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US ups investment in Africa to counter China's influence

Published on June 19, 2019

Eleven heads of state and government and more than 1,000 business leaders are meeting in Mozambique this week for the US-Africa Business Summit ahead of the launch of a new, ambitious $60bn United States investment agency that some analysts are calling a "once-in-a-generational opportunity" for the continent as well as a bid by the administration of US President Donald Trump to directly counter China's influence there. The United States International Development Finance Corporation (DFC) will more than double the amount of money available for US investment in low- and middle-income countries than was previously available through the Overseas Private Investment Corporation (OPIC) and the Development Credit Authority (DCA). Many of the countries supported by this new agency will be in Africa. Read more. Source | Al Jazeera

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