US International Development Finance Corp approves more than $8 billion in new investments

WASHINGTON, Sept 16 (Reuters) - The U.S. International Development Finance Corp announced on Wednesday more than $8 billion in new investments in Ukraine, Jordan and across Africa aimed at strengthening and increasing trade between the United States and its allies.

The investments, approved by the DFC's board, "will secure essential services in partner nations while prioritizing American export growth, securing reliable energy, and advancing U.S. technology, including DFC’s largest digital investment to date," it said in a statement.

“These projects will support billions in American exports, secure critical infrastructure and resources in Ukraine, Jordan, and across Africa, and strengthen U.S. companies competing in some of the most important markets in the world,” said Ben Black, the agency's chief executive.

DFC, the U.S. government's main investment arm, has expanded its investment cap to $205 billion and shifted its focus toward mining, extractive industries, energy and digital infrastructure, with an eye to countering China's global influence and securing vital supply chains for the U.S.

Here are some of the projects approved:

- a $500 million trade financing facility that will help U.S. companies access emerging markets in South America, Southeast Asia and Africa, in partnership with the World Bank's International Finance Corp.

- financing for Vodafone Ukraine, the country’s second-largest mobile operator, and a wholly owned subsidiary of the NEQSOL Holding, to strengthen and modernize critical telecommunications infrastructure during the ongoing war against Russia.

- an €85 million ($97.5 million) loan to Ukraine's largest private energy company, DTEK, to expand its battery storage, DFC and DTEK said on Wednesday.

- a loan to Jordan's National Carrier Project Company and political risk insurance for the equity investors, Meridiam and Suez, to advance the construction, operation, and maintenance of a seawater desalination plant and conveyance system.

- an investment of up to $155 million in African digital infrastructure provider WIOCC, underscoring Washington's support for projects seen as critical to the expansion of U.S. technology companies.