African power contractors working underground to pull through new power cabling across towns and villages. (AFP Photo)

JERUSALEM, Nov. 5 (Xinhua) -- Israel signed an agreement to join the U.S.-led Power Africa initiative here on Monday.

The agreement was signed between the Israeli Prime Minister's Office and the United States Agency for International Development (USAID).

Power Africa, led by USAID, aims to connect 60 million African households to the electricity grid and add 30,000 megawatts to the power currently installed in the continent by 2030.

Israel joins the program as part of its campaign to strengthen economic ties and cooperation with African countries.

This is great partnership between Israel, the United States and Africa and this is an initiative that will electrify Africa literally and figuratively, said Israeli Prime Minister Netanyahu at the singing ceremony.

It is said that the agreement is expected to create numerous business. Israeli companies in the energy field will be given priority in African projects as part of the agreement between Israel and the United States.

Following the agreement, Israeli companies are able to take part in the Power Africa initiative and will receive a diverse toolbox to promote power generation projects and to connect consumers across the continent.

Israel's international position has changed greatly because of Israeli technological prowess in bettering the lives of people in so many areas, said Netanyahu.

Power Africa is comprised of 12 U.S. government departments and agencies, and it is a diverse coalition of more than 140 public-private sector partners, including bilateral and multilateral partners, international organizations, civil-society organizations, and more than 130 private sector companies.

To date, the U.S. government has disbursed about 500 million U.S. dollars and made more than 2.6 billion U.S. dollars in financial commitments towards Power Africa's goals.

Israel helped agriculture in Africa in the 60s and now can help every realm of life in the beginning of the 21st century, said Netanyahu, "It's a remarkably positive development and we are going to continue this step after step."