DEPUTY TREASURY SECRETARY WOLIN TO VISIT RWANDA, TANZANIA, AND SOUTH AFRICA - ADDITIONAL DETAILS RELEASED

Fri. October 30, 2009; Posted: 10:35 AM

CONTACT: Natalie Wyeth, Treasury Public Affairs (202) 622-2960

DEPUTY TREASURY SECRETARY WOLIN TO VISIT RWANDA, TANZANIA, AND SOUTH AFRICA - ADDITIONAL DETAILS RELEASED

Trip to Highlight Importance of Continent's Key Economic Growth Issues, Including Infrastructure, Food Security, and Investment

WASHINGTON - The U.S. Department of the Treasury today announced additional details regarding Deputy Treasury Secretary Neal Wolin's trip to Africa October 28 - November 5, 2009. The Deputy Secretary will meet with senior government officials in Kigali, Rwanda; Dar Es Salaam, Tanzania; and Pretoria and Johannesburg, South Africa to discuss strategies to reduce poverty and drive economic growth in the region.

Deputy Secretary Wolin's trip will highlight U.S.-African partnerships, including President Obama's commitment to advance food security and sustainable agricultural-led growth through country-owned strategies, as well as bolstering infrastructure, strengthening the financial sector, and improving the investment climate. The U.S. provides substantial development assistance in these areas through the work of the Millennium Challenge Corporation and the U.S. Agency for International Development (USAID), as well as through its leadership at and funding for the World Bank and African Development Bank.

On Friday, Deputy Secretary Wolin will visit a USAID and African Development Bank Dairy Competitiveness Project outside of Kigali, Rwanda to highlight the role that small dairy farmers play in the country's economy. The five-year project, implemented by Land O'Lakes, Inc., aims to improve the quality of milk reaching consumers and help small dairy farmers and informal processors increase their competitiveness.

On Saturday, the Deputy Secretary will visit a methane power project at Lake Kivu, one of the African Great Lakes lying on the border between Rwanda and the Democratic Republic of Congo. The innovative pilot power plant, fueled by methane extracted from the lake, was financed by the Government of Rwanda and received technical support from the World Bank's International Finance Corporation (IFC) and the African Development Bank. Based on the success of this pilot, ContourGlobal - a U.S. power developer active in developing countries - is constructing a $325 million, 100MW power plant at Lake Kivu that will help address Rwanda's enormous power needs. Rwanda's lack of reliable electricity is a major constraint on achieving higher rates of sustainable growth. The project is a leading example of the role that U.S. investors can play in helping Africa to address its critical infrastructure needs.

While in Kigali, the Deputy Secretary will also meet with Rwandan President Paul Kagame, Minister of Finance James Musoni and other senior government officials to discuss the impact of the global financial crisis on Rwanda and ways in which Rwanda and the U.S. can continue to partner on food security, agricultural development, and financing for key infrastructure.

On Sunday, Deputy Secretary Wolin will travel to Dar Es Salaam, Tanzania. While there, he will tour an International Institute for Tropical Agriculture (IITA) research station, which focuses on the cassava plant, to learn more about the importance of adaptive agriculture research in boosting yields in sub-Saharan African agriculture and to underscore the U.S. government's commitment to financing research of this kind. Tanzania is one of the top five producers of cassava on the continent. IITA's work in Tanzania has resulted in modern processing methods and equipment to produce safe cassava products. Funded by USAID, the World Bank and a variety of other development partners, IITA is an international non-profit research organization whose mission is to enhance food security and improve livelihoods in Africa through research-for-development.

On Monday, the Deputy Secretary will meet with Tanzanian President Kikwete, Minister of Finance Mustafa Mkulo and other senior government officials to discuss efforts to reform the country's investment climate and address the various growth challenges facing the nation, including agricultural and infrastructure development. Deputy Secretary Wolin will also discuss ways to support Tanzania's agricultural sector with productive public investments.

During his stay in Dar es Salaam, the Deputy Secretary will also visit the National Food Reserve Agency (NFRA). Originally created during the continent-wide food shortage in 1974, NFRA procures, stores, and releases emergency food stocks and provides farmers in rural areas with alternative market outlets. Another significant part of the U.S. Government's support for food security in Tanzania is the Millennium Challenge Corporation's (MCC) program to improve roads in many parts of the country, including the Sumbawanga - Tunduma road that forms a key part of the Tanzania - Zambia transport corridor and that will link to regions supported by NFRA.

On Tuesday, Deputy Secretary Wolin will travel to South Africa, the largest economy in sub-Saharan Africa and an important partner in the G-20. While there, he will meet with senior government officials to discuss the G-20's efforts to support a global economic recovery, the prospects for South Africa's economy, and international financial regulatory reform.

On Wednesday, the Deputy Secretary will deliver a speech at the University of the Witwatersrand's Business School in Johannesburg entitled, "Global Crisis to Global Recovery; How partnerships between the U.S. and sub-Saharan Africa can promote long-term growth on the continent."

The visit marks the first trip to Africa by a senior Treasury official during the Obama Administration.

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