WASHINGTON, D.C. May 24 – The U.
S. International Development Finance Corporation’s (DFC) Chief Executive Officer (CEO) Scott Nathan has announced a new financing package that supports Kenyan President William Ruto’s economic engagement priorities with the United States. This package, which elevates DFC’s exposure above $1 billion, also includes plans to open a DFC office in Nairobi.
“The U.S. and Kenya have strong ties that include a robust relationship with the private sector,” CEO Nathan said.
“With this week’s announcements, DFC is doubling down on its commitments to Kenya’s development, with investments into energy, e-mobility, and infrastructure. DFC is also expanding its on-the-ground presence by opening an office to help us better pursue opportunities across the region.” The more than $250 million new DFC financing package, announced during President Ruto’s State Visit to Washington, D.
C., includes several multimillion-dollar commitments for critical projects in Kenya. These projects include financing affordable student rental housing in Nairobi, bolstering digital connectivity, and advancing e-mobility and renewable energy.
These projects are clear demonstrations of America’s commitment to partnering with Kenya and the region, as well as DFC’s dedication to creating jobs and spurring economic growth. DFC is working to open a regional office at the U.S.
Embassy in Nairobi, which will support private sector development in Kenya and across Afric.