A $100 billion infrastructure development fund is expected to be formed at the Leader’s Summit in the United States.

The summit, which is themed ‘Investing in the Next Generation’, is intended to generate debate on how the USA and Africa can together sustain and advance Africa’s transformation.  The summit will focus on trade and investment, the promotion of sustainable development, peace and security issues, the sustenance of good governance and the advancement of human development.

One of the main outcomes envisaged for the summit is the establishment of US-Africa Infrastructure Development Fund of $100 Billion with a 50/50 contribution from Africa and the US. This will be in support of regional integration and Africa’s industrialisation.

There is also expected to be a renewal of the Africa Growth and Opportunity Act (AGOA) for another 15 years as well as increased support for Africa’s energy projects to overcome the energy deficit in Africa.

“South Africa is looking to establish win-win partnerships which will help build the country skills base; transfer technology; create decent jobs; help create value-added exports; address inequalities in the country; promote inclusive growth and promotes regional integration,” said Minister of International Relations and Cooperation Maite Nkoana-Mashabane.

“We consider our bilateral relationship with the US as one such win-win partnership. Over the years, this partnership has been rapidly growing towards what we can regard as a strategic partnership. The Obama Administration has expressed its willingness to partner with South Africa both domestically and regionally and to support Africa-led initiatives.”