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DFC Expands Global Impact With Record-Breaking Investments in Fiscal Year 2024

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Total annual commitments more than doubled since agency’s launch five years ago
Driving global development with more than 180 strategic transactions

WASHINGTON, Oct. 24, 2024 /PRNewswire/ — The U.S. International Development Finance Corporation today announced that it committed a record $12 billion in investments in Fiscal Year 2024 to projects that are improving lives and promoting economic growth across the developing world by expanding access to food, energy, healthcare, critical infrastructure, and financial services.

In Fiscal Year 2024, DFC tackled some of the world’s greatest challenges by supporting transactions in 44 countries, with a total portfolio spanning over 110 countries across Africa, the Middle East, Latin America, Europe, and the Indo-Pacific. DFC’s new commitments are expected to finance 450,000 smallholder farmers, generate 4,600GWh of renewable energy, improve healthcare for more than 11 million patients, and fuel growth for 380,000 micro, small, and medium-sized businesses.

“Fiscal Year 2024 was a remarkable year for DFC, both in terms of volume of investment and our impact on some of the world’s most pressing challenges. In just five years since its creation, DFC’s private-sector-led approach has established DFC as a pivotal instrument in U.S. foreign policy and a key player in the development finance space,” said DFC CEO Scott Nathan. “The new investments made this year will provide badly needed financing to entrepreneurs and businesses, driving economic growth and stability in the countries where we work. I’m proud of the hard work and accomplishments of the DFC team to support development and bolster U.S. national security.”

In Fiscal Year 2024, DFC committed to over 180 transactions. Activity included:

Invested where American values and interests intersect. DFC’s dual focus on global development and American national security helps ensure its investments benefit both the United States and the host countries.

  • In Angola, DFC’s board approved a loan of up to $553 million to the Lobito Atlantic Railway to support the upgrade and rehabilitation of more than 800 miles of rail and a mineral port to help ensure the reliable transport of minerals that are critical to the clean energy transition. In a related transaction, DFC also committed a $3.4 million technical assistance grant to Pensana to conduct feasibility studies to advance development of a rare earth mine and refining facility in the Lobito Corridor.
  • In Indonesia, an up to $126 million DFC loan to PT Medco Cahaya Geothermal will finance the development of approximately 31.4MW of geothermal power generation capacity in East Java.
  • In South Africa, a $50 million equity investment in TechMet will support the development of the Phalaborwa Rare Earths project, a rare earth element processing facility that will develop a more diverse, resilient, and sustainable critical mineral supply chain, drive the clean energy transition, and create economic opportunity for local communities.

Provided critical support to the people and businesses impacted by the war in Ukraine. DFC continued its support for Ukraine, committing more than $580 million to a wide range of sectors crucial to the country’s recovery and stability amid the conflict. This included one of its signature tools to address the most urgent Ukrainian economic needs and lay a foundation for long-term resilience: political risk insurance.

  • $10 million in political risk insurance will support the rebuilding of a water treatment and water filtration equipment manufacturing facility destroyed during Russia’s invasion.
  • $50 million in political risk insurance will support a reinsurance facility brokered by Aon and distributed by ARX to build a portfolio of war risk insurance policies for companies operating in Ukraine and to support ARX in expanding its war risk insurance offering in the country.
  • $150 million in political risk insurance will help maintain the country’s agriculture operations and alleviate food insecurity.

Strengthened global supply chains. DFC invested in infrastructure to bolster access to essential goods and services including food, energy, healthcare, technology, and critical minerals.

  • In South Africa, a €110 million DFC loan will help Aspen Pharmacare expand its capacity to deliver medicines, diabetes insulin, and pediatric vaccines, increasing local access to life-saving medicines and vaccines across Africa.
  • In Zambia, a $10 million loan to Seba Foods Zambia Ltd. will support the expansion of the company’s storage and production capacity and provide affordable, soy-based consumer food products, strengthening the food value chain in Zambia.
  • In Türkiye, a $350 million loan to Enerjisa Enerji Üretim A.Ş. will finance the development, construction, and operation of nine onshore wind power plants in Western Türkiye that are expected to generate approximately 2.51 terawatt-hours per year.

Advanced high-standard, transparent investing to achieve sustained impact. DFC adheres to the highest standards on worker rights and the environment and works to ensure its investments deliver a sustained positive impact.

  • In India, DFC committed a $10 million loan to Nepra Resource Management for construction of material recovery facilities for the recycling and sustainable disposal of material waste that will reduce waste in landfills.
  • Across Africa, a $250 million tier 2 capital loan to Africa Finance Corporation will strengthen the capital position of a key pan-African multilateral development finance institution to support its operating activities, including investment activities consisting of infrastructure projects critical to economic growth and development.
  • In the Western Hemisphere, a $50 million equity investment in PI Fund V (Ontario), L.P. will increase investments in Latin American infrastructure and address financing gaps to develop critical projects, with a primary focus on Brazil, Colombia, Peru, and Mexico.

Supported the world’s low-income countries and underserved communities. DFC focuses a majority of its transactions in low- and lower-middle-income countries and prioritizes investments that benefit women and other underserved populations.

  • In India, a $50 million loan to InCred Financial Services Ltd. will support lending to women and women-owned businesses using a technology-enabled lending approach designed to expand access to underserved entrepreneurs and individuals.
  • In the Dominican Republic, where nearly one quarter of the population lives below the poverty line, DFC committed $200 million in financing to Banco Popular Dominicano, S.A. to support lending to small businesses, with a focus on women entrepreneurs.
  • In the Philippines, DFC committed a $20 million loan to Lhoopa Singapore Pte. Ltd. that will support a digital platform focused on the development of affordable housing for low-income families throughout the country.

Learn more about DFC’s record-breaking year. 

The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.

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2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels

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ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruitionand the 1 that won’tin 2025

NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.

“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”

What Will Happen in 2025:

QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.

What Won’t Happen in 2025:

Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.

For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

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ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

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Global                                                             
Deborah Petrara                                                           
Tel: +1.516.624.2558                                                   
[email protected]     

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Bybit Champions Web3 Innovation and Strengthens Ties with Asia’s Crypto Community at Taipei Blockchain Week

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DUBAI, UAE, Dec. 24, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange, debuted at the Taipei Blockchain Week Dec. 12 to 14, 2024, spotlighting the vibrant Web3 innovations on its platform alongside a dynamic roster of its strategic Layer 1 ecosystem partners.

Featuring side events in collaboration with the Solana Foundation, the Sui Foundation, and a dazzling lineup of multichain projects, Bybit Web3 dedicated the Taipei tour to building up communities and deepening connections with Web3 ecosystem partners. The Bybit delegation also took the stage to uncover the latest insights on Web3, building with a purpose, and the future of blockchain utilities and DeFi.

Purpose, Innovation, and Partnerships

Representing Bybit at the conference were MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3, and Angela Huang, Bybit VIP Relationship Manager, at various panels.

Expanding on blockchain technology’s potential in building better realities for all, Chin joined as a panellist in the session Marketing Web3: Strategies to Engage and Onboard the Next Billion Users. Chin shared learnings and actionable insights from the Bybit-supported Blockchain for Good initiative (BGA), elaborating on both real-world utilities of blockchain technologies and the trickling down of benefits to grassroot communities.

Meanwhile, Angela Huang moderated three sessions closely tied to Bybit’s mission, steering conversations on crucial industry topics:

  • The panel Bridging TradFi and DeFi: The Exchange’s Role in User Onboarding on Dec. 12 examined how exchanges could elevate access to the digital economy for users at scale.
  • On Dec. 13, Networked Intelligence: The Rise of Decentralized AI explored the intersection of blockchain and AI, showcasing their potential to transform and democratize finance.
  • The Building for Impact: How Female Founders Drive Purpose-Driven Innovation panel on Dec. 14 highlighted the evolving role of women leaders in driving solution-oriented innovation.

Another highlight at the event was amplified globally via Bybit Livestream. Collaborating with the Sui Foundation, Ondo, DeepBook, Scallop, NAVI, and other leading projects, Bybit Web3 led a critical debate on the future of Sui’s growth strategy: Sui Ecosystem Showdown: Mass Adoption vs. Native Growth. Hosted by Emily Bao, Head of Web3 and Spot at Bybit, the livestream attracted over 6,500 viewers live at the Taipei Blockchain Week and globally on Dec. 13.

Deepening Bonds: Key Web3 Ecosystems and Communities

Bybit Web3 brought the local community closer to its world-class ecosystem partners with engaging community events, co-hosting Taiwan DeFi Flow with Sui and Scallop on Dec. 12, and Solana Ecosystem Taipei Greetings with the Solana Foundation and Solar with the support of Orderly Network, Zetachain, Jupiter, and Sonic, on Dec. 14. Through collaborations and innovation, Bybit Web3 opens up new on-chain possibilities for partners and stakeholders to expand the Web3 universe.

These relaxed evening gatherings provided a convivial backdrop for like-minded builders and entrepreneurs to network, exchange ideas, and celebrate their shared enthusiasm for DeFi and dApps in Asia’s growing Web3 innovation hub.

“It’s been an incredible experience connecting with the builders, believers, users, creators, and supporters driving innovation on Solana and Sui. These moments remind us of the heart and spirit of Web3—a vibrant ecosystem shaped by collaboration and shared vision. I’m deeply proud to witness this growth, grateful for every connection made, and excited for the road ahead,” said MK Chin, Core Contributor for Blockchain for Good Alliance and Head of Marketing of Bybit Web3.

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“Taipei Blockchain Week showcased the immense growth and potential of Web3 innovation in Asia. Representing Bybit, I had the honor to collaborate with industry leaders to explore Web3’s limitless possibilities, from DeFi and AI to real-world applications. Together, we are shaping a more inclusive global crypto community,” said Angela Huang, Bybit VIP Relationship Manager.

In the past year, Bybit has seen exponential growth in its user base, surging to over 60 million by the end of 2024. It has also invested in vertical growth through community engagements across the world. Connected by the passion for the future of crypto, blockchain, and Web3, the Bybit family is on track to building an inclusive and sustainable path to growth for the industry.

 

Bybit’s Angela Huang at the Networked Intelligence: The Rise of Decentralized AI panel at Taipei Blockchain Week 2024.

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 130 million wallet addresses across over 30 major ecosystem partners, and counting.

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as the world’s second-largest cryptocurrency exchange by trading volume, trusted by over 50 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit Web3, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: [email protected]

For updates, please follow: Bybit’s Communities and Social Media

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AIMA Technology Welcomes Top U.S. Dealers to Shape the Future Together

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TIANJIN, China, Dec. 24, 2024 /PRNewswire/ — On December 7, 2024, AIMA Technology Group warmly invited a delegation of five top-performing U.S. IBD dealers to visit its headquarters. Accompanying the group was Angela Zheng, CEO of AIMA’s U.S. subsidiary, AIMA EBIKE, along with her sales, marketing, and customer service teams. This visit not only marked a deepened connection between AIMA and the mainstream U.S. market but also provided U.S. dealers with a valuable opportunity to witness AIMA Technology’s globally leading capabilities in research, development, and manufacturing of electric mobility solutions.

The delegation first toured AIMA’s state-of-the-art factory in Tianjin. Aima Technology possesses production factories with extremely high levels of intelligent manufacturing Additionally, AIMA has integrated advanced technologies such as AI visual recognition and established a CNAS-certified R&D laboratory, maintaining its industry leadership in intelligent transformation. During the tour, the dealers were deeply impressed by AIMA’s cutting-edge technology, large-scale production capabilities, and relentless pursuit of excellence in product development and manufacturing. They expressed that this rare visit not only enhanced their understanding of AIMA but also strengthened their confidence in promoting AIMA products as a symbol of outstanding performance and exceptional quality to their customers.

Furthermore, AIMA Technology’s R&D team engaged in in-depth discussions with the dealers regarding the new models AIMA EBIKE plans to launch in 2025. The dealers test-rode prototypes of the latest models and shared their innovative insights. They expressed high praise for AIMA’s product innovation capabilities and market acumen, recognizing these as key factors that distinguish AIMA in the industry.

Later, the dealers joined AIMA Technology’s team to witness the rollout of the 10,000th AIMA E-Bike. This milestone moment showcased AIMA’s exceptional manufacturing strength and market influence. The dealers were inspired and expressed strong confidence in the promising future of their partnership with AIMA.

This visit from the top-tier U.S. dealer delegation not only deepened mutual trust and friendship but also injected new momentum into AIMA’s ambition to become a leader in the U.S. E-Bike industry by focusing on the IBD channel. Looking ahead, AIMA Technology will continue to strive to provide market-leading performance and quality, enhancing its product development and manufacturing capabilities while working hand-in-hand with global dealers to create an even brighter future.

 

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