You are here
United States of America
The United States of America became a member of the African Development Fund in 1976 and of the African Development Bank in 1983.
Its bilateral cooperation with the Bank has been strengthened through two cooperation agreements:
In 2008, a Memorandum of Understanding was signed with USAID to launch a five-year partnership in support of African small and medium-sized enterprises by accelerating investment. It also provides co-financing arrangements for a shared contribution of 40% for the Bank, 10% for USAID and 50% for other partnering banks. Another Memorandum of Understanding was concluded in May 2016 with the Millennium Challenge Corporation that provides for sharing information and data particularly in the power sector, and which focuses on mobilizing private investment.
In 2012, USAID contributed to the Migration and Development Initiative, a Multi-Donor Trust Fund aimed at 1) improving knowledge on migrant remittances in Africa; 2) providing support to reforms of the regulatory frameworks required to improve transfer conditions; 3) developing financial products, and 4) providing support for productive investment and local development in the migrants’ countries of origin.
In addition, USAID and the Bank Group are currently discussing further engagement in cooperation activities, including establishing a Multi-Donor Trust Fund for the agriculture sector, among others. USAID also contributed to the Multi-Donor Agriculture Fast Track Fund to facilitate project preparation in the agriculture sector where USAID committed US $11 million, the African Legal Support Facility and the Sustainable Energy Fund for Africa.