The US International Development Finance Corporation (DFC), reauthorized by Congress in December, expands its $205 billion portfolio to support private-led projects globally, contrasting with China's state-led approach.
The US is shifting strategy to fund local African processing and mining infrastructure after recognising it cannot yet process the critical minerals it is racing to secure from the continent to counter China. Tom Haslett, managing director of policy for critical minerals at the US International Development Finance Corporation (DFC), said that unlike China, which had “significant industry backing for both processing and downstream manufacturing”, the US and Europe did not yet have that...
The United States is shifting strategy to fund local African processing and mining infrastructure, after recognising it cannot yet process the critical minerals it is racing to secure from the continent to counter China. Tom Haslett, managing director of policy for critical minerals at the US International Development Finance Corporation (DFC), said that unlike China, which had “significant industry backing for both processing and downstream manufacturing”, the US and Europe did not yet have...
G77 nations spend $8tn a year servicing debts, but analysis shows how comprehensive relief could benefit social spendingCutting debt servicing costs for the world’s poorest countries could free up $900bn (£660bn) a year for development, a new report to the UN secretary general has claimed.Prepared by advocacy group Development Finance International (DFI) with the support of the Norwegian government and launched in Oslo today, the analysis warned that the world is facing “the worst ever debt-provoked development crisis”. Continue reading...
The Phalaborwa Rare Earths Project in South Africa received a US$50 million equity investment from the US International Development Finance Corporation, part of accelerated US efforts to secure critical minerals independent of China. The project extracts rare earth elements from industrial mining waste at a former chemical processing plant. The Trump administration plans to deploy nearly US$12 billion to create a US strategic reserve for critical minerals essential for electronics, EVs, robotics and defence systems.
