Washington, D.C. — 2nd Annual Conference to Engage Key Stakeholders in Infrastructure Development in Africa
Ambassador John J. Danilovich, Chief Executive Officer for the Millennium Challenge Corporation (MCC), will address The Corporate Council on Africa's (CCA) 2007 U.S.-Africa Infrastructure Conference, it was announced today.
The 2nd annual U.S.-Africa Infrastructure Conference will be held at the Grand Hyatt in Washington, D.C. from October 8-10, 2007.
"MCC, under the dynamic leadership of Ambassador Danilovich, has invested in numerous infrastructure projects on the continent. MCC understands investments in infrastructure are important to poverty reduction and sustainable development and we are pleased to have him participate in this year's conference," said CCA President Stephen Hayes . "CCA and MCC are partners in Africa's development, as economic development in Africa can only help our own economy and national interests."
Ambassador Danilovich began his duties as Chief Executive Officer for the Millennium Challenge Corporation on November 7, 2005. Prior to joining the MCC, Ambassador Danilovich's distinguished career includes more than thirty years in both the public and private sectors. He served as U.S. Ambassador to Brazil and Costa Rica and was active in the international shipping business for over two decades.
MCC partner countries recognize that poor infrastructure is an impediment to private sector investment on the African continent because it drives up the cost of doing business. As a result, many MCC eligible countries have requested MCC funds be used to improve their infrastructure. In these countries, significant investments in new infrastructure and the commitment of the necessary expenditures to maintain it are seen as critical elements in their poverty alleviation strategies.
"I am delighted to participate in CCA's second annual U.S.-Africa Infrastructure Conference highlighting the important role of infrastructure development in reducing poverty and promoting economic growth. This forum provides a unique platform to showcase the potential infrastructure investment opportunities in Africa," Ambassador Danilovich stated .
Aptly titled "Building on Stability," this year's U.S.-Africa Infrastructure Conference will highlight African countries that have laid the foundation for investment in infrastructure development through sound economic policies.
Benefiting from the success of last year's conference, CCA reports registration numbers for this year's event continue to climb. A key aspect of this year's conference will be the increased focus on risk management in Africa. Experts will discuss best practices, and strategies to minimize risks. In addition, business opportunities in key growth sectors including water, security, energy, roads and rails, transportation, as well as information and communications technology, will be highlighted.
To date, event sponsors include the DynCorp International, Raytheon Company, Global Strategies Group, General Electric, U.S. Agency for International Development, U.S. Department of Transportation, OPIC, African Business and New African magazines, All Africa Global Media, Africa Investor and Times Publications.
The private sector invested over $4.5 billion in infrastructure in Africa in 2005, according to a 2006 annual report of the Infrastructure Consortium on Africa. Almost 75% was invested in mobile telephony, but some countries also received investments from Independent Power Producers, and from concessionaires taking over the management of rails, ports, and power distribution.
Millennium Challenge Corporation (MCC), a U.S. Government corporation designed to work with some of the poorest countries in the world, is based on the principle that aid is most effective when it reinforces good governance, economic freedom, and investments in people that promote economic growth and elimination of extreme poverty. Visit MCC's website at www.mcc.gov .
CCA, established in 1993, is a nonpartisan 501 (c) (3) membership organization of nearly 200 U.S. companies dedicated to strengthening the commercial relationship between the U.S. and Africa. CCA members represent nearly 85 percent of total U.S. private sector investments in Africa. Visit CCA's website at www.africacncl.org for up-to-date information on the organization and upcoming events.
