Monday 4 August 2014

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

US President Barack Obama makes a statement while at the White House in Washington 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. U.S. officials said the Aug. 4-6 summit in Washington of nearly 50 African leaders hopes to showcase U.S. interest in the fast-growing region through a series of government-private partnership deals to boost trade and investment. Administration officials have played down questions over whether the summit is in response to China's growing presence in the region. Instead, they have emphasized that American interests go beyond Africa's oil and minerals, where China is focused.




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