02 January 2020
U.S. International Development Finance Institution Officially Opens its Doors
U.S. International Development Finance Corporation (DFC) has officially opened its doors, ushering in a new era of U.S. development finance and foreign policy. As America’s development bank, DFC will help businesses expand into emerging markets, foster growth, and improve lives in the developing world, while reinforcing U.S. foreign policy and national security interests.
DFC combines and modernizes the existing development finance functions of the U.S. Government—namely the Overseas Private Investment Corporation (OPIC) and USAID’s Development Credit Authority (DCA). The new agency was created with bipartisan support through the Better Utilization of Investments Leading to Development (BUILD) Act and has been preparing to launch since October 2018.
In addition to OPIC and DCA’s previous capabilities, DFC is equipped with new resources and tools to multiply its impact. Enhancements include increased investment cap and new financial tools such as equity investments, technical assistance, and feasibility studies to more proactively address development needs.
Having already facilitated investments of up to $ 160 million from OPIC, Wings and Freeman will continue working with DFC to further support businesses in obtaining financing as well as benefiting from other products offered by the new Agency.
For the Agency's new corporate web-site, please follow the link.