Global Upfront Newspapers
Africa America Cover News

U.S. Trade And Development Agency Partners Senegal’s Sovereign Wealth Fund To Deliver High-Quality Infrastructure

The U.S. Trade and Development Agency(USTDA) and Senegal’s sovereign wealth fund, Fonds Souverain d’Investissements Stratégiques S.A. (FONSIS), announced a new partnership to deliver high-quality infrastructure solutions to Senegal.

The partnership was commemorated through the signing of a memorandum of understanding earlier today in Dakar, Senegal.

“USTDA and FONSIS are building upon a strong existing foundation of collaboration and partnership,” said Enoh T. Ebong, USTDA’s Director. “USTDA’s three decades of project preparation expertise in Africa is a perfect complement to FONSIS’s record of mobilizing investment for strategic projects aligned with the Government of Senegal’s medium-and long-term economic and social development plan.”

The MOU outlined areas of mutual cooperation in Senegal’s priority infrastructure sectors, including the leveraging of USTDA’s project preparation expertise and FONSIS’s experience investing in Senegalese projects in collaboration with the Government of Senegal.

“This MOU with FONSIS will support greater collaboration in several critical sectors, namely clean energy, transportation, information and communications technology, agribusiness, and healthcare – another sign of the breadth and depth of our economic partnership with Senegal,” said U.S. Charge d’Affaires in Senegal Jonathan Fischer.

FONSIS’ CEO Papa Demba Diallo, said: “With respect to our ongoing fruitful partnership in the development of a flagship project for Senegal’s energy roadmap, the signing of this MOU appears quite natural as a next step in reinforcing our relationship with USTDA. FONSIS’s strategic role for the economic and social development of Senegal will enable significant areas of collaboration between our organizations. We are convinced that USTDA’s strong track-record in project preparation in sub-Saharan Africa will contribute to a more efficient deployment of our impactful projects.”

This MOU advances the U.S. government’s Prosper Africa initiative to substantially increase two-way trade and investment between the U.S. and Africa.

U.S. Trade and Development Agency
Press Release
Arlington, VA
April 22, 2022 

Advertize With Us

See Also

Nigeria Slams Fresh Terrorism Charges on IPOB leader, Nnamdi Kanu

Global Upfront

We can’t guarantee peace in Niger Delta if PIB gives anything less than 10 per cent to host communities, says Edwin Clark

Global Upfront

Pope appoints, Nigerian, two others, as new Members of Pontifical Academy of Social Sciences

Global Upfront

BBNaija Star, Dorathy, raises alarm as EFCC officials broke into her apartment, in error

Global Upfront

Update: Nigeria’s COVID-19 confirmed case hit 981 with 108 new cases

Global Upfront

Trump says he moved US embassy to Jerusalem ‘for the evangelicals’

Global Upfront

Trading Mortgages in Budget Clothing

Global Upfront

Katsina community disagrees with military over role during armed bandits’ attacks

Global Upfront

EFCC, ICPC Officials Accuse Buhari of Sabotaging Fight against Corruption

Global Upfront

$37.5m Scandal: Buhari’s Fight Against Corruption Is A Circus Show- PDP

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More