The African Development Bank (AfDB) and the U.S. Trade and Development Agency, USTDA have extended their partnership.
The renewed Memorandum of Understanding (MOU) will focus on sustainable infrastructure and project development across Africa for the next five years.
The partnership aims to strengthen national procurement systems and align them with international standards. This will promote fair competition and transparency. The agreement also includes project preparation grants to develop a pipeline of bankable projects.
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Commitment to Quality and Sustainability
“The extension of our strategic partnership reaffirms our shared commitment to creating a more sustainable and prosperous future for Africa,” said Enoh T. Ebong, USTDA Director.
“By combining our resources and expertise, we are delivering impactful solutions that promote high-quality, sustainable infrastructure on the continent while increasing opportunity for U.S. companies by promoting fair, transparent, and effective procurement systems.”
The MOU emphasizes improving public procurement capabilities. This will create efficient systems that drive economic growth and development. The renewed focus on project preparation reflects the agencies’ dedication to successful project design and implementation.
“This will ensure that we continue to strengthen national procurement institutions, build capacity, and ensure effective implementation of procurement programs within our regional member countries,” added Ebong.
“This fortifies our institutions’ joint ambitions to assist emerging economies in developing policies and procedures promoting best procurement practices, ultimately fostering sustainable economic growth across the continent.”
Leveraging U.S. Expertise for Africa’s Growth
USTDA and AfDB aim to use U.S. companies’ competitive edge in energy, transportation, digital, and healthcare infrastructure.
Their goal is to bring innovative solutions to Africa. These efforts will attract more investment and ensure successful infrastructure development across the continent.
The original agreement, signed in 2018, was part of USTDA’s Global Procurement Initiative (GPI). Since 2013, GPI has helped officials in emerging economies understand the total cost of ownership in infrastructure projects. Currently, 16 partner countries benefit from the initiative.
The renewed partnership marks another step in creating a sustainable, prosperous future for Africa.