AFRICA – US International Development Finance Corporation (DFC) has announced a new Health and Prosperity Initiative, which includes a call for proposals from private sector entities seeking DFC support for health-related investments in developing countries.
The agency seeks to invest between US$5m and US$500m per eligible project through its full range of financial tools, which includes equity and debt financing, political risk insurance, and technical development.
Through the initiative, DFC seeks to commit up to an aggregate US$2bn across eligible projects and mobilize an additional US$3bn in private sector capital alongside its investments. DFC also aims to mobilize private sector investment in support of global health resilience.
“The unprecedented health crisis we face today underscores the importance of resilient health systems to global prosperity, stability, and security,” said DFC Chief Executive Officer Adam Boehler.
“DFC is committed to supporting private sector solutions to health challenges in developing countries, which are too great to meet with government resources alone.”
DFC will focus attention on projects that support the global COVID-19 pandemic response, especially through investment in health system capacity, including supply chains that expand the distribution of diagnostics, therapeutics, vaccines, and other medical supplies, products, and equipment.
Eligible projects should deliver highly impactful health outcomes in developing countries by strengthening health systems, supporting infrastructure development, and expanding access to clean water, sanitation, and nutrition.
DFC will prioritize investments that complement other U.S. Government global health programs and advance the agency’s 2X Women’s Initiative by empowering women, who are often disproportionately impacted by crises like COVID-19.
The initiative will support the US Government’s SAFER international response to COVID-19 and the broader Global Health Security Agenda.
DFC is accepting proposals for projects in all countries in which the agency is authorized to invest, with a focus on countries in Africa that are particularly vulnerable to health challenges.
In response to COVID-19, DFC is working with existing and new clients to advance solutions that bolster health services and inject liquidity into developing countries.
DFC is also working with other US Government agencies, NGOs, foundations, the private sector, and regional development banks as well as the development finance institutions (DFIs) of 15 other countries—grouped under the DFI Alliance —to bring liquidity to the market, support companies impacted by the virus, and promote new investment in global health, safety, and economic sustainability.