USTDA, Meridiam sign pact for African investment

The United States Trade and Development Agency and Paris-based Meridiam SAS (Meridiam) signed a Memorandum of Understanding (MOU) to mobilise capital for infrastructure investment in sub-Saharan Africa through enhanced cooperation on project preparation.

Under the arrangement, USTDA aims to programme up to $20 million in project preparation assistance over the next five years to leverage a targeted total investment of $1.5 billion from Meridiam.

USTDA’s Director, Enoh Ebong, said, “USTDA’s engagement with Meridiam will allow us to leverage each other’s skills, expertise, and resources and achieve our shared goal of high-quality infrastructure in sub-Saharan Africa.

“USTDA offers more than 30 years of experience preparing projects that feature the innovation of our private sector. Our beneficial collaboration with Meridiam will help mobilise capital for transformational infrastructure projects that our partners in Africa have identified as their priorities.”

The MOU establishes new mechanisms to bring projects to fruition by enhancing information sharing on promising upcoming opportunities and jointly prioritising projects where interests align. It will leverage USTDA’s project preparation tools, including feasibility studies, technical assistance and pilot projects, with an emphasis on target industries like energy, transportation, and public infrastructure such as water and hospitals.

In doing so, the MOU will broaden USTDA’s portfolio and facilitate expedited investment decisions by Meridiam.

Founder and CEO of Meridiam, Thierry Déau, said: “I am particularly proud of this official signing which marks an important step in our collaboration with USTDA in Africa. This unique strategic collaboration paves the way for promising opportunities that will enable us to go even further together in implementing ambitious and innovative sustainable development projects in the continent.”