The U.S. International Development Finance Corporation (DFC) has approved a new package of investments that includes digital infrastructure and critical minerals projects in Africa, alongside a trade finance partnership targeting emerging markets.

The investments form part of more than $8 billion in new transactions approved by DFC’s Board of Directors on September 16. For Africa and other emerging markets, the approvals focus on digital connectivity, critical minerals and expanding the capacity of local banks to finance international trade.

In Sub-Saharan Africa, DFC will make an equity investment in WIOCC Group to support the expansion of digital infrastructure across the continent. The size of the investment was not disclosed in the announcement.

WIOCC operates an open-access and carrier-neutral digital infrastructure platform spanning 30 African countries. Its network includes subsea cables, terrestrial fibre infrastructure and more than 40 core and edge data centres.

DFC is investing alongside Vision International Investment Company and the Africa Finance Corporation (AFC). The transaction is intended to expand access to digital infrastructure and support technology companies seeking to grow their operations across African markets.

The development finance institution is also supporting a critical minerals project in West Africa, although details of the transaction remain confidential due to commercial sensitivities. DFC said some of the newly approved projects remain subject to additional steps before commitment and closing, including congressional notification.

Beyond Africa-specific transactions, DFC approved a counter-guarantee to the International Finance Corporation (IFC) for its Global Trade Finance Program, which operates across emerging markets.

Under the partnership, DFC will share risk with IFC on trade finance guarantees issued specifically for US exports. The structure is designed to increase the capacity of participating local banks to finance cross-border transactions and provide businesses in emerging markets with greater access to trade finance.

DFC said the arrangement could facilitate billions of dollars in international transactions while expanding the trade finance capabilities of local financial institutions.

“These projects will support billions in American exports, secure critical infrastructure and resources in Ukraine, Jordan, and across Africa, and strengthen U.S. companies competing in some of the most important markets in the world,” said Ben Black, CEO of DFC.

The latest approvals come as DFC increases its investment activity in strategic sectors including technology, telecommunications and critical minerals. The institution provides debt, guarantees, political risk insurance and equity investments to projects and companies across emerging and developing markets.