Since its inception in 2019, a U.S. development agency has created a portfolio of more than $50 billion worth of projects in 114 countries, including a trans-Africa railway corridor, a power plant in Sierra Leone, and solar panel manufacturing in India. The U.S.
U.S. Secretary of State Antony Blinken looks on as he receives the Royal Order of the Polar Star ahead of the start of the 31st Organization for Security and Cooperation in Europe Ministerial summit, in Ta’Qali, Malta, Thursday, Dec. 5, 2024. last week, one of the highlights was his pledge of hundreds of millions of dollars for an ambitious trans-Africa rail project that would bring copper and cobalt from central Africa to the Atlantic port of Lobito.
Over its first five years, the agency has developed a portfolio of more than $50 billion in 114 countries, including solar panel manufacturing in India, a power plant in Sierra Leone, and digital infrastructure in South America. To do that, the agency has leveraged government funding to partner with private investments. Last year, the agency committed to $12 billion in new transactions, using the roughly $800 million in appropriations, Nathan said.
National security adviser Jake Sullivan said the agency was created when the U.S. was “ceding the field” to China in a new era of geopolitics. The U.S. needed a vision “calibrated to new geopolitical realities” and that matched ”the scope of the transformational challenges we faced.”
Antony Blinken Sierra Leone China Jake Sullivan Angola Joe Biden Government Programs General News Washington News Government And Politics Scott Nathan United States Government Elections Business World News Politics World News
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