Friday, February 3, 2023

Remarks by Secretary of the Treasury Janet L. Yellen at Weldy Lamont Groundbreaking of Rural Electrification Project

As Prepared for Delivery

Thank you very much for joining me here today.  Breaking ground on this project is an important marker of the progress we are making on electrification across Africa and the world.

Senegal has among the highest rates of electrification across Sub-Saharan Africa, estimated at between 70 and 80%.  Yet significant disparities between urban and rural access to electricity remain.

These gaps can hinder opportunity for households and businesses in areas otherwise ripe for economic development.

Expanding electricity to disconnected areas helps people start new businesses, gives children access to new educational resources, and facilitates residents’ access to basic services.

Simply put, this groundbreaking will create a higher quality of life in many communities, and it will help Senegal’s economy grow and prosper.  It will also help Senegal get one step closer to its goal of universal electricity access by 2025.

A key focus of my trip to Senegal and two other countries in Africa is to discuss ways in which the U.S. and the continent can partner together to benefit both of our economies.

It’s hard to think of a better example than the project we are breaking ground on today.

This project includes extending power to households and businesses that ultimately will see more than 350,000 people secure reliable electricity. And it includes an important renewable energy element with a solar grid to power 70 villages.

This project demonstrates that we can broaden economic opportunity in Senegal, as well as in America. The work being done is supported by an Illinois-based engineering and construction firm – Weldy Lamont Associates – and will help support approximately 500 American jobs in 14 U.S. states. Congratulations to all the staff here in Senegal and back in the U.S. who have made this milestone today of breaking ground possible.

The United States was pleased to support this important investment in Senegal through technical assistance from the U.S-led Power Africa initiative, capacity building through the U.S. Agency for Trade and Development, and a $91 million loan guarantee from the Export-Import Bank.

Our engagement on this project – and indeed on so many projects across Africa – is not transactional, for show, or for the short-term. 

Our goal is to further deepen our economic relationship and to invest in expanding energy access in a way that uses renewable resources spread across the continent. 

With this approach, Senegal can rely on energy sources that are within its borders, cost effective and not prone to volatility in prices. And we are well underway. 

This project builds upon the legacy of Power Africa which has helped connect 165 million people to reliable electricity across Africa.

Since 2021, the U.S. Government has helped facilitate more than 800 two-way trade and investment deals across 47 African countries – for a total estimated value of over $18 billion.

The U.S. government continues to play a critical role in catalyzing sustainable energy infrastructure investments. 

Along with our G7 partners, we launched the Partnership for Global Infrastructure and Investment, or PGII, a values-driven, high-impact, and transparent partnership to help meet the infrastructure needs of low- and middle-income countries.

With the most acute infrastructure needs of any region, Africa is a priority region for PGII. 

Partners across the U.S. government working on supporting infrastructure development through the PGII are deeply engaged in the region and announcing new projects and initiatives on a rolling basis.

The United States is here as a partner and friend for the long haul.  This project is just one small – yet impactful – example of a broad and deep partnership.

Thank you very much. 

Official news published at https://home.treasury.gov/news/press-releases/jy1205

Images courtesy of PixaBay

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Art & Luxury Come Together at Eden Gallery Dubai’s 1st Anniversary

Experience Contemporary Art Like Never Before

Art & Luxury Come Together at Eden Gallery Dubai’s 1st Anniversary
Eden Gallery Dubai

Eden Gallery Dubai

Eden Gallery Dubai, a luxurious destination for contemporary art connoisseurs, is proud to celebrate its 1st anniversary. Nestled in the heart of Dubai, next to the iconic Burj Khalifa, the gallery boasts a lavish 11,000-square-ft space, with floor-to-ceiling artwork displayed in a modern design that allows the art to take center stage while providing visitors with a beautiful and alluring atmosphere. As one of the most exquisite galleries in the UAE, it's a must-visit for art enthusiasts visiting Dubai.

The Gallery That Redefined Art & Luxury

For over 25 years, Eden Gallery has been showcasing the works of renowned artists in premier locations worldwide. And now, Eden Gallery has brought Its expertise to the Middle East by opening Eden Gallery Dubai. This milestone anniversary marks a year of curating the most extraordinary and diverse exhibitions, featuring the works of some of our time's most exciting and innovative artists. From the bold and striking street art of Alec Monopoly to the vibrant and dynamic paintings of Eduardo Kobra, Eden Gallery Dubai offers a visual feast for art enthusiasts of all tastes. The gallery is also elated to feature the exceptional works of additional talented artists, including Gal Yosef, Angelo Accardi, David Kracov, and many more.

In addition to these exhibitions, Eden Gallery Dubai also hosts various exclusive events throughout the year, providing visitors with a unique opportunity to engage with the art and artists in a more personal and intimate setting. As they look forward to another year of bringing the best in contemporary art to Dubai, they invite everyone to join them in celebrating the 1st birthday of Eden Gallery Dubai.

Eden Gallery Dubai 1st Anniversary: Exclusive Events & Art

Eden Gallery invites guests to mark their calendars and join in a month-long celebration of FebruArt, a series of unique art events as part of their anniversary celebration. Long-time collectors and art enthusiasts are invited to immerse themselves in the vibrant and colorful world of contemporary art at Eden Gallery Dubai. The gallery is located in The Dubai Mall on Fashion Avenue and is open Monday to Sunday from 10 am to 10 pm. This is an opportunity for visitors to experience the epitome of luxury and art at Eden Gallery Dubai.

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