The U.S.Trade and Development Agency (USTDA) signed a Memorandum of Understanding with The Eastern and Southern African Trade and Development Bank (TDB) to bring high-quality infrastructure solutions to sub-Saharan Africa.
Todd Abrajano, Chief Operating Officer and Head of Agency, USTDA said: “USTDA and The Trade and Development Bank are building upon 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.”
The MOU outlined areas of mutual cooperation in the agribusiness, energy, healthcare, information and communications technology, and transportation sectors. USTDA and TDB 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.
Admassu Tadesse, President and Chief Executive, TDB said: “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 U.S. investment and trade with our region.”
Since 1992, USTDA has funded more than 225 activities across Eastern and Southern Africa.