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DFC marks record fiscal year

Anna Lyudvig
Nov. 16, 2022, 11:41 a.m.
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2022 was a record fiscal year for DFC with numerous deals that demonstrate the development and strategic impact that our work can have, according to CEO Scott Nathan. 

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2022 was a record fiscal year for DFC with numerous deals that demonstrate the development and strategic impact that our work can have, according to CEO Scott Nathan. 

“From bolstering health infrastructure to providing reliable and sustainable power, the projects and companies that DFC has financed are making a difference in communities in need all over the developing world. I am proud of the DFC team for what they have accomplished and look forward to even more impact in the coming year,” he said.

In Fiscal Year 2022 (FY 22), U.S. International Development Finance Corporation (DFC) committed more than $7.4bn to address many of the world’s greatest challenges.

During FY 22, DFC leveraged the full array of its financial tools, including increasing its equity and investment fund commitments to more than a billion dollars and more than doubling its technical assistance work.

These offerings allow DFC to provide support to early and growth-stage companies and to secure broader private investment.      

 DFC supports countries facing significant gaps in development that hinder inclusive economic progress.

Throughout its portfolio, it catalyzes private sector investment, providing these countries with a necessary alternative to financial mechanisms that indebt them and often leave them without sustainable solutions.  

 Notably, through its work advancing the Partnership for Global Infrastructure and Investment (PGII), DFC projects can improve roads and bridges, provide access to healthcare, increase broadband to underserved communities, deliver clean and reliable power, help women grow their businesses, and more. Alongside partner G7 development finance institutions, DFC is helping narrow the infrastructure gaps in the developing world by mobilizing private sector investments advancing sustainable developmental outcomes. These investments are values-driven, meet a high standard, and provide transparency that is often lacking. In the coming year, DFC will execute more investments that offer a necessary alternative to those presented by strategic competitors.  

Some of DFC commitments in Africa include: promoting renewable energy in Egypt with purchase of a $50m green note issued by Virtuo Finance S.A.R.L is supporting a new tool for climate finance in emerging markets;

supporting solar energy in Malawi with a nearly $25m direct loan in Golomoti JCM Solar Corporation will finance a 20-megawatt (MW) solar power plant and 5MW/10-megawatt hours battery energy storage system in Malawi’s Dedza district. The project will create a solar supply chain alternative that is more secure than those funded by other global actors. 

DFC also supported smallholder farmers with fertilizer across Sub-Saharan Africa, providing an up to $20m loan to One Acre Fund to facilitate the provision of agricultural inputs, mainly fertilizer, and services on credit to approximately 412,000 smallholder farmers (1,648,000 farming household members) including approximately 206,000 female farmers to increase their harvests.  

 

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