The US Trade and Development Agency (USTDA) has signed a memorandum of understanding (MoU) with the Eastern and Southern African Trade and Development Bank (TDB) to bring infrastructure solutions to sub-Saharan Africa.
The MoU outlines areas of mutual cooperation in the agribusiness, energy, healthcare, information and communications technology and transportation sectors.
USTDA and the TDB have agreed to collaborate on project preparation facilities targeted at bankable feasibility studies with gap financing tools up to financial close, and possible facilitation of trade missions.
“USTDA and the TDB are building on a strong foundation of collaboration and partnership. USTDA’s three decades of project preparation expertise in Africa is a perfect complement to TDB’s record of providing customer-focused and innovative financing solutions,” says USTDA CEO and agency head Todd Abrajano.
“This cooperation will be instrumental in fostering value-addition for [African] exports, which will drive tangible triple bottom-line impacts in our member States. Together with USTDA, we look forward to boosting US investment and trade with our region,” adds TDB president and CE Admassu Tadesse.
Since 1992, USTDA has funded more than 225 activities across Eastern and Southern Africa.