DFC’s Approval of $300 Million Financing for Sustainable Infrastructure Projects to Include Countries Party to IPEF

Media Release


Approximately $1.2 billion in capital will be invested through I Squared Capital


WASHINGTON – The U.S. International Finance Development Corporation (DFC) affirmed its approved $300 million financing for sustainable infrastructure projects in emerging markets will include countries party to the Indo-Pacific Economic Framework for Prosperity (IPEF), in cooperation with the U.S. Department of Commerce.

I Squared Capital, a global infrastructure investment manager, will invest in climate change mitigation and adaptation, including impactful and sustainable investments across renewable energy, resource recovery, and digital infrastructure, in order to reduce the carbon footprint of existing infrastructure in emerging markets. For every dollar of DFC financing, I Squared will commit an additional $3 from the funds it manages, mobilizing up to $900 million of equity capital to support climate infrastructure projects.

"DFC uses the full range of our financing tools to support the private sector in meeting the demand for high-quality infrastructure projects. This is crucial for connecting communities in the developing world to the opportunities of a global marketplace," said Scott Nathan, DFC Chief Executive Officer. “Our work with I Squared Capital is an important example of these efforts. We are pleased to affirm our intent to work with I Squared Capital to promote sustainable and inclusive growth that will benefit workers and consumers in many key markets.”

“The United States is committed to supporting inclusive economic development in a way that meets the urgent needs of the climate crisis,” said Gina Raimondo, U.S. Secretary of Commerce. “The fund will generate major investments for sustainable infrastructure projects, including in eligible countries that become parties to the IPEF clean economy agreement that we are currently negotiating, which will include ambitious commitments on climate mitigation, adaptation and resilience.”

“It is a great honor to continue I Squared Capital’s work with the U.S. International Development Finance Corporation and the Department of Commerce to develop sustainable infrastructure in the markets that need it most,” said Sadek Wahba, Chairman and Managing Partner of I Squared Capital.“Public-private partnerships are critical vehicles for private capital to support necessary infrastructure projects that create good-paying jobs and seek to protect developing economies from the impact of climate change.”

In May 2022, the United States launched IPEF with Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, and Vietnam. Through this initiative, the IPEF partners aim to contribute to cooperation, stability, prosperity, development, and peace within the region. This framework will fuel economic activity and investment, promote sustainable and inclusive economic growth, and benefit workers and consumers across the region.

The 14 IPEF partners represent 40 percent of global GDP and 28 percent of global goods and services trade. Under the Clean Economy Pillar (Pillar III), in particular, the IPEF Partners seek to shape the policies, standards, and regulatory frameworks necessary to create a more welcoming environment for clean technology investments in support of their transitions to cleaner economies.


The 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.  

I Squared Capital is an independent global infrastructure manager focused on investing in North America, Europe, Asia, and Latin America. Headquartered in Miami, the firm has more than 220 professionals across its offices in Miami, Hong Kong, London, New Delhi, Singapore, Taipei, and Sydney. I Squared Capital has invested in a diverse portfolio of 77 companies in 59 countries with over 31,000 employees across the utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure sectors providing essential services to millions of people around the world.