The government-backed US International Development Finance Corporation (DFC) recently approved the disbursal of a total of USD 1 billion to 12 projects in emerging markets in Africa, Latin America and the Indo-Pacific region that seek to strengthen health systems; food security; employment opportunities; technology; education; and access to financial services for underserved groups such as women and small and medium-sized enterprises (SMEs). Sixty percent of the funding is allocated to low- and lower-middle-income countries. Among the 12 funding segments are USD 200 million for lending to SMEs in Guatemala, USD 150 million to empower women in Ecuador, and USD 200 million for financial inclusion in Colombia and Mexico.
DFC CEO Adam Boehler stated, “These projects will uplift some of the most underserved communities around the world…. The impact of these projects will be particularly meaningful as the world continues to fight the health and economic fallout of the pandemic.”
DFC was launched in 2020 to “help businesses expand into emerging markets, foster growth and improve lives in the developing world while reinforcing US foreign policy and national security interests.” The organization has an investment cap of USD 60 billion to deploy in forms such as equity placements, insurance, technical assistance and research. DFC focuses its efforts on low-income and lower-middle-income countries in areas such as “energy, healthcare, critical infrastructure and technology.”
By Madigan Ruch, Research Associate
Sources and Additional Resources
DFC press release
https://www.dfc.gov/media/press-releases/dfc-approves-1-billion-investments-global-development
Previous MicroCapital news on DFC
https://www.microcapital.org/microcapital-brief-us-international-development-finance-corporation-dfc-loans-30m-to-sewas-sitara-for-housing-microfinance-for-women-in-india/
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