The White House Washington, DC — THE PRESIDENT: Hello, hello, hello. It’s good to see you all. Please have a seat. And I know you’re saying to yourselves, “Make it short, Biden. There’s a…” — — “… There’s a semi-final game coming up.” I get it.Well, I want to thank Secretary Raimondo — she is one of the brightest and best folks I have working with me — and for all of you in this room for making this forum a success, particularly in Prosper Africa deal room.
And I want to recognize our co-host, the U.S. Chamber of Commerce and the Corporate Council of Africa — two great compa- — two great champions for building and growing ties of business and trade and investment between Africa and the United States — as well as the members of my administration and the members of Congress who are here today.
I’ve been engaged in these issues going back to my days as a young man in the United States Senate. When I was on the Foreign Relations Committee, I was chairman of the African Affairs subcommittee and got to spend a lot of time in Africa. I’ve visited almost all of your countries. We can’t solve any of these challenges without African leadership at the table — and I’m not trying to be nice; that’s a fact — African ideas and innovation helping to shape the solutions and Africa population contributing to every step.
Critically, we invested in Africa’s capacity to manufacture its own vaccines, diagnostics, and therapeutics so Africa — Africa can meet its own needs and contribute to the global supply chain. We’re taking on climate crisis, prioritizing just — not just energy transition in America but in nations of all of Africa, and meeting the urgent needs to countries to adapt to the climate impacts that are already here.
Well, it’s because Africa’s economic transition depends on good government, healthy populations, and reliable and affordable energy. These things business seeks out when they’re looking to invest. They attract new opportunities, and they launch new partnerships. This is an enormous opportunity — an enormous opportunity for Africa’s future, and the United States wants to help make those opportunities real.
Since the start of my administration, the MCC has announced new investments of nearly $1.2 billion in Africa. We expect the MCC to commit an additional $2.5 billion across Africa in just the next three years, supporting everything from agriculture to transportation to access to renewable energy. Today’s announcements joint — join a portfolio of Partnership for Global Infrastructure and Investment projects already underway in Africa, including mobilizing $8 billion in public and private finance to help South Africa replace coal-fired power plants with renewable energy sources and develop cutting-edge energy solutions like clean hydrogen; a deal worth $2 billion to build solar energy projects in Angola; $600 million in high-speed telecommunications cable that will connect Southeast Asia...
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