U.S. International Development Finance Corporation (DFC) approved new transactions worth billions of investment to help solve some of Africa’s greatest development challenges. The recently approved investments listed below will advance economic growth in emerging markets while promoting Biden-Harris Administration priorities such as global health, food security, internet and communications technology (ICT), gender equity, clean energy, and climate adaptation and resilience.
The projects below were approved at the Corporation’s last Board meeting, held on September 8, 2022.
Investing in renewable energy solutions in Sub-Saharan Africa: A $40 million direct investment in the Energy Entrepreneurs Growth Fund, including both senior and junior debt positions, will finance companies providing off-grid renewable energy solutions across Sub-Saharan Africa.
Facilitating agricultural development in Africa: A $20 million loan to One Acre Fund will provide financing for fertilizer and other agricultural inputs, aiming to increase farm yields in Sub-Saharan Africa, with a strong focus on female farmers.
Supporting smallholder farmers in Africa: A $4.5 million loan portfolio guaranty for MyAgro Farms, a non-profit social enterprise, will enable it to supply high-quality agricultural inputs for smallholder farmers in Mali, Senegal, and Tanzania; more than half of which are women.
Bolstering food systems and climate smart agriculture in lower income countries: In collaboration with USAID’s Bureau for Resilience and Food Security, a $19 million loan portfolio guaranty for responsibility Climate Smart Agriculture & Food Systems Fund will support climate smart investments for global small and medium businesses operating across the food system, including in production, processing and logistics, retail, and technology.
Promoting sustainable agriculture and food security worldwide: A $10 million investment in MCE Empowering Sustainable Agriculture, a $40 million debt fund, will provide financing to agribusinesses and rural farmers, improving long-term food security in lower income countries.