The US government has announced $300 million infunding to establish a first-of-its-kind data center in Ghana
Ghana will benefit from US $300 million in funding fromthe US International Development Finance Corporation (DFC) for Africa.
This week, the companyannounced that it is using a$300 million loan from AfricanData Centers (ADC), the largest network of interconnected data centers in Africa, to build a one-of-a-kind data center in Ghana . The investment builds on Vice President Kamala Harris' recent visit to Ghana.
"I am excited about the future of Africa," Kamala told the cheering crowd as she arrived at Kotoka International Airport. I am excited about the future impact Africa will haveon the rest of the world, including the United States of America.
DFC's investment lays the foundation for digital transformation on the continent by increasing access to cloud-based technologies, reducing internet costs, creating greater opportunities for women and making the continent a competitive placefor the company.
Responding to this, Finance Minister Ken Ofori-Attaconfirmed a meeting with DFCofficials in Washington. He was happy that after Ghana received the IMF rescue package, the United States tookthe lead in investing.
Partnership for Global Infrastructure and Investment (PGII)
At the 2023 G7 Summit in Hiroshima, Japan, G7 leaders reaffirmed their commitment to exploring new opportunities to promote the Global Infrastructure and Investment Partnership (GIIP). This is the initiative of President Biden and the G7's flagship infrastructure that has attracted leading investors to meet the global need for high-quality infrastructure investment, in low- and middle-income countries. .
Since its inception, the leaders of the G7 have, through thePGII, started working to mobilize hundreds of billions of dollars in infrastructure funding - to provide energy, physical, digital, health and climate-resilient infrastructure. . Thiswork is carried out by focusingon promoting gender equality, improving labor and environmental standards, and promoting transparency, governance and accountability.
President Biden announced new projects and demonstrated the impact of many projects announced since the launch of the PGII at the 2022 G7 Summit, showing how the US government and partners are working to develop a flexible investment system and supporting infrastructure inclusive growth, benefitingeconomic security. of partners, expand our global supply chain,and create new opportunities for American workers and businesses. Meanwhile, the United States announced a new PGII ranking system to build a flexible economic pathwaythrough PGII and pushinfrastructure investment that can promote and integrateeconomic development across countries and regions.
To date, the United States has raised $30 billion through grants, federal funds, and private sector investment inPGII.
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