According to a statement issued by U.S. department of state, His visit is for promoting the U.S. investment in sub-Saharan Africa and strengthen relationships with key regional partners in support of mutual development goals.
The visit marks Boehler’s first official travel to Africa as CEO of DFC, a new U.S. Government agency that combines and modernizes the Overseas Private Investment Corporation (OPIC) and USAID’s Development Credit Authority (DCA).
Equipped with a more than doubled investment cap of US$60 billion and new financial tools, DFC has more resources to mobilize private sector capital to address development challenges and advance U.S. foreign policy in priority regions such as Sub-Saharan Africa.
While in South Africa, Boehler will attend the African Development Bank’s Africa Investment Forum in Johannesburg to highlight DFC’s enhanced flexibility to support private sector investment in the region.
At the forum, he will meet with regional government officials and business leaders to explore opportunities to advance priorities such as infrastructure development and women’s economic empowerment. Boehler will continue to Ethiopia for official government meetings.
During the trip, Boehler and accompanying officials will seek to advance key agency initiatives in the region, including Connect Africa, a commitment to investing US$1 billion in transportation, logistics, and telecommunications; and 2X Africa, an effort to mobilize capital to projects that empower women.
Working together with businesses, we mobilize private capital to invest in projects that create jobs and opportunity in emerging markets, including building critical infrastructure, expanding access to telecommunications, and providing small business financing, notably for women entrepreneurs.
DFC helps to advance America’s foreign policy by partnering on projects that create economic stability, protect sovereignty, and ensure transparency. DFC investments adhere to high U.S. business standards and respect the environment, human, and worker rights.