Explainer: How the U.S. plans to commit $55 billion to Africa over three years

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The United States plans to commit $55 billion to Africa over the next three years, White House National Security Adviser, Jake Sullivan told reporters on Monday.

The money will go to “a wide range of sectors to tackle the core challenges of our time,” and is being distributed in close partnership with Congress, Sullivan said.

Much of the funds appear to come from previously announced programs and budgets.

Here is what the White House has said so far about where the $55 billion will go:

HEALTH
The Biden-Harris administration has invested and committed to provide nearly $20 billion in health programs in the Africa region, the White House said on Tuesday.

That includes $11.5 billion to address HIV/AIDS; more than $2 billion to combat malaria; more than $2 billion in support of family planning and reproductive health as well as maternal and child health; and more than $2 billion to address the health, humanitarian and economic impacts of COVID-19.

The administration also plans to ask Congress for $4 billion for healthcare workers in Africa, investing $1.33 billion annually from 2022 to 2024.

CLIMATE CHANGE
Since January 2021, the administration has invested and plans to provide at least $1.1 billion to support African-led efforts in conservation, climate adaptation and energy transitions.

These funds include U.S. International Development Finance Corporation investments into Malawi’s Golomoti JCM Solar Corporation, and a Climate Action Infrastructure Facility.

NEW TRADE AND INVESTMENT
U.S. President Joe Biden highlighted $15 billion in trade and investment partnerships and deals at the summit on Wednesday, the White House said.

They include over $1 billion in deals signed by U.S. Export-Import Bank, including a $500 million memo of understanding with the African Export-Import Bank to support diaspora engagement, a $500 million deal with the Africa Finance Corp, and a $300 million memo of understanding with Africa50 to match U.S. businesses with medium- to large-scale infrastructure projects.

The deals also include a new “Clean Tech Energy Network” that supports $350 million in deals.

WOMEN’S PARTNERSHIPS
Vice President Kamala Harris made new commitments to advance women’s economic participation in Africa, the White House said. The U.S. International Development Finance Corporation announced $358 million of new investments for women’s initiatives and the State Department will launch a program for green jobs for women with an initial $1 million investment.

Source: Reuters

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