US Treasury Under Secretary To Visit Ghana

John Taylor, Treasury Under Secretary for International Affairs, will focus on development in sub-Saharan Africa when he visits four nations May 24-31.

Taylor will begin his visit in Kampala, Uganda on Tuesday, May 25 where he will lead the United States delegation to the annual meetings of the African Development Bank (ADB). The United States is supporting the increased use of grants to finance development projects from the ADB?s African Development Fund. Taylor will host a meeting of African officials to discuss the benefits of multilateral development bank grants for greater development effectiveness. Taylor?s schedule in Uganda will include a panel discussion of strategies to develop mortgage markets in Africa. He will also meet with officials from the government of Uganda and hold a series of bilateral meetings with official representatives from African nations.

On Wednesday, May 26 Taylor will travel to Abuja, Nigeria to attend a conference of the Money Market Association of Nigeria. On Thursday, May 27 he will present the keynote address at the conference. Taylor?s remarks will focus on the importance of sound monetary policy for development. While in Abuja, Taylor will also attend a USAID-sponsored roundtable on the development of the Nigerian mortgage market where he will announce an innovative new program aimed at microfinance for housing and small business.

Benin and Ghana were recently named as countries eligible to receive funding from President Bush?s Millennium Challenge Account. On Friday, May 28 Taylor will visit Cotonou, Benin to meet with government officials and representatives from the donor community to discuss development efforts underway in Benin and the development of projects for possible MCA funding. Before departing for Ghana, on Saturday morning Taylor will visit two HIV/AIDS projects funded by the International Development Association (IDA) ? the World Bank?s financing arm for the poorest countries.

Taylor previously visited Accra, Ghana in May 2002. This return trip will provide an opportunity to assess Ghana?s progress in reaching its goals for poverty alleviation and increasing economic growth. On Sunday, May 30, Taylor will visit two markets and a completed road project that were supported by IDA funding. He will also meet with local officials to discuss development issues and to view new wells.

On Monday, May 31, Taylor will meet with senior officials of the government of Ghana to assess the country?s progress in implementing their program to generate economic growth. In the afternoon he will deliver remarks at an event hosted by the Institute of Economic Affairs that will be attended by government officials, academics, and representatives from donor countries and non-governmental organizations.

Under Secretary Taylor will depart Accra Monday evening and return to Washington on Tuesday, June 1.