U.S. International Development Finance Corporation

DEPARTMENT OF THE TREASURY | TITLE VII

F.Y. 2024 Recommendation No Less Than:

$1.1 B

F.Y. 2023 Enacted: $1.0 B

F.Y. 2024 President's Request: $1.02 B

F.Y. 2024 Recommendation No Less Than:

$1.1 B

F.Y. 2023 Enacted: $1.0 B

F.Y. 2024 President's Request: $1.02 B

Description

The U.S. International Development Finance Corporation (DFC) is the successor agency to the Overseas Private Investment Corporation (OPIC) and USAID’s Development Credit Authority (DCA). The DFC partners with the private sector to finance solutions to help meet critical needs in housing, health, energy, infrastructure, water, and more in developing contexts.

Use of Funds

DFC funding provides loans and loan guarantees, technical assistance, feasibility studies, political risk insurance, equity investments, and other support to projects and companies. Investing in both for-profit and non-profit initiatives, the DFC is designed to generate a return that is either reinvested in new projects or returned to the U.S. Treasury.

Justification

Over 69% of DFC projects are in low- and lower-middle income countries and fragile states.
In F.Y. 2021, the DFC committed $6.7 billion to 139 projects, mobilizing an additional $22.4 billion in private capital. This included:
- $2.3 billion in energy committed, including 591 GWh of energy projected to be produced annually.
- $201 million committed for food and agriculture, including 1.1 million smallholder farmers supported.
- $454 million committed in 21 investments toward climate.
- $999 million committed in the health sector including $7 billion COVID-19 vaccines manufactured and distributed.