DFC CEO Ben Black Discusses Global Energy and Telecom Investments at Semafor’s Next 3 Billion Summit

NEW YORK - U.S. International Development Finance Corporation (DFC) CEO Ben Black today highlighted DFC's efforts to build up energy infrastructure and telecom networks during Semafor's Next 3 Billion Summit in New York City. The conversation was moderated by Prashant Rao, global managing editor at Semafor.

On developing energy infrastructure:

"The U.S. is the largest producer of crude and natural gas in the world, and a massive exporter of it... So what does it mean to help export U.S. gas and make sure that our allies and friends have energy security? It really goes down the chain and you have to look at some types of vertical integration to make sure you're covering the ports, you're covering the terminals, you're covering the pipelines and power generation, and that fits so well with American business. If you look at the I Squared deal we did at our previous board, that's going to unlock $17 billion worth of U.S. exports in LNG."

On DFC's WIOCC deal to create safe and secure telecoms networks in Africa:

"Our WIOCC deal is a a pan-African equity investment, and actually at the time, the largest equity deal DFC had done. What it allows for is the continued building of networks, cloud infrastructure, and a lot of telecoms ability to run on U.S. pipes. And as we get to AI investment and the future of technology across Africa, not building on U.S. friendly rails would be madness."

On DFC's investment thesis:

"We are looking to make money for the American taxpayer, meet the strategic interests of the United States, and move the needle for development for our allies and partners... Our guiding light, my metric is: is this good for the American people? Are we serving the interests of the U.S. people broadly? I think that does stand the test of time. Because ultimately the U.S. is here as the greatest friend to other nations, freedom for investment and to open markets, and I think it benefits American citizens at the same time."

These remarks have been lightly edited for clarity.

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The U.S. International Development Finance Corporation (DFC) is the international investment arm of the United States Government and central to U.S. economic statecraft. DFC mobilizes private capital to advance U.S. foreign policy and economic development. Our investments deliver strong returns for American taxpayers, drive meaningful economic development for our allies and partners, and secure supply chains to counter and outcompete our adversaries.