This week in development…
- This week leaders of nearly 50 African countries convened in Washington for the first-ever US-Africa Leaders’ Summit. On the discussion table were issues of trade, governance, and security, with particular emphasis on US-Africa business. During the US-Africa Business Forum the United States pledged over $33 billion in new commitments to Africa, $12 billion to Power Africa, and over $14 billion was pledged by the private sector to increase US-Africa business ties.
- On August 6, at a US-African Leaders Summit symposium entitled “Investing in Our Future,” Michelle Obama held a special event with former first lady Laura Bush and the first ladies of two dozen African countries. The event highlighted the role of women in health and development on the continent, as well as the need for improved education and leadership among women.
- On August 6, African civil society leaders presented recommendations to the US House of Representatives that aimed to boost peace, human rights, security, democracy, and economic growth in Africa. The group highlighted the role of regional trade in achieving these goals, recognizing that there is little intercontinental trade among African countries.
- On August 7 the UNFAO reported global food prices have “hit a six month low” due to supply expectations and “production prospects.” In particular the prices of grains, vegetables, and dairy have experienced recent declines.
- India’s Prime Minister Modi announced India will supply $1.25 billion in concessional credit to Nepal to promote economic development, with particular emphasis on hydroelectric power production.
- On August 9, Pacific Forum countries will gather for the first Thailand-Pacific Island Countries Forum, focused on the theme of “Strengthening Development Cooperation toward Common Prosperity.” Thailand has shown increasing interest in strengthening regional economic ties over the past decade, with particular interest in fish and energy resources.
Katherine Perry is a researcher with the Project on Prosperity and Development at CSIS.