DFC Marks Largest Year with More Than $7.4 Billion Committed in FY 2022 

Media Release


WASHINGTON – In Fiscal Year 2022 (FY 22), U.S. International Development Finance Corporation (DFC) committed more than $7.4 billion to address many of the world’s greatest challenges. During FY 22, DFC leveraged the full array of its financial tools, including increasing its equity and investment fund commitments to more than a billion dollars and more than doubling its technical assistance work. These offerings allow DFC to provide support to early and growth-stage companies and to secure broader private investment. 

“2022 was a record fiscal year for DFC with numerous deals that demonstrate the development and strategic impact that our work can have,” said DFC CEO Scott Nathan. “From bolstering health infrastructure to providing reliable and sustainable power, the projects and companies that DFC has financed are making a difference in communities in need all over the developing world. I am proud of the DFC team for what they have accomplished and look forward to even more impact in the coming year.”

DFC supports countries facing significant gaps in development that hinder inclusive economic progress. Throughout its portfolio, it catalyzes private sector investment, providing these countries with a necessary alternative to financial mechanisms that indebt them and often leave them without sustainable solutions.

Notably, through its work advancing the Partnership for Global Infrastructure and Investment (PGII), DFC projects can improve roads and bridges, provide access to healthcare, increase broadband to underserved communities, deliver clean and reliable power, help women grow their businesses, and more. Alongside partner G7 development finance institutions, DFC is helping narrow the infrastructure gaps in the developing world by mobilizing private sector investments advancing sustainable developmental outcomes. These investments are values-driven, meet a high standard, and provide transparency that is often lacking. In the coming year, DFC will execute more investments that offer a necessary alternative to those presented by strategic competitors.

Addressing the Climate Crisis and Promoting Renewable Energy

Climate change has a disproportionate impact on developing countries, which are often more vulnerable given existing challenges with poverty, food insecurity, lack of access to energy, and connectivity.  In FY 22, DFC worked to address the climate crisis while recognizing that climate, energy, food security, and infrastructure needs are often intertwined.

DFC commitments include: 

  • Promoting renewable energy in Egypt: DFC’s purchase of a $50 million green note issued by Virtuo Finance S.A.R.L is supporting a new tool for climate finance in emerging markets.
  • Supporting solar energy in Malawi: A nearly $25 million direct loan in Golomoti JCM Solar Corporation Limited will finance a 20-megawatt (MW) solar power plant and 5MW/10-megawatt hours battery energy storage system in Malawi’s Dedza district. The project will create a solar supply chain alternative that is more secure than those funded by other global actors.
  • Securing critical minerals for global supply chains: A $30 million equity investment in TechMet Limited at an important moment for the retrieval and conveyance of critical minerals. The project builds upon existing DFC support for the development of critical minerals and secures critical supply chains for renewable energy transition. 
  • Supporting renewable energy and securing supply chains in India and Southeast Asia: DFC committed to provide an up to $500 million loan to First Solar—a competitive U.S. solar panel manufacturer based in Tempe, AZ—to be used for the construction and operation of a new manufacturing facility in Tamil Nadu, India. While supporting climate change mitigation, the project improves solar supply chains and increases the standards previously used to align with U.S. values.

Advancing Food Security 

Estimates show that more than 820 million people around the world are affected by hunger and food insecurity. Amidst the global food security crisis, DFC made investments in innovative companies and funds across the globe to advance sustainable agriculture and bolster food availability. During FY 22, DFC more than tripled its annual goal for food security project commitments. 

DFC commitments include: 

  • Supporting smallholder farmers with fertilizer across Sub-Saharan Africa: An up to $20 million loan to One Acre Fund to facilitate the provision of agricultural inputs, mainly fertilizer, and services on credit to approximately 412,000 smallholder farmers (1,648,000 farming household members) including approximately 206,000 female farmers to increase their harvests. 
  • Increasing output of Latin American agribusinesses to meet global food challenges: A $50 million DFC equity investment in Aqua Capital Fund III targets business development for enterprises in Latin America focused on agriculture and food value chains, especially in improved agricultural yield, water management, distribution, and job creation and particularly in rural areas. This investment will promote digitalization, sustainability practices, and regional integration in a secure manner.

Responding to Russia’s War Against Ukraine 

In FY 22, DFC played an important role in the U.S. response to Russia’s war of choice against Ukraine by pursuing strategic investments that advance U.S. foreign policy and national security priorities in the region. Investments are helping address the energy crisis, supply chain disruption, and economic insecurity resulting from the war.  

DFC commitments include: 

  • Mobilizing capital for businesses in western Ukraine: In collaboration with USAID, DFC’s $15 million loan portfolio guaranty to Bank Lviv will enable lending to micro, small, and medium-sized businesses in western Ukraine, including to women entrepreneurs and smallholder farmers. 
  • Bolstering energy and infrastructure investments: DFC will provide up to $300 million in financing to the Three Seas Initiative Investment Fund to support energy investments that enhance energy security, facilitate energy diversification, and improve connectivity in Central and Eastern Europe. 
  • Supporting energy security in Eastern Europe: $400 million in DFC political risk insurance for energy provider ERU is advancing energy diversification efforts in Moldova. 

Financing Small Businesses and Women Entrepreneurs

Limited access to financial services disproportionately impacts women and rural populations, restricting economic growth in emerging markets. Many developing countries face a considerable credit gap that prevents women-owned small businesses and entrepreneurs from reaching their full potential. DFC advanced numerous projects in FY 22 that are working to close this financing gap, enabling these key populations to contribute to their countries’ economic growth.

DFC commitments include:

  • Supporting rural and migrant borrowers in Colombia: In collaboration with USAID, a $17.5 million loan portfolio guaranty to Mibanco – Banco de la Microempresa de Colombia S.A. is supporting lending to migrants and rural borrowers in Colombia.
  • Increasing access to capital in Sri Lanka: A $100 million direct loan to the Commercial Bank of Ceylon, Sri Lanka’s leading commercial private bank, is expanding lending to micro, small, and medium-sized enterprises (MSMEs) to address the credit gap for women-owned businesses, which represent 25 percent of MSMEs in Sri Lanka.

Promoting Health System Resiliency and Pandemic Preparedness

The COVID-19 pandemic highlighted equity and supply security gaps, galvanizing efforts to build regional vaccine manufacturing capacity. DFC is committed to strengthening health system resilience and pandemic preparedness in low- and lower-middle income countries. It invested in vaccine access and supported long-term regional vaccine and other health commodity manufacturing capacity building efforts this year. Through the agency’s Global Health and Prosperity Initiative, DFC also invested in health services and infrastructure, health commodity manufacturing and supply chain, and digital health projects. Together, these projects improve access, affordability, and quality of healthcare, benefitting communities across the developing world.

DFC commitments include:

  • Facilitating COVID-19 vaccine access around the world: DFC and Gavi, the Vaccine Alliance partnered to create the COVAX Rapid Financing Facility, which will provide up to $1 billion to accelerate COVID-19 vaccine and ancillary supply purchase and delivery on behalf of developing countries participating in the COVAX Advance Market Commitment.
  • Strengthening women’s health services in Brazil: DFC is providing a $31 million loan to GIP Medicina Diagnóstica S.A. (“Femme”) to support the expansion of up to 27 modernized women’s health diagnostic centers, which are dedicated to meeting women’s specific health needs such as breast cancer prevention and diagnosis. The expansion will place diagnostic centers in underserved areas, cutting down on travel times and increasing access for low- and middle-income women.


U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.