The Development Bank of Southern Africa (DBSA) has signed a memorandum of understanding (MoU) with the US Trade and Development Agency (USTDA) to promote sustainable development and broad-based economic growth in sub-Saharan Africa.
The two organisations would partner to leverage resources and programmes to accelerate the development, financing and implementation of priority infrastructure projects.
Commenting on the agreement, DBSA CEO and MD Patrick Dlamini said projects to be pursued under the MoU were in the areas of clean energy, transportation, water, environment, telecommunications and other mutually determined fields.
“We will use our respective programme tools to identify priority projects,” he said.
USTDA director Leocadia Zak added that the agreement would enable the DBSA to expand its funding pipeline for infrastructure projects through the funding of feasibility studies, investment analysis, technical assistance tools and related project development work.
“This can mitigate early project development risks, as identified in consultation with the bank,” she noted.
The partnership would also seek to enlist private sector resources and expertise to deliver innovative development solutions and greater investment in sub-Saharan Africa.