More investments to bolster infrastructure, energy security, food security, and healthcare from DFC
This quarter, the U.S. International Development Finance Corporation (DFC) approved 17 new transactions totaling more than $655 million of investment. The transactions will support U.S. foreign policy and development priorities across the globe, including enabling sustainable infrastructure and energy security, advancing food security and agricultural innovation, supporting small businesses, and improving healthcare.
In the second quarter, DFC’s Board of Directors approved several projects in Africa:
- Supporting entrepreneurs in Africa building agriculture and climate solutions: A $25 million equity investment in Novastar Africa People + Planet Fund, a fund that backs entrepreneurs with the capability to build and scale innovative solutions to address climate change and support agriculture and climate resilience across Sub-Saharan Africa.
- Expanding access to energy in Africa: A $10 million loan to a technology and financing platform operating in Africa will finance long-term working capital to expand the supply of solar home systems to households and small businesses, providing hundreds of thousands of people with electricity.
- Bolstering agricultural enterprises in northern Ghana: A $10 million loan portfolio guaranty to a local lender will promote lending to small and medium-sized enterprises (SMEs) and rural community banks supporting agribusiness in Ghana, particularly in northern regions of Ghana that face high rates of poverty and malnutrition, with support from USAID.
- Strengthening agricultural value chains in northern Ghana: With support from USAID, a $2.5 million loan portfolio guaranty to a local lender will support agricultural microenterprises and smallholder farmers, particularly in regions of northern Ghana that face high rates of poverty and malnutrition.
- Boosting medical oxygen supply for healthcare in Kenya: A $10 million loan to Hewa Tele Limited will help expand production and distribution of affordable liquid medical oxygen for hospitals and clinics across Kenya, lowering costs for healthcare providers in rural and urban areas.
- Enhancing infrastructure in Lesotho: A $7.3 million loan to African Hotel Infrastructure Fund Maseru (PTY) Ltd, or an entity to be created, will aid in the construction and operation of a Maseru-based hotel, providing local economic and employment opportunities.
- Increasing economic opportunity for underserved communities in Uganda: With support from USAID, a $9 million loan portfolio guaranty to a local lender will support loans to refugees and host communities in Uganda improving livelihoods.
U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets.