WASHINGTON, D.C. – The U.S. International Development Finance Corporation (DFC) Board of Directors at its quarterly meeting approved two new investments that will support economic development in Sub-Saharan Africa and strengthen supply chains of critical minerals vital for American national security.
The meeting was chaired by Deputy Secretary of State Christopher Landau. He was joined by DFC’s public and private sector board members. In advance of the board meeting, DFC also held a public hearing, where stakeholders had the opportunity to share their views on DFC’s work.
DFC’s Board of Directors approved two strategic transactions in Sub-Saharan Africa that will drive economic development and prosperity in the region as well strengthen U.S. critical mineral supply chains essential to advancing U.S. economic growth, security, and innovation in energy, defense, and advanced technologies. These transactions are not being identified at this time due to market sensitivity. Transactions approved by DFC may be subject to additional steps prior to commitment and closing, including Congressional Notification.
Launched during President Trump’s first administration, DFC has established itself as a cornerstone of U.S. national security: advancing foreign policy objectives, strategic competition, and mobilizing private sector solutions to address the world’s greatest development challenges. DFC demonstrates efficient stewardship of taxpayer resources while delivering results for American national security abroad. DFC covers its overhead costs through the revenues it generates from fees, interest, and returns on investment. Since its launch five years ago, DFC has reduced the federal deficit by over $555 million.