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August 6, 2014

Obama Pledges $33 Billion in Aid, Investments at Africa Summit 
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The United States is hosting a summit for African leaders and corporate
executives in Washington. On Tuesday, President Obama pledged some $33
billion in aid and investments, including $14 billion worth of corporate
spending.

President Obama: "American companies are announcing major new deals in
Africa. Blackstone will invest in African energy projects. Coca-Cola
will partner with Africa to bring clean water to its communities. GE
will help build African infrastructure. Marriott will build more hotels.
All told, American companies, many with our trade assistance, are
announcing new deals in clean energy, aviation, banking and construction
worth more than $14 billion, spurring development across Africa and
selling more goods stamped with that proud label, 'Made in America.'"

The new funding includes $7 billion that would go to promoting and
subsidizing U.S. exports and investments.

 

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