Your current location is:{Current column} >>Text
Biden to announce new Kenya investment plan to secure US position and interests in Africa.
{Current column}766People have watched
IntroductionU.S. President Joe Biden and Kenyan President William Ruto are set to announce investments in green ...
U.S. President Joe Biden and 4 yuan investment futures ap pKenyan President William Ruto are set to announce investments in green energy and health manufacturing in the East African nation on Thursday, along with a plan to reduce its debt burden, a senior U.S. government official disclosed.
Ruto arrived in the U.S. on Wednesday for a three-day state visit, including bilateral talks with Biden on Thursday, followed by a grand state dinner. This marks the sixth state visit hosted by the Biden administration and the first visit by an African president since 2008.
Over the past year, Africa's political landscape has undergone significant changes due to a series of military coups, wars, and tumultuous elections, increasing the influence of China and Russia in the region. Biden hopes to stabilize the African continent and advance U.S. interests by strengthening ties with Kenya.
On Thursday, Biden will designate Kenya as a major non-NATO ally, making it the first Sub-Saharan African nation to receive this title. Currently, 18 countries hold the major non-NATO ally designation, including Israel, Brazil, and the Philippines.
According to a senior government official, the two leaders will announce new U.S.-supported investment initiatives, including green energy and health manufacturing, along with a detailed plan to reduce Kenya's significant debt, much of which is owed to China.
The U.S. International Development Finance Corporation will announce a new $250 million investment in Kenya, with $180 million allocated for a large affordable housing project. According to a U.S. government official, this will bring the total investment by U.S. financing institutions in Kenya to over $1 billion.
As Kenya prepares to send 1,000 paramilitary personnel to Haiti to help the UN address gang violence and hunger in the Caribbean nation, Haiti's humanitarian crisis will be a key discussion topic.
Biden stated that he plans to formally visit Africa in February following the U.S. presidential election, indicating his intention to defeat Donald Trump. Biden had promised to visit Africa in 2023, but the plan did not materialize.
Ruto will attend a state dinner lit by a thousand candles, featuring a menu of traditional tomato soup, butter-boiled lobster, smoked beef short ribs, and white chocolate desserts.
Country singer Brad Paisley and the Howard University Gospel Choir will perform at the dinner, paying tribute to Ruto's musical interests.
Risk Warning and DisclaimerThe market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.
Tags:
Related articles
SQLQD has demanded me a $950 “security verification charge”
{Current column}This fee was never mentioned during registration or anywhere in their terms. Despite completing full ...
Read moreJapan insists on zero tariffs for exports to the United States.
{Current column}After the preliminary trade agreement between the US and the UK, although US President Trump stated ...
Read moreIndia’s real estate stays stable, but luxury housing inventory faces growing pressure.
{Current column}Market Overall Stable, Prices Rising ModeratelyAccording to the latest survey of 15 real estate anal ...
Read more
Popular Articles
- New accounts at FOREX.com can receive up to $5000 in bonuses.
- Controversy Surrounds the "Beautiful Act," Economists Remain Skeptical
- HTFX Invited to 2023 Taipei International Financial Expo
- Goldman Sachs: U.S. Recession Risk Eases, But Further Observation Needed
- The truth of the deal you have been desperately seeking can be summed up in eight words.
- The Federal Reserve holds steady, Powell emphasizes tariff risks