Arlington, VA – The Biden-Harris Administration today released the President’s Budget for Fiscal Year 2024. The Budget details a blueprint to grow the economy from the bottom up and middle out, lower costs for families, protect and strengthen Medicare and Social Security, and reduce the deficit. It makes critical, targeted investments in the American people that will promote greater prosperity and economic growth for decades to come, including a record budget proposed for the U.S. Trade and Development Agency.
“For 30 years USTDA has been at the forefront of shaping the future of infrastructure in emerging economies. Our project preparation and partnership-building toolkit has a proven record of success in facilitating the implementation of high-quality infrastructure projects overseas, supporting U.S. jobs through exports, and advancing key U.S. foreign policy objectives,” said Enoh T. Ebong, USTDA’s Director. “The President’s Budget includes $117 million to enhance USTDA’s ability to collaborate with U.S. industry to bolster global energy security and diversification using U.S. technology and advance the goals of the Partnership for Global Infrastructure and Investment, including closing the infrastructure gap in developing countries using American-sourced goods and services.”
USTDA has generated an outstanding return on investment, generating an average of $136 in U.S. exports for every dollar programmed. Since its founding in 1992, the Agency has facilitated more than $115 billion in U.S. exports to infrastructure projects in emerging economies, benefitting U.S. companies across the country including small businesses from more than 370 communities.
For more information on the President’s FY 2024 Budget, please visit: https://www.whitehouse.gov/omb/budget/
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.
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