U.S. agrees to work on electric vehicles in Africa

Vice President Kamala Harris on Tuesday opened the U.S.-Africa Leaders Summit in Washington by spotlighting Africa's youthful population — making the case that the continent's demographics will inevitably lead it to become a key global player in the decades to come.

As part of the efforts, Secretary of State Antony J .Blinken signed of a memorandum of understanding in which the U.S. will support the DRC and Zambia in developing an electric vehicle value chain. "The plan to develop an electric battery supply chain opens the door for U.S. and like minded investment to keep more value added in Africa," Blinken said.

The vice president also announced that the administration would invest an additional $100 million to expand the Young African Leaders Initiative and that the U.S. Export-Import Bank was entering new memorandums of understanding that will clear the way for $1 billion in new commercial financing in Africa. About 60% of Africa's population is under 25, and the young population is to grow to 80% by 2050, which Harris said makes increased focus on the continent necessary.