State Department To Invest
Secretary of State
Two out of three sub-Saharan Africans - nearly 600 million people - lack access to electricity. That forces them to spend significant income on costly and unhealthy forms of energy, such as diesel to run factory generators and wood for smoky indoor fires for cooking.
Secretary Kerry announced the additional investment in U.S.-ACEF on
The Business Summit coincided with the U.S.-Africa Leaders Summit, which brought nearly 50 African heads of state to
The Business Summit also included announcements of the latest U.S.-ACEF projects --micro-lending for solar energy and access to fresh water through the
U.S.-ACEF launched two years ago as an innovative partnership between the
The initiative brings together USTDA's project planning expertise with OPIC's financing and risk mitigation skills to encourage private sector investment and increase support for U.S. businesses and exports in sub-Saharan Africa's clean energy sector. U.S.-ACEF support ensures that technically and financially sound projects are implemented, rather than falling short because of insufficient project preparation.
U.S.-ACEF has seen high demand, receiving more than 400 project applications since its launch. While originally projected to last five years, the initial
Collectively, these projects are on track to unlock hundreds of millions of private investment dollars that would not otherwise flow. A small amount of support at the project preparation stage can leverage significantly larger investments. For example,
U.S.-ACEF projects have the potential to result in hundreds of megawatts in additional power generation capacity across
For more details about U.S.-ACEF, contact
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