Arlington, VA – Today, the U.S. Trade and Development Agency (USTDA) announced it will lead the U.S. government’s Indo-Pacific Economic Framework (IPEF) Project Preparation Facility, a key component of the PGI IPEF Investment Accelerator that aims to streamline infrastructure project development in IPEF countries. Through the Facility, USTDA will lead the U.S. government’s efforts to deepen IPEF donor country coordination and create novel tools that accelerate project scoping and preparation, with the goal of timely project implementation. USTDA will allocate more than $10 million of its own resources as an initial commitment to the Facility, with the goal of mobilizing hundreds of millions of dollars in capital for IPEF’s emerging economies. USTDA made the announcement during Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in San Francisco.
“We are delighted that the White House has designated the U.S. Trade and Development Agency to lead the project preparation facility under the PGI IPEF Investment Accelerator. As the U.S. government’s overseas project preparation agency, USTDA will leverage our more than thirty years of experience in infrastructure development in the Indo-Pacific to ensure the Accelerator’s success,” said Enoh T. Ebong, USTDA’s Director. “USTDA’s goal is to facilitate an ecosystem that leverages the resources and capabilities of the region’s project developers, the U.S. private sector, financial institutions, and like-minded partners who are committed to a free, open and prosperous Indo-Pacific.”
The Facility is an integral part of the new PGI IPEF Investment Accelerator, a one-stop-shop to increase project-specific financing for priority infrastructure in IPEF countries by streamlining project pipeline sharing and pooling resources with IPEF partners, including the private sector and investors. The Facility led by USTDA will be integral to early-stage project preparation work that brings quality, bankable projects into the Accelerator’s pipeline.
USTDA made its announcement at the Partnership for Global Infrastructure and Investment IPEF Investor Forum, which was held during APEC Economic Leaders’ Week. USTDA also announced that the next USTDA-hosted Indo-Pacific Business Forum will take place in Manila in March 2024 and made new funding commitments to support infrastructure projects in the Indo-Pacific region. More information is available in this fact sheet.
These commitments advance U.S. initiatives like the Partnership for Global Infrastructure and Investment (PGI), the Digital Connectivity and Cybersecurity Partnership and the Pacific Islands Strategic Infrastructure Initiative.
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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