|FOR IMMEDIATE RELEASE
June 18, 2014
Anna Humphrey | (703) 875-4357
USTDA DIRECTOR LEADS U.S. GOVERNMENT DELEGATION AT AFRICA ENERGY FORUM
Highlights Progress on Power Africa Initiative during Opening Session
ISTANBUL, TURKEY – Today, U.S. Trade and Development Agency Director Leocadia I. Zak highlighted the U.S. government's progress on the Power Africa initiative during the opening session of the Africa Energy Forum, which connects African leaders with global energy industry representatives in order to develop power infrastructure on the continent.
"The U.S. government is making significant progress on Power Africa's goal of adding more than 10,000 megawatts of efficient electricity generation capacity over the next five years," said Director Zak. "To date, the initiative has already helped bring to financial close energy projects that will produce 2,800 megawatts of new power, and has secured commitments for another 5,000 megawatts – representing a total of almost 75% of its initial goal."
Director Zak is leading a delegation of representatives from the U.S. Agency for International Development, the Millennium Challenge Corporation, the Export-Import Bank of the United States, the U.S. Overseas Private Investment Corporation, and the U.S. African Development Foundation. The delegates will highlight successes from the first year of the Power Africa initiative during a roundtable on "Accessing the U.S. Government's Toolkit for Africa's Power Sector" tomorrow afternoon.
USTDA's participation at the Africa Energy Forum comes at the end of a month-long series of trips to western, eastern and southern Africa. During those visits, Director Zak signed grants for seven new energy activities in Nigeria, Tanzania and South Africa. Several of these projects are being funded under the U.S.-Africa Clean Energy Finance Initiative, an innovative U.S. government effort to catalyze private sector investment for clean energy projects in sub-Saharan Africa by supporting early-stage project development.
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The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project planning activities, pilot projects, and reverse trade missions while creating sustainable infrastructure and economic growth in partner countries.
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