With a wary eye on China, U.S. President Joe Biden announced an agreement aimed at bolstering trade ties between the United States and Africa on Wednesday after years in which the continent took a back seat to other U.S. priorities.

"The United States is 'all in' on Africa's future," Biden told African leaders attending a three-day summit in Washington.

Biden's remarks, and the summit, aim to show that the United States is a better partner for Africa than China, which has sought to expand its influence by funding infrastructure projects in Africa and elsewhere. Chinese trade with Africa is about four times that of the United States, and Beijing has become an important creditor by offering loans with less stringent conditions than Western lenders.