« I had the honour of signing the investment incentive agreement between Tuvalu and the United States to build an economic bridge between our nations, » Cella said of the signed agreement. CFL can help countries achieve their development goals through equity investments, investment guarantees, investment insurance, reinsurance and co-insurance, feasibility studies for potential projects and other assistance. U.S. Ambassador Joseph Cella said, « I was honored to sign the Nauru-United States Investment Incentive Agreement to build an economic bridge between our nations. On Nauru, there are important infrastructure activities with the help of multilateral development banks and the donor community in the areas of climate protection, port modernization, ICT connectivity, renewable energy and health. Trade between Nauru and the United States increased to US$5 million in 2019, reaching $3.5 million at the end of the third quarter of this year. In 2015, two-way trade accounted for only $2.2 million. The dynamics of trade and investment between our countries will continue to increase, especially with this agreement. The investment incentive agreement signed today between the U.S. International Development Finance Corporation (DFC) and Nauru creates a framework for DFC, the U.S. Development Bank, to mobilize private investment to support the development of the country`s economic resources and achieve its economic goals. As part of the agreement, DFC can make available all of its investment instruments, including debt financing, equity financing, insurance and technical assistance, to promote effective and effective development.
The agreement contains regulatory, fiscal and legal details that generally include agreements between multilateral development banks and foreign governments. The agreement will give DFC the legitimacy to mobilize private investment, which I hope will advance the development and objectives of the Tuvalu economy. The sectors covered would be energy, health care, critical infrastructure and technology, as well as financing in emerging markets, which constitute human and workers` rights. Access to full investment support is expected by the U.S. International Development Finance Corporation (DFC) or earlier as an OverseasPrivate Investment Corporation (OPIC). The CFL invests in interprofessional sectors such as energy, health, critical infrastructure and technology. DFC also provides financing to small businesses and women entrepreneurs to create jobs in emerging countries. CFL`s investments meet high standards and respect the environment, human rights and workers` rights.
DFC makes America a stronger and more competitive leader in global development, with a greater ability to work with allies in transformation projects.