Sunday 3 August 2014

Billions of dollars in deals and funding to be announced at Africa summit

USAID Administrator Rajiv Shah speaks during the announcement of the U.S. Global Development Lab to help end extreme poverty by 2030, in New York By Lesley Wroughton WASHINGTON (Reuters) - The United States will announce nearly $1 billion in business deals, increase funding for peacekeeping and commit billions of dollars to expanding food and power programs in Africa during a summit this week, U.S. and development officials say. Instead, they have emphasized American interests go beyond Africa's oil and minerals, where China is focused. "You will see a series of announcements on agriculture and food, and power and energy," Rajiv Shah, the administrator of the U.S. Agency for International Development (USAID), told Reuters. "We will make big announcements that demonstrate these are big ambitions we can take on with our African partners and the private sector." Shah said there will be new support for Power Africa, a privately-funded program launched by U.S. President Barack Obama last year to install 10,000 megawatts of new generation capacity and connect 20 million new customers across Africa by 2018.




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