Agency will invest up to $2 billion to support private sector investment in global health resilience
WASHINGTON – U.S. International Development Finance Corporation (DFC) today 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. Through the initiative, DFC 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.
The agency seeks to invest between $5 million and $500 million 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 $2 billion across eligible projects and mobilize an additional $3 billion in private sector capital alongside its investments.
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 U.S. 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. The call for proposals is now open and will be accepting submissions indefinitely. Interested parties can review the full eligibility criteria and learn how to submit a proposal. Submissions will be reviewed on a rolling basis and selected through a competitive process upon the discretion of DFC.
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 U.S. 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.
U.S. International Development Finance Corporation (DFC) is America’s development bank. 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.
Originally posted on DFC’s website.