Search
Search
Journalism from the heart of crises
  1. Home
  2. Africa

US announces US $350-million fund

    ABIDJAN
    Encouraging direct investment in Sub-Saharan Africa is the aim of a new US $350-million US fund, George Munoz, chief executive of the US Overseas Private Investment Corp (OPIC), said on Monday. The fund will finance telecommunications, transportation, electrical power, water and sanitation projects and create at least 7,000 jobs, Munoz said at a news conference in Durban, South Africa, where he was attending the World Economic Forum of Southern African states. It is to be managed by the Sloane Financial Group, with offices in Johannesburg, West and East Africa. "These funds work because they are linked to fixed direct investment and the creation of jobs," Munoz said. OPIC defines itself as "an independent US government agency that sells investment services to assist US companies investing in some 140 emerging economies around the world".

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

    Share this article

    Get the day’s top headlines in your inbox every morning

    Starting at just $5 a month, you can become a member of The New Humanitarian and receive our premium newsletter, DAWNS Digest.

    DAWNS Digest has been the trusted essential morning read for global aid and foreign policy professionals for more than 10 years.

    Government, media, global governance organisations, NGOs, academics, and more subscribe to DAWNS to receive the day’s top global headlines of news and analysis in their inboxes every weekday morning.

    It’s the perfect way to start your day.

    Become a member of The New Humanitarian today and you’ll automatically be subscribed to DAWNS Digest – free of charge.

    Become a member of The New Humanitarian

    Support our journalism and become more involved in our community. Help us deliver informative, accessible, independent journalism that you can trust and provides accountability to the millions of people affected by crises worldwide.

    Join