DFC approves new Africa-focused projects
The U.S. International Development Finance Corporation (DFC) has approved several new Africa-related transactions.
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The U.S. International Development Finance Corporation (DFC) has approved several new Africa-related transactions in the first quarter of FY2025.
The approved transactions include:
Helping Kenya’s health clinics go high-tech: A $1 million loan to Ilara Health will help upgrade private outpatient clinics delivering care to underserved communities in Kenya through procurement of diagnostic devices, health management technology, and pharmaceutical products. (Read more: How Ilara Health found a way to sell healthcare devices to informal clinics in Kenya)
Financing women and smallholder farmers around the world: A $15 million loan to debt and equity fund Incofin cvso will enable loans in mostly rural and agriculture-focused microfinance institutions in Latin America, Africa, Eastern Europe, Central Asia, South Asia, and Southeast Asia.
Giving Africa the tools to upgrade infrastructure: A $20 million loan to Loinette Capital will help this growing asset-financing company provide small and medium-sized businesses across sub-Saharan Africa with access to machinery critical to civil infrastructure and agricultural projects. The company’s focus is on funding earthmoving equipment and other construction equipment critical in the development of African infrastructure.
Reforestation for carbon credits in Africa: Approximately $500,000 in technical assistance funding to Carbon Ventures Advisors will help develop a reforestation project in the Democratic Republic of the Congo to restore approximately 6,000 hectares of degraded Miombo woodlands, verify the resulting carbon credits, and, if successful, enable the sale of those credits to buyers of carbon credits.
Enriching Kenya’s soil: $237,500 in technical assistance to Safi Organics will support feasibility studies for new biochar manufacturing facilities in Kenya and development of associated biochar carbon credit from the activity, supporting economic empowerment of local farmers through expanding access to high-quality and affordable fertiliser.
Strengthening Africa’s supply chains: A $20 million bond investment in Solevo Group, Africa’s leading specialty chemical distributor with over 100 years of expertise, will expand its distribution capacity for agricultural inputs such as tailored NPK blended fertilisers, organic solutions, and biological products in Côte d’Ivoire. This investment aligns with the U.S. Government Global Food Security Strategy by enhancing the availability of high-quality, customised inputs to create more resilient supply chains, thereby improving the continent’s food security.
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