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USADF President releases statement on fiscal 2008 budget request
WASHINGTON - February 8, 2007
In his fiscal 2008 Budget Request to Congress, the President of the United States, George W. Bush, has submitted a recommendation for US$30 million in funding for the United States African Development Foundation (USADF). Earlier this week, USADF President Rodney J. MacAlister responded to the request.
“USADF works to overcome poverty in Africa by investing in African-owned and managed enterprises. The impact of our investments is considerable: in FY06 USADF investments had a direct impact on 46,553 people through job creation, and USADF-assisted enterprises generated US$82.3 million in revenues, contributing to the creation of a dynamic private sector and helping to improve incomes and living standards.”
“In many of the 16 countries where we work, USADF has co-funding agreements with our African host governments, which multiply the impact of US taxpayer dollars. USADF considers the willingness of host governments to enter into co-funding agreements as a tangible recognition of the effectiveness of our work”, continued Mr. MacAlister. “Furthermore, in the past year USADF has received formal invitations to commence operations in eight African nations, which is a reflection of the confidence in our program. The funding recommendation included in the President’s FY 2008 Budget Request will enable USADF to strengthen existing country programs and to respond to requests to expand into new countries. We urge Congress to approve the President’s recommendation which will enable USADF to move closer to achieving our vision of ending poverty in Africa”.
Cynthia Phillips, Director of Legislative and Public Affairs for USADF, echoed Mr. MacAlister’s remarks, saying, “USADF is extremely grateful for all the support we have received from the Office of Management and Budget, as well as members of the House and Senate, all of whom have played an important role in securing this request”.
The United States African Development Foundation (USADF) is a United States Government agency dedicated to expanding access to economic opportunity in Africa. Founded in 1980, USADF established field operations in Africa in 1984, and has active country programs in 16 countries. Over the past 20 years, USADF has funded over 1,600 projects in support of African entrepreneurs and local African communities and currently manages a portfolio of 240 investments valued at US$38 million.
For more information on USADF, its programs and application guidelines, visit www.usadf.gov.