Secretary Powell to Speak at the U.S.-Africa Business Summit

Good afternoon, ladies and gentlemen. If I can, let me remind you of one event -- well, two events at one place tomorrow. The Secretary of State will be attending a signing ceremony for the rail line that runs from the deep water port of Nakala on the Indian Ocean in Northern Mozambique through Malawi to Eastern Zambia. That will take place over at the Washington Hilton, where he will then give the keynote address to the U.S.-Africa Business Summit.

So that's an event tomorrow and the ceremony is at noon, and then after that he'll deliver the luncheon address. So he'll be talking about Africa. As you know, the President just gave his speech to the same group and talked about general policy.

The signing ceremony is for a $30 million support financing from OPIC, from the Overseas Private Investment Corporation, to rehabilitate the port and rail facilities of this important corridor. It will be the first integrated port and rail operation to be operated by the same concession in Africa, and represents a new era for U.S. investment in Africa.

So that's an important event tomorrow. It's a practical application of our support for development and regional integration in Africa.