The Next 100 Days: Positioning Africa at the forefront of the Biden Administration
The new U.S. administration must double down on – not shy away from – engagements with African energy opportunities by facilitating U.S. private sector investment in natural gas and renewables and eschewing a return to aid-driven diplomacy
CAPE TOWN, South Africa, January 21, 2021/APO Group/
On Wednesday, U.S. President Joe Biden was sworn into office, ushering in a new administration, new foreign policy and a new approach to U.S. trade and investment in Africa.
For its part, the Trump administration had not been short on growing U.S. private sector involvement in Africa, specifically under its trademark initiative, Prosper Africa. Designed to strengthen bilateral trade and investment, the initiative was launched in 2019 and supported by the Better Utilization of Investments Leading to Development (BUILD) Act. Signed by former President Trump in 2018, the BUILD Act consolidated the Overseas
Grace Goodrich, Field Editor January 21, 2021
On Wednesday, U.S. President Joe Biden was sworn into office, ushering in a new administration, new foreign policy and a new approach to U.S. trade and investment in Africa.
For its part, the Trump administration had not been short on growing U.S. private sector involvement in Africa, specifically under its trademark initiative, Prosper Africa. Designed to strengthen bilateral trade and investment, the initiative was launched in 2019 and supported by the Better Utilization of Investments Leading to Development (BUILD) Act. Signed by former President Trump in 2018, the BUILD Act consolidated the Overseas Private Investment Corporation (OPIC) and USAID’s Development Credit Authority into the U.S. International Development Finance Corporation (DFC), doubling the limit on investments from $29 billion under OPIC to $60 billion under the DFC.
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