The U.S. International Development Finance Corporation (DFC) has allocated $300 million to Africa, with Ghana set to benefit from the funding.
Africa Data Centers (ADCs), the largest network of interconnected data facilities in Africa, will utilize the loan facility from DFC to construct a groundbreaking data centre in Ghana.
This investment aligns with Vice President Kamala Harris‘ recent visit to Ghana, where she expressed enthusiasm for Africa's future and its global impact.
The DFC's investment aims to pave the way for a digital revolution on the continent by enhancing access to cloud-based technologies, reducing internet costs, promoting women's access, and positioning Africa as a competitive destination for industries.
Finance Minister Ken Ofori-Atta confirmed his meeting with DFC officials in Washington and expressed his excitement that the United States has led the way with investment following Ghana's IMF Bailout Programme.
G7 Leaders at the 2023 G7 Summit reaffirmed their commitment to scaling the Partnership for Global Infrastructure and Investment (PGII), a flagship infrastructure initiative led by President Biden.
Through PGII, the G7 aims to mobilize significant infrastructure financing to support energy, physical, digital, health, and climate-resilient infrastructure in low- and middle-income countries, with a focus on gender equality, labour standards, environmental sustainability, transparency, governance, and anti-corruption measures.
President Biden announced new projects and highlighted the impact of previous initiatives under PGII, emphasizing the collaboration between the U.S. Government and its partners to foster inclusive growth, enhance economic security, diversify global supply chains, and create opportunities for American workers and businesses.
The United States unveiled a series of new PGII announcements aimed at developing economic corridors and driving infrastructure investments to stimulate economic development across multiple countries and sectors.
To date, the United States has mobilized $30 billion through grants, federal financing, and private sector leverage in support of PGII, further strengthening its commitment to infrastructure development.
Leave a Reply