Africa: Us Treasury Secretary Yellen Kicks Off Africa Tour in Senegal

Dakar, Senegal — U.S. Treasury Secretary Janet Yellen went to Gorree Island in Senegal Saturday, and spoke of the “unspeakable cruelty” of the trans-Atlantic slave commerce.

“Finally, Goree Island reminds us that the histories of Africa and America are intimately linked,” Yellen mentioned after touring the island. “We all know that the tragedy didn’t cease with the technology of people taken from right here.”

Yellen started her 10-day journey to Africa Friday with a go to to a U.S.-funded enterprise incubator for youth and girls in Dakar, Senegal.

As the primary feminine U.S. treasury secretary, Yellen received a heat spherical of applause from the businesswomen on the assembly.

In a speech following the go to, Yellen emphasised America’s intention to broaden commerce and funding in Africa.

“The USA is all in on Africa, and all in with Africa,” she mentioned. “And our engagement isn’t transactional. It isn’t for present. And it is not for the quick time period.”

Whereas in Senegal, Yellen can even meet with Senegalese President and head of the African Union Macky Sall, in addition to ministers of finance and economic system.

Yellen plans to debate infrastructure tasks, pandemic preparedness, democracy strengthening and anti-corruption partnerships. She can even spotlight the steps the U.S. has taken to counter the spillover results of Russia’s struggle in Ukraine via meals safety help.

“Russia’s struggle and weaponization of meals has exacerbated meals insecurity and precipitated untold struggling,” Yellen mentioned. “And with world financial headwinds brought on by the actions of a single man, [Russian] President [Vladimir] Putin is creating an pointless drag on Africa’s economic system.”

Yellen additionally acknowledged Africa’s susceptibility to the local weather disaster, noting that 17 of the world’s high 20 climate-vulnerable international locations are African.

She introduced U.S. plans to broaden partnerships with Africa on conservation, local weather adaptation and entry to scrub power, and famous U.S. President Joe Biden’s intentions to supply over $1 billion to assist African-led local weather resilience efforts.

Yellen acknowledged America’s contribution to the development of West Africa’s largest wind farm, situated simply exterior Dakar.

On Saturday she is going to attend the groundbreaking of a U.S.-financed rural electrification undertaking that’s being led by an American engineering agency.

Yellen’s journey comes on the heels of final month’s U.S.-Africa Leaders Summit, the place Biden dedicated $55 billion in financial, well being and safety help to the continent over the subsequent three years.

A number of members of the Biden administration, equivalent to Secretary of State Antony Blinken and Particular Local weather Envoy John Kerry, have already traveled to Africa.

Biden, first girl Jill Biden and Vice President Kamala Harris even have plans to go to.

U.S. engagement with Africa took a backseat throughout the administration of former U.S. President Donald Trump. In the meantime, Beijing was investing billions in African infrastructure tasks and turning into Africa’s largest buying and selling accomplice, whereas Russian-backed paramilitary forces fanned out throughout the continent.

Africa is house to a few of the world’s largest mineral reserves, which can be crucial for the Biden administration’s plans to advertise clear power.

Sarah Danzman, a global research professor at Indiana College Bloomington, summed up the aim of Yellen’s Africa go to.

“The U.S. needs to emphasise that U.S. funding is a greater and extra dependable technique to ship extensively shared development and prosperity throughout the continent,” she mentioned, “exactly as a result of it’s clear, aligned with values of democracy and human rights, and likewise tied to governance reforms to cut back corruption.”

That’s in stark distinction to the Chinese language mannequin of funding, which has prioritized fast building and useful resource extraction over good governance necessities, she added.

After Senegal, Yellen will proceed her journey with stops in Zambia and South Africa.