The United States has approved nine investments initiatives to the tune of $925 million this quarter, ending September 2021.
The move advances the agency’s development mission and bolstering President Biden’s Build Back Better World (B3W) Initiative.
The new investments, include projects that will combat climate change; boost distributed renewable energy in Nigeria, Ghana, Senegal, and Togo.
The agency has also approved 32 smaller investments totaling more than $500 million since the last quarterly Board meeting in June 2021.
These approvals bring total DFC investments approved over the last quarter to more than $1.4 billion across 40 distinct projects, DFC’s largest number of project approvals within a single quarter till date.
The project will lmprove financial inclusion, healthcare, food security and agriculture throughout Sub-Saharan Africa, Latin America, and the Indo-Pacific.
It will also make public lighting more effective and smart city infrastructure in Brazil.
This was announced in the U.S. International Development Finance Corporation (DFC) Board of Directors meeting and made available in a statement
The DFC’s Board of Directors also approved five additional projects that will advance technology startups in Africa, grow affordable housing throughout West Africa, support businesses in healthcare, technology, and renewable energy in Nepal, boost MSMEs that support financial inclusion globally.
The investments approved this quarter advance DFC’s development strategy Roadmap for Impact and are part of U.S. government and DFC priority initiatives.