USAID, UBA Partner To Advance Trade, Investment

THE
UNITED States Agency for International Development (USAID) through the Prosper
Africa Initiative has struck a deal with the United Bank for Africa (UBA) to
increase a two-way trade and investment between the United States (U.S.) and African
nations.  

This
partnership ensures businesses are equipped with the technical and financial
tools they need to enter into new trading and investment relationships in
Africa and the U.S.  

USAID
will provide technical assistance and advisory services to prospective
businesses through its trade and investment hubs and will connect UBA with
African Diaspora business groups working across the U.S.  The MoU will also enable UBA, the only
sub-Saharan African bank licensed to operate in the U.S., to expand access to its
reach and extend financing to companies in the U.S. looking to do business with
African nations.

Recognizing
tremendous growth opportunities, USAID and UBA are collaborating
to advance Prosper Africa’s goal of substantially increasing two-way trade
between Africa and the U.S. By working together, they will extend
financing and technical assistance to businesses that will strengthen the
American economy, grow African economies and create jobs on both sides of the
Atlantic.

The
two institutions entered into this agreement as part of the opening ceremony of
the Tunisia Prosper Africa Conference, co-organized by the U.S. Embassy in
Tunis and the American Chamber of Commerce of Tunisia.

The
event facilitated U.S. and African business-to-business connections and
featured remarks by key representatives from the U.S. Government and the U.S.
and African private sector.

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