The African Development Bank (AfDB) and the U.S. Trade and Development Agency (USTDA) have extended their strategic partnership for another five years through a renewed Memorandum of Understanding (MOU).
This agreement reaffirms their commitment to advancing quality infrastructure development across Africa.
The partnership aims to strengthen national procurement systems, align them with international best practices, and promote fair competition.
It also formalizes ongoing coordination to develop a pipeline of bankable projects that can benefit from USTDA’s project preparation grants.
Delivering impactful solutions
According to USTDA Director Enoh T. Ebong, both organisations are delivering impactful solutions by combining their resources and expertise.
“The extension of our strategic partnership reaffirms our shared commitment to creating a more sustainable and prosperous future for Africa. By combining our resources and expertise, we are delivering impactful solutions that promote high-quality, sustainable infrastructure on the continent.”
The renewed MOU emphasizes enhancing public procurement capabilities and creating transparent and efficient systems that support economic growth and sustainable development. A significant new element of the partnership focuses on project preparation, highlighting USTDA and AfDB’s dedication to improving project design and readiness.
By leveraging the competitive advantages of U.S. companies in sectors such as energy, transportation, digital, and healthcare infrastructure, the partnership aims to integrate innovative solutions into development activities.
This strategic approach is intended to attract investment and ensure the successful implementation of infrastructure projects across the continent.
What you should know
- The original MOU was signed in 2018 under USTDA’s Global Procurement Initiative (GPI), which assists public officials in emerging economies in better understanding the total cost of ownership of goods and services for infrastructure projects.
- The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority infrastructure projects in emerging economies.
- USTDA links U.S. businesses to export opportunities by funding project preparation and partnership-building activities that develop sustainable infrastructure and foster economic growth in partner countries.
- The AfDB is a financial provider to African governments and private companies investing in the regional member countries (RMC).
The African Development Bank Group finances projects, programs and research in all sectors of economic and social activity, notably in the fields of agriculture, water, energy, private sector development, the continent’s economic integration and gender equality.