WASHINGTON, D.C. – The U.S. International Development Finance Corporation’s (DFC) Deputy Chief Executive Officer (DCEO) Nisha Biswal traveled to Manila, Philippines, and Jakarta, Indonesia, from May 18-24, where she met with senior government officials and private sector leaders to discuss promoting development and economic prosperity throughout the Indo-Pacific.
In Manila, DCEO Biswal attended the Indo-Pacific Business Forum, speaking with leaders about how DFC is advancing private sector investments that promote economic growth in the Philippines and throughout the region. DCEO Biswal also participated in the inaugural meeting of the Partnership for Global Infrastructure and Investment (PGI) Luzon Corridor Steering Committee.
In Jakarta, DCEO Biswal announced a new DFC commitment for up to $126 million to PT Medco Cahaya Geothermal (Ijen Geothermal) for the development and operation of a new 31MW Phase I power plant. The project will increase power generation in East Java, expand Indonesia’s renewable energy production for one of the country’s largest power grids, and advance the U.S.-Indonesia Comprehensive Strategic Partnership as well as Indonesia’s Just Energy Transition Partnership.
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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.