DFC Approves Investments in Africa to Secure Critical Mineral Supply Chains
During its quarterly board meeting, the US International Development Finance Corporation (DFC) approved two new investments that will reinforce the security of access to #CriticalMinerals while supporting economic development. The deals is in line with the new Foreign Policy of the US in that it will advance US security and growth in energy, defense and advanced technologies.
“I am eager to engage with our colleagues at DFC to catalyze U.S. investment in markets that are challenging in what I call the sometimes ‘forgotten parts’ of the world and also present significant opportunities in areas like information and communication technology, mining critical minerals, and transportation infrastructure. The best part, as you know, is that these investments will actually bring returns to the U.S. taxpayer.”
US Deputy Secretary of State Christopher Landau
The Board of DFC consists of representatives from both the public and private sectors and this board meeting was chaired by US Deputy Secretary of State Christopher Landau. In preparation to the Board meeting, the DFC held a public hearing where stakeholders had the opportunity to voice their views.
“Treasury was pleased to take part in the Board meeting of the U.S. International Development Finance Corporation, and we look forward to working with DFC in support of mobilizing private sector financing for projects that advance President Trump’s America First agenda.”
US Deputy Secretary of Treasury Michael Faulkender
It is to be recalled that the DFC was created during the first Trump administration and has since established itself as ‘a cornerstone of US foreign policy and national security’. Since its launch five years ago, DFC has managed to reduce the federal deficit by over USD 555 million.
For reasons of national security and market sensitivity, the details of the two deals are not disclosed at this particular time. Observers took note that the approval occurred in step with the peace agreement brokered by the US between the Democratic Republic of Congo and Rwanda.