For Immediate Release
Office of the Press Secretary
June 8, 2007
Fact Sheet: A Record of Commitment to Africa
U.S. Plans To Substantially Increase Resources For Fight Against Global HIV/AIDS
Today, Leaders Of Industrialized Nations Discussed Africa At The G-8 Summit In Heiligendamm, Germany. President and Mrs. Bush and other world leaders concluded the three-day G-8 Summit, which was hosted by German Chancellor Merkel. At the Summit, G-8 leaders demonstrated their commitment to work with Africa to facilitate opportunity and conflict resolution and to combat the scourge of infectious diseases.
President Bush Plans To Double America's Commitment To Fight Global HIV/AIDS
President Bush Has Announced A Five-Year, $30 Billion Plan To Substantially Increase America's Commitment To Fight Global HIV/AIDS. The President will work with Congress to reauthorize the President's Emergency Plan For AIDS Relief (PEPFAR) and double the initial $15 billion commitment, already the largest international health initiative dedicated to a specific disease. Assuming Congress meets the President's request for Fiscal Year 2008, and with the new $30 billion plan, the American people have committed $48.3 billion across 10 years to fight global HIV/AIDS.
- After Three Years Of PEPFAR Implementation, The American People Have Supported Treatment For 1.1 Million People In 15 Countries, Including More Than 1 Million In Africa. The next phase of the American people's commitment to those suffering from HIV/AIDS will continue to expand life-saving treatment, comprehensive prevention programs, and care for those in need, including orphans and vulnerable children, to support:
- Treatment for 2.5 million people.
- Prevention of more than 12 million new infections.
- Care for more than 12 million people, including 5 million orphans and vulnerable children
- President Bush Has Called On Developed And Developing Countries In Particular Middle-Income Countries Where Projections Suggest Many New Infections Will Occur To Increase Their Contributions To Fighting AIDS. HIV/AIDS is a global crisis that requires a global response. The U.S. currently provides as many resources for global HIV/AIDS as all other developed country governments combined. But only together can we turn the tide against the global epidemic.
The President's Malaria Initiative Is Saving Lives
The President's Malaria Initiative Is Combating Malaria In Fifteen Of The Hardest-Hit African Countries. President Bush announced the President's Malaria Initiative (PMI) in June 2005. A five-year, $1.2 billion program, PMI challenges the private sector to join the U.S. government in combating malaria, with the goal of cutting malaria's mortality rate by 50 percent in these target countries, freeing these African nations and their citizens from the grip of debilitating disease.
- Through Partnerships Working In The First Three Target Countries Angola, Tanzania, And Uganda Aid From The American People Has Already Reached About Six Million Africans. In 2007, 30 million more will receive life-saving medicines, sprays, and nets as the program expands. Other target countries include: Benin, Ethiopia, Ghana, Kenya, Liberia, Madagascar, Malawi, Mali, Mozambique, Rwanda, Senegal, and Zambia.
The Africa Financial Sector Initiative Will Address Gaps In Financing Sources Available To African Businesses
The Africa Financial Sector Initiative (AFSI) Will Strengthen Financial Markets, Mobilize Domestic And Foreign Investment, And Help Spur Job Creation And Economic Growth In Africa. This initiative is expected to mobilize up to $1 billion in privately-managed investment funds for Africa and provide expert technical assistance specifically tailored to help address structural impediments in Africa's financial sector.
- The Overseas Private Investment Corporation (OPIC), An Independent U.S. Government Agency, Will Support The Creation Of New Private Equity Funds That May Mobilize Up To $800 Million Of Additional Investment In Africa.
- These dedicated funds will offer new financial instruments and services to African businesses, such as long-term debt, local currency debt, mezzanine financing, securities underwriting, and corporate bond issuance.
- Members of the U.S. financial community have already submitted 25 proposals to OPIC for the Africa Capital Markets Fund, and OPIC will select funds to support by September 2007.
- OPIC Has Also Issued An Innovative Call For Proposals Seeking Private Equity Funds To Provide Capital To Businesses Serving Important Social Needs In Africa And Contributing To The Grassroots Development Of Its Private Sector. These dedicated funds will:
- Provide capital to businesses in sectors with a high developmental impact, such as water, healthcare, small and medium enterprise development, and education.
- Attract investors that prioritize both financial and social returns.
- The AFSI Technical Assistance Will Help Improve The Financial Sector Climate With The Goal Of Facilitating Increased Domestic And International Investment. Activities will:
- Strengthen country and regional debt markets by providing up to 10 Treasury Department advisors through the FY 2008 to FY 2010 period.
- Launch remittance programs in Nigeria and West Africa through USAID to lower the cost of transfers.
- Develop payment systems and credit bureaus to support local retail and commercial banking.
The U.S. Is Expanding Education For The World's Poorest Children
Last Week, President Bush Announced A Plan To Expand Education Assistance For Children In The Worlds Poorest Countries. The President will work closely with Congress to provide an additional $525 million over five years to promote the full development of human potential in partner countries around the world. This plan has three components:
- "Communities Of Opportunity" Centers: These new centers will offer after-school training in English, computer skills, science, math, finance, and critical thinking to 100,000 at-risk youth in developing countries.
- Expanding Support For Basic Education Programs: The Administration will expand its support for basic education assistance in developing countries to provide up to 4 million more children with access to quality basic education in initial target countries through comprehensive programs.
- Better Coordination Of Education Resources: A new Coordinator for Education, based at the USAID, will direct a strategic use of resources that builds on America's current support for basic education, child health, and nutrition overseas. Resources will be targeted to countries that demonstrate a strong commitment including Fast Track Initiative endorsed education plans, budget transparency, and increased government spending on education.
This Plan Will Draw On Partnerships With The Private Sector, Including Business And Non-Governmental Organization Leaders, Local Communities, And Parents, To Further Expand Its Impact.
The U.S. Is On Track To Meet Its Goal Of Doubling Assistance To Sub-Saharan Africa
At The Gleneagles G-8 Summit In 2005, President Bush Announced That The United States Would Double Assistance To Sub-Saharan Africa Between 2004 And 2010 To $8.67 Billion. The United States is on track to meet that goal with a preliminary estimate of $6.5 billion of bilateral and multilateral assistance in 2006.
To Help Build On The Success Of The President's Development Agenda, Mrs. Bush Will Visit Senegal, Mozambique, Zambia, And Mali On June 25-29, 2007. While in Africa, Mrs. Bush will meet with community leaders and visit participants in PEPFAR, PMI, and USAID's Africa Education Initiative programs.
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