The U.S. Trade and Development Agency signed a Memorandum of Understanding with The Eastern and Southern African Trade and Development Bank to bring high-quality infrastructure solutions to sub-Saharan Africa.
The MOU outlined areas of mutual cooperation in the agribusiness, energy, healthcare, information and communications technology, and transportation sectors. USTDA and TDB agreed to collaborate on project preparation facilities targeted at bankable feasibility studies with gap financing tools up to financial close, and possible facilitation of trade missions.
USTDA’s Chief Operating Officer and Head of Agency, Todd Abrajano said. “USTDA and The Trade and Development Bank are building upon a strong foundation of collaboration and partnership. USTDA’s three decades of project preparation expertise in Africa is a perfect complement to TDB’s record of providing customer-focused and innovative financing solutions.”
Signing the MOU on TDB’s behalf was Admassu Tadesse, President and Chief Executive, who remarked: “This cooperation will be instrumental in fostering value-addition for [African] exports, which will drive tangible triple bottom-line impacts in our Member States. Together with USTDA, we look forward to boosting U.S. investment and trade with our region.”
Since 1992, USTDA has funded more than 225 activities across Eastern and Southern Africa.