ANNOUNCEMENT 19 Jun 2014In June 2014, the government of the United States of America announced a changed export promotion.
NUMBER OF INTERVENTIONS
A bill entitled the Energize Africa Act of 2014 (S.2508) is currently under consideration in the U.S. Congress. The bill is aimed at developing a multiyear strategy to assist countries in sub-Saharan Africa implement national power strategies and develop an appropriate mix of power solutions. Some provisions in the bill would extend government assistance to U.S. exports in this sector. Sections of the bill would direct the Trade and Development Agency to promote U.S. private sector participation in energy sector development projects through project preparation activities; direct the United States African Development Foundation to make grants and provide technical support to businesses and organizations that are developing on- and off-grid solutions to meet the power needs of underserved rural communities; amends the Foreign Assistance Act of 1961 to authorize the Overseas Private Investment Corporation (OPIC) to make direct loans and issue investment insurance and investment loan guarantees through September 30, 2019; urges OPIC to streamline the application, approval, and post-approval processes for insuring, financing, or investing in projects, including off-grid efforts, for which OPIC support is less than $20 million; and prioritize OPIC loan, guarantee, and insurance programs for power generation, distribution, and off-grid power and lighting. The bill would require OPIC to establish five-year pilot programs under which certain entities that are substantially owned by U.S. citizens shall be eligible investors for receiving OPIC assistance for power projects in sub-Saharan Africa.