Remarks by APNSA Jake Sullivan at the DFC 5th Anniversary Conference
Washington, D.C. – On December 9, 2024, APNSA Jake Sullivan delivered remarks at the DFC 5th Anniversary Conference. In his address, Sullivan highlighted the importance of the DFC’s work in promoting economic growth and development around the world.
Sullivan began by discussing the challenges facing the global economy, including the COVID-19 pandemic, the war in Ukraine, and rising inflation. He stressed that these challenges are not insurmountable, but they require a coordinated effort from the international community.
The DFC’s Role in Global Development
Sullivan praised the DFC for its work in promoting economic growth and development in developing countries. He noted that the DFC has invested more than $100 billion in projects around the world, creating jobs, boosting incomes, and improving living standards.
Sullivan highlighted several specific examples of the DFC’s impact, including:
- A $1 billion loan to the government of Ghana to support the construction of a new gas pipeline. This project will provide reliable and affordable energy to businesses and households, and it will create thousands of jobs.
- A $500 million loan to a private company in Indonesia to build a new solar power plant. This project will help Indonesia transition to clean energy and reduce its reliance on fossil fuels.
- A $250 million grant to a non-profit organization in Kenya to support small businesses and entrepreneurs. This grant will help create jobs and boost incomes in one of Africa’s fastest-growing economies.
The Importance of Private Sector Investment
Sullivan also emphasized the importance of private sector investment in developing countries. He said that the DFC is working to mobilize private capital by providing loans, guarantees, and other forms of support to businesses and investors.
Sullivan noted that private sector investment can help create jobs, boost economic growth, and improve living standards. He said that the DFC is committed to supporting private sector investment in developing countries, and he called on the private sector to do more to invest in these countries.
Conclusion
Sullivan concluded his remarks by saying that the DFC is playing a vital role in promoting economic growth and development around the world. He said that the DFC’s work is making a difference in the lives of millions of people, and he pledged to continue supporting the DFC’s mission.
About the DFC
The DFC is an independent agency of the United States government that provides financing and support for private sector investment in developing countries. The DFC’s mission is to promote economic growth and development, create jobs, and improve living standards in developing countries.
The DFC has a broad mandate to support a wide range of projects, including infrastructure, energy, healthcare, agriculture, and education. The DFC provides loans, guarantees, and other forms of support to private companies, governments, and non-profit organizations.
The DFC is a self-sustaining agency that does not receive any appropriated funds from the U.S. government. The DFC’s funding comes from its investments and from the issuance of bonds.
Remarks by APNSA Jake Sullivan at the DFC 5th Anniversary Conference
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