DFC announces support for Indo-Pacific projects
The US International Development Finance Corporation has unveiled new plans to support investments in multiple countries across the Indo-Pacific region, including Vietnam, Myanmar, Cambodia, India, and the Pacific Islands.
During the third annual Indo-Pacific Business Forum in Hanoi, DFC highlighted a range of projects and initiatives.
DFC signed a new Letter of Interest with AES Corporation indicating interest in supporting an LNG terminal facility and 2,250MW combined cycle power plant in Son My, Binh Thuan Province, Vietnam. The project will help diversify and expand the country’s energy mix through the production of gas-fired electricity generation and the development of key LNG infrastructure.
DFC signed a new investment incentive agreement with South Pacific country, Tuvalu. The agreement establishes a framework that permits DFC’s mobilization of private sector investment, advancing economic growth and developmentcUnder the agreements, DFC may make available its investment tools — including debt and equity financing, insurance, and technical support — to advance economic prosperity.
DFC agreed to provide a loan of up to $40 million to Frontiir Co to support the expansion of its broadband network and to help meet increasing demand for access to digital services in Myanmar.
And the dfi will provide a loan of up to $190 million to Trans Pacific Networks to support construction of a 15,200km submarine fiber optic cable connecting Singapore, Indonesia, and the United States. The new cable will expand and enhance internet access across the region, including to isolated islands.
