DFC Announces More Than $1.8 Billion in Investments and New Initiatives at U.N. General Assembly

NEW YORK CITY - The U.S. International Development Finance Corporation announced at the 79th U.N. General Assembly investments totaling more than $1.8 billion and new initiatives in health and pandemic preparedness, critical mineral supply chain diversification, and climate financing designed to help solve some of the world's most critical challenges.

Senior representatives from across DFC, led by Deputy CEO Nisha Biswal, took part in bilateral meetings and high-level discussions with international leaders from the public and private sector with the aim of growing investments and cultivating quality financing to address urgent developmental priorities and drive economically sustainable outcomes.

DCEO Biswal announced several new DFC transactions and initiatives during the U.N. General Assembly, including:

• Expanding vaccine manufacturing globally: DFC and Gavi, the Vaccine Alliance, announced a new expansion to their donor liquidity partnership. Building on support put in place during COVID-19, the $1 billion Rapid Financing Facility will now allow Gavi to access funds from donors making new pledges for pandemic response or routine immunization much faster over the coming years. This addresses one of the key shortcomings of the early COVID-19 response, when delays in accessing finance ultimately delayed access to vaccines.
• Bolstering African vaccine production: To support the production and distribution of life-saving medicines and vaccines in Africa, DFC, IFC, Proparco, and the German Development Finance Institution (DEG) announced a joint financing package for Aspen Pharmacare Holdings Limited. This includes €110 million from DFC, €150 million from IFC, €140 million from Proparco, and €100 million from DEG.
• Expanding financing for global health crises: DFC signed an MoU with peer G7 development finance institutions, MedAccess, the European Investment Bank, and International Finance Corporation for the Surge Financing Initiative for Medical Countermeasures (MCMs). Building on lessons from the COVID-19 pandemic, the initiative will focus on the procurement, production, and distribution of vaccines, therapeutics, diagnostics, and other MCMs for low- and lower-middle-income countries.
• Advancing financing in democratic openings: DFC has provided over $348 million for new transactions in Moldova, Tanzania, and Zambia as part of the broader efforts by the United States and USAID to support countries experiencing democratic openings worldwide. With these latest commitments, DFC's total investment in countries benefiting from the Democracy Delivers Initiative has surpassed $2.38 billion since 2022. This includes $320 million in financing from DFC and Citi for CRDB Bank to strengthen its ability to provide loans to small businesses, particularly those owned and led by women.
• Bolstering impactful investment in Nigeria: A $200 million loan to the Nigeria Mortgage Refinance Company for the prefinancing or refinancing of residential mortgages will support affordable home ownership for low- and middle-income households. In addition, DFC will be providing a $100 million loan to First City Monument Bank that will increase lending to small and medium-sized women-owned and -led businesses, with a focus on longer-term loans to support their growth and development. DFC also announced a $20 million loan to Robust International Pte. Ltd. and Robust International Commodities Ltd. to support the processing and export of cashew and sesame products, as well as expansion of their smallholder farmer sourcing program in Nigeria. Nigeria is one DFC's largest portfolios in Africa, with approximately $1 billion committed across 19 active projects.
• Growing cooperation on critical mineral supply chains: A joint statement with allied development finance institutions and export credit agencies will establish the Minerals Security Partnership Finance Network to strengthen cooperation and promote information exchange and co-financing among participating institutions to advance diverse, secure, and sustainable supply chains for critical minerals.
• Accelerating renewable energy in high-growth markets: A $50 million equity commitment to Copenhagen Infrastructure Growth Markets Fund II will increase investment in renewable energy infrastructure projects in high-growth markets in South and Southeast Asia, Latin America, South Africa, and Central and Eastern Europe, focused on large-scale onshore and offshore wind, solar PV, storage, and Power-to-X greenfield projects in line with the U.N. Sustainable Development Goals.
• Increasing access to medical oxygen in Africa: A $10 million loan to Hewa Tele in Kenya will address supply shortages for medical oxygen, which contribute to preventable deaths from pneumonia and other respiratory illness. With ongoing public health emergencies such as Mpox, DFC remains committed to reinforcing global health security and improving health outcomes for those most in need.

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The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.