US DFC Approves Over $8 Billion in Investments Across Ukraine, Jordan and Africa
The US International Development Finance Corp has approved more than $8 billion in new investments in Ukraine, Jordan and Africa, including its largest digital bet to date.
The United States International Development Finance Corp has approved more than $8 billion in new investments spanning Ukraine, Jordan and Africa, in a move aimed at deepening trade ties between Washington and its partners.
The board-approved package is designed to protect essential services in partner countries while giving priority to American export growth, reliable energy and US technology, the agency said. It described one of the approvals as its largest digital investment so far.
"These projects will support billions in American exports, secure critical infrastructure and resources in Ukraine, Jordan, and across Africa, and strengthen U.S. companies competing in some of the most important markets in the world," said Ben Black, the agency's chief executive.
What was approved
- A $500 million trade financing facility, developed with the World Bank's International Finance Corp, to help US firms reach emerging markets in South America, Southeast Asia and Africa.
- Financing for Vodafone Ukraine, the country's second-largest mobile operator and a wholly owned subsidiary of NEQSOL Holding, to modernise critical telecommunications infrastructure amid the ongoing war with Russia.
- An €85 million ($97.5 million) loan to DTEK, Ukraine's largest private energy company, to expand battery storage capacity.
- A loan to Jordan's National Carrier Project Company, along with political risk insurance for equity investors Meridiam and Suez, to support construction, operation and maintenance of a seawater desalination plant and conveyance system.
- An investment of up to $155 million in WIOCC, an African digital infrastructure provider, signalling Washington's backing for projects it views as key to the expansion of US technology firms.
The DFC, the US government's primary investment arm, has raised its investment ceiling to $205 billion and shifted its priorities toward mining, extractive industries, energy and digital infrastructure. The pivot is intended to counter China's global influence and to secure vital supply chains for the United States.