US pledges $55 billion in economic, health and security support for Africa

President Joe Biden and other leaders pose for a family photo during the U.S.-Africa Leaders Summit at the Walter E. Washington Convention Center in Washington, Thursday, Dec. 15, 2022. (AP Photo/Andrew Harnik)(Andrew Harnik / Associated Press)

WASHINGTON - The three days US-Africa summit that saw US President Joe Biden hosting over 50 African heads of state has only yielded $ 55 billion worth of investment in the continent.

This was revealed by White House national security adviser Jake Sullivan earlier this week. The $ 55 billion will be invested in various areas like health, climate change, trade and investment, and Women’s partnerships in the continent.

The US administration plans to invest $ 20 billion in the healthcare sector in the African region.

This will include $11.5 billion in funding for HIV/AIDS program, and more than $2 billion committed to combating malaria.

The family planning and reproductive health, and maternal and child health sector will receive more than $2 billion.

As a way of supporting the humanitarian and economic impacts of COVID-19 in the African continent, Biden’s administration has allocated more than $2 billion.

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

The African continent is currently battling the impact of Climate Change that has rain havoc on the continent. The latest is the flooding in Kinshasa-DRC where over 120 people lost their lives.

Now the US government plans to invest at least $1.1 billion to support African-led efforts in conservation, climate adaptation, and energy transitions.

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

On trade investment within the continent, the US has pledged $15 billion worth of trade and investment partnerships. They include a $500 million memo of understanding between the US and Africa. This is a plan to try and counter Chinese influence in the continent.

They also eye to use the Export-Import banks in supporting diaspora engagement and a new “Clean Tech Energy Network” that supports $350 million in deals.

While on women's partnerships and US Vice President Kamala Harris made new commitments to advance women’s economic participation in Africa.

The US 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.

GAROWE ONLINE