PRESS RELEASE

U.S. EMBASSY - MASERU

AUGUST 16, 2004

 INCREASING CAPITAL FLOWS TO AFRICA IS FOCUS OF SEPT. 29-30

CCA/EX-IM BANK CONFERENCE IN JOHANNESBURG

             U.S. Charge d’Affaires in Lesotho, Karl Albrecht, today announced the Corporate Council on Africa (CCA) and the Export-Import Bank of the United States (Ex-Im Bank) have organized a continent-wide conference in Johannesburg, South Africa on Sept. 29-30, 2004, to explore ways to increase capital flows to Africa. The proposed Metolong Dam project for Lesotho is scheduled to be presented to conference participants.     “Infrastructure development is key to Lesotho’s economic growth, and increased capital flows are critical to building this infrastructure,” said Charge d’Affaires Albrecht.

            CCA President Steve Hayes declared, “The breadth of the conference agenda – from best practices and current trends in accessing capital to public-private partnerships and risk mitigation  -- coupled with networking by African, American and international financiers and project sponsors, are designed to further Africa’s economic development.”

            “Africa is a top priority market for Ex-Im Bank’s business development efforts,” said Ex-Im Bank Chairman Philip Merrill.  “We hope that U.S. and African financial institutions, businesses, and governments can develop and expand productive working relationships through this conference.  Meeting Africa’s needs through procurement of U.S. goods and services also can benefit U.S. companies and their workers.”    A copy of the full agenda of the conference, including registration information, is available at the Corporate Council on Africa’s web site: www.africacncl.org.

 Information about Ex-Im Bank and the conference also can be found on Ex-Im Bank’s web site:  www.exim.gov.

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