President Biden tells dozens of African leaders gathered in Washington that US is"all in on Africa's future," laying out $55 billions in promised funding and private investment to help the continent in multiple sectors.
At the first gathering since Barack Obama invited African leaders in 2014, Biden said the United States sought "partnerships — not to create political obligation, to foster dependence, but to spur shared success and opportunity."The Biden administration is laying out more than $55 billion in support over the three-day summit and on Wednesday welcomed US and African businesses, which promised more than $15 billion in trade deals.
In the past decade, China has surpassed the United States in investing in Africa, mainly through evident infrastructure projects, often funded through loans that have totalled more than $120 billion since the start of the century. Technology leader Microsoft said it would employ satellites to bring internet access to some 10 million people, half of them in Africa, hoping to bridge a digital divide that has held back the continent.
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