initiative. Biden celebrated the first shipment of goods from Angola’s Carrinho Group along the Corridor to the DRC, marking a milestone in regional trade. Biden said the U.S. is also investing in sustainable farming practices and infrastructure, enabling smallholder farmers to access markets and enhance production.

“These investments aren’t just about aid; they’re about creating opportunities, building infrastructure, and unlocking the potential of this region,” Biden said during his remarks.

Energy and Digital Connectivity

Clean energy projects are also at the forefront. U.S. company Sun Africa is leading efforts to expand renewable electricity to underserved communities in Angola, supported by significant U.S. financing. Additionally, officials said investments in digital connectivity should foster technological innovation and expand access to high-speed internet across the region.

“The United States is expanding our relationship all across Africa from assistance to aid, investment to trade, moving from patrons to partners to help bridge the infrastructure gap,” Biden added.

Angolan President João Lourenço called Biden’s visit a “key turning point” in U.S.-Angola relations. Biden agreed.

“The United States is all in on Africa,” Biden asserted.

 

TagsAfricaaidinfrastructureinvestmentsPresident Biden
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