USAID Designates Morocco as Regional Hub for a New Program in Trade and Investment under Prosper Africa

By India Education Diary Bureau Admin On Dec 23, 2020

New Delhi: The U.S. Agency for International Development (USAID) will designate the Kingdom of Morocco as a regional hub for the new, continent-wide Trade and Investment Program funded by USAID under Prosper Africa. This new center of operations for regional trade and investment will create jobs, drive economic growth, and foster shared prosperity in Morocco, the rest of North Africa, and countries across the African continent.

Launching in 2021 with the potential for up to $500 million in funding over five years, USAID’s new Trade and Investment Program under Prosper Africa will offer a wide range of customized services, from business development and investment-facilitation to support for improved legal and regulatory frameworks. Through a continent-wide approach, with satellite offices that will support North and sub-Saharan Africa, this new program will deliver billions of dollars in new exports and investments and create thousands of new jobs.

Additionally, USAID will provide staff for the recently announced Executive Secretariat for Prosper Africa in Morocco. This new office, to open in January 2021, will leverage expertise from 17 participating U.S. Government Departments and Agencies and bring new resources, staff, and dedicated attention to increase two-way trade and investment between the United States and Morocco, as well as with countries across North Africa.

Prosper Africa is the U.S. Government’s initiative to increase two-way trade and investment between Africa and the United States substantially. The initiative mobilizes all of the U.S. Government’s support services for trade and investment, across 17 of the participating Departments and Agencies, to help U.S. and African businesses and investors identify partners, advance opportunities, and close deals.

Acting Deputy Administrator John Barsa announced the pre-solicitation for USAID’s Trade and Investment Program under Prosper Africa on November 17, 2020.