From May 20 - 31, US Treasury Secretary Paul O'Neill will travel to four sub-Saharan nations in Africa. The trip will give Secretary O'Neill an opportunity to highlight efforts to enhance the effectiveness of development assistance, the importance of increasing productivity through investment in human capital, and the role of the private sector as an engine for economic growth. The trip includes visits to Ghana, South Africa, Uganda and Ethiopia.

Recently, President Bush announced his Millenium Challenge Account initiative that will provide increased assistance to countries that exhibit stronger governance, implement policies designed to promote greater productivity and a more attractive investment environment, and strengthen their investments in their people. This trip is well-timed as we move forward in developing this important initiative.

Above all, this trip will give the Secretary and Treasury staff an opportunity to see first hand conditions in Africa and to listen to those on the front lines of trying to improve the standard of living for many of the world's poorest people.

Secretary O'Neill will begin his trip with a visit to Ghana. Moving on to South Africa on May 24, the Secretary and his team will meet with business leaders and financial sector representatives from Africa's largest economy.

He hopes to learn how businesses and individuals are dealing with the HIV/AIDS crisis and addressing other development challenges. Following his South Africa visit, Secretary O'Neill will travel to Uganda and will conclude his trip in Ethiopia.

Secretary O'Neill is very pleased that Bono from U2 will also be in Africa for much of this itinerary. For more information on Bono's plans, please contact Regine Moylett on rmp@easynet.co.uk
A press advisory detailing Secretary O'Neill's press availability while in South Africa will be sent in the upcoming weeks.

For further information please contact: Judy Moon at 012-342-3006 x 2009 or 082-858-2251