WASHINGTON — The U.S. International Development Finance Corporation’s board on Wednesday approved new policies around accountability and foreign currency investing along with billions of dollars in investments — including a $1.5 billion political risk insurance deal to support a natural gas project in Mozambique, which has raised environmental and social concerns.
The decision to make that investment was at least in part driven by foreign policy objectives and to ensure it didn’t fall into Chinese hands, according to Adam Boehler, DFC CEO.
DFC has approved some $3.6 billion in new investments in the past quarter, including the first deal from the Mission Transaction Unit, which was formerly the Development Credit Authority at the U.S. Agency for International Development. It also approved several new investments through its COVID-19 liquidity facility, including in Colombia and Costa Rica.
About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
