DFC approves Investments for Q1

Q1 of the fiscal year 2023 will see the the U.S. International Development Finance Corporation (DFC) investing over $465 million in critical infrastructure in areas such as health and sanitation, financial technology in emerging markets, housing and other related areas. The Board of Directors approved the projects during a recent meeting.

The corporation has also approved three more projects target towards the expansion of DFC’s developmental capacities. Altogether the projects come to eight and the value stands at $465million.

The project will provide a key opportunity to developing countries that are currently working to bridge the infrastructure gaps. Analysts say the content needs over $40 trillion by 2045 to bridge the gap.

The current infrastructure deficiencies currently affect about 771 million people across the globe while infrastructure issues around sanitation affect 1.7 billion people. Healthcare is in an even more serious situation as approximately half of the Africa struggle to access standard healthcare services.

Among the planned investment are: a $150 million facility provided to Yilport Terminal Operations in order to upgrade the Puerto Bolívar container port in Ecuador; a $100 million facility provided towards WaterEquity’s Global Access Fund IV; and an equity investment of about $10 million in Transform Health Fund, among others.

A good part of the proposed investments will have to fulfil the Congressional Notification requirement.

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