 | |
| Agency overview | |
|---|---|
| Formed | December 20, 2019 |
| Preceding agency |
|
| Headquarters | Washington, D.C. |
| Motto | Investing in Development |
| Agency executives |
|
| Website | www |
The United States International Development Finance Corporation (DFC) is a development finance institution and agency of the United States federal government. DFC invests in development projects primarily in lower and middle-income countries.[1] First authorized on 5 October 2018 by the BUILD Act, the independent agency was formed on 20 December 2019 by merging the Overseas Private Investment Corporation (OPIC) with the Development Credit Authority (DCA) of the United States Agency for International Development (USAID), as well as with several other smaller offices and funds.[2][3]
DFC's lending capacity is used to provide loans, loan guarantees, direct equity investments, and political risk insurance for private-sector led development projects, feasibility studies, and technical assistance.[4] DFC invests across several sectors including energy, healthcare, critical infrastructure, and technology,[5] with stated priorities of women's empowerment, innovation, investment in West Africa and the Western Hemisphere, and climate change.[6]
- ^ Akhtar, Shayerah I.; Brown, Nick M. (10 January 2022). U.S. International Development Finance Corporation: Overview and Issues (Report). Congressional Research Service. p. 13.
- ^ "President Donald J. Trump Signs H.R. 302 into Law". whitehouse.gov. Retrieved 15 October 2018 – via National Archives.
- ^ Thrush, Glenn (2018-10-14). "Trump Embraces Foreign Aid to Counter China's Global Influence". The New York Times. Retrieved 15 October 2018.
- ^ U.S. International Development Finance Corporation (Report). Congressional Research Service. February 2022.
- ^ Akhtar and Brown 2022, p. 19.
- ^ Akhtar and Brown 2022, pg. i.