Impact Theses for 

DFC's key sector and 

cross-cutting priorities

August 2023 
Investing in Development DFC | 2

TABLE OF CONTENTS

• DFC's Key Sector and Cross-Cutting Priorities

• Impact Theses: Evidence-backed articulation of DFC’s impact objectives and targets,

expected outcomes, and corresponding metrics for monitoring investments in

priority sectors and strategic initiatives, in alignment with the UN Sustainable

Development Goals (SDGs), Five Dimensions of Impact, IRIS+ and HIPSO.

• Sector priorities

• Infrastructure & Critical Minerals

• Energy

• Health

• Food & Agriculture

• Small Business Support and Financial Services

• Cross-cutting priorities

• Inclusion

• Climate

• Appendix

• Metrics

• SDGs

• Sources
Investing in Development DFC | 3

Our impact management approach is aligned with global standards, 

principles, and frameworks:

DFC works to support projects that address the 

UN Sustainable Development Goals (SDGs)

The Global Impact Investing Network’s (GIIN) IRIS+:

a globally accepted impact management and 

measurement system used by impact investors 

and organizations

The Harmonized Indicators for Private Sector 

Operations (HIPSO): represent the collective 

agreement of DFIs around the world to standardize 

indicators and relieve clients from the unintended 

burden deriving from different reporting requirements

The Impact Standards for Financing Sustainable 

Development (IS-FSD): a framework for donors, DFIs, 

and their private sector partners to make financial 

decisions and manage projects in ways that generate 

a positive impact on sustainable development and 

improve the transparency of development results

The Operating Principles for Impact Management:

a framework for investors for the design and 

implementation of their impact management systems, 

ensuring that impact considerations are integrated 

throughout the investment lifecycle

The Five Dimensions of Impact: a shared set of 

norms on how to manage and communicate impacts on 

people and planet

Alignment to Global Standards for 

Impact Management
Investing in Development DFC | 4

DFC identifies the following five priority sector and two cross-cutting priorities:

Strategic Objectives

HEALTH

Improve population health 

and create robust, resilient 

health systems.

FOOD AND AGRICULTURE

Increase agricultural 

productivity, yield, and 

farmer income.

SMALL BUSINESS 

SUPPORT AND FINANCIAL 

SERVICES 

Increase access to financial 

services and improve 

financial resilience.

ENERGY

Improve access to clean, 

reliable and affordable 

energy.

 INFRASTRUCTURE AND 

CRITICAL MINERALS

Increase connections to 

people and services via 

investments in transportation, 

ICT, WASH, critical minerals, 

and social infrastructure.

 Cross-cutting priorities:

+

CLIMATE

Reduce greenhouse gas 

emissions, reduce climate 

vulnerability, and enable 

sustainable land use 

practices. 

INCLUSION

Advance economic inclusion 

and financial resilience for 

women (2X Women's Initiative) 

and other underrepresented 

populations. 
Investing in Development DFC | 5

Development Impact Targets: 

An Overview

DFC has set development impact targets, in line with the Sustainable Development Goals (SDGs), to drive our contributions toward global 

development efforts and better assess how our capital affects progress toward these goals. In the context of our portfolio, we aim to 

outpace the annual rate of change needed to achieve the SDG targets most aligned to our core sector priorities by 2030. This means 

accelerating the availability of reliable physical infrastructure, expanding access to critical healthcare services, advancing the availability 

of financing for small businesses, and more. Rather than considering only the volume of activity in each sector, we are also focusing on the 

pace of change needed in each area. In doing so, we believe we can move the needle and unlock further global development progress. Our 

updated targets are listed below by priority sector.

Priority sectors & cross-cutting initiatives

Food security and agribusiness

• SDG 1.4: Globally, 930 million rural individuals lack access to financing. To address this gap, DFC seeks to grow the 

number of smallholder farmers supported through its portfolio by >6.2% annually.

• SDG 2.A: Over the past decade, agricultural financing has grown by 2.2% per year. To accelerate this growth further, DFC 

seeks to grow the volume of agriculture sector financing provided through its portfolio by >2.2% annually.

Energy

• SDG 7.1: Nearly 750 million individuals lack reliable electricity access. To address this gap, DFC seeks to grow energy 

access by >1.2% annually through its portfolio.

• SDG 7.2: Across underserved markets, renewable energy comprises only 22% of total energy consumption, indicating 

need for the production of an additional 166,000EJ of renewable energy to meet a 1.5 degree scenario. To address this 

gap, DFC seeks to increase production of renewable energy through its portfolio by >4.2% annually.

Health

• SDG 3.8: On average, underserved markets score 41 (out of 100) on key indices of healthcare quality and availability, 

meaning millions of people have insufficient health services. To address this gap, DFC seeks to grow access to highquality, affordable essential healthcare services and safe and effective essential medicines and vaccines through its 

portfolio by >3.0% annually.

Infrastructure and critical minerals

• SDG 9.C: Globally, 3.2 billion people lack reliable internet access. To address this gap, DFC seeks to grow digital 

connectivity, through its portfolio, by >5.6% annually.

• SDG 9.1: Underserved markets are lagging in the logistics performance index, with an average score of 2.5 out of 5.0. To 

address these infrastructure challenges, DFC seeks to grow transportation infrastructure through its portfolio by >6.1% 

annually.

• SDG 6.1: Globally, 1.2 billion people lack access to clean drinking water. To address this gap, DFC seeks to increase the 

number of connections to water and wastewater services by >6.8% annually.

Small business support and financial services

• SDG 8.3: Around the world, 130 million micro, small, and medium enterprises (MSMEs) lack sufficient access to credit. To 

address this gap, DFC seeks to expand the number of MSMEs accessing finance through its portfolio by >3.0% annually.

• SDG 1.4: Globally, 2.6 billion adults do not bank with formal financial services. To address this gap, DFC seeks to expand 

the number of individuals accessing finance by >4.0% annually.

Inclusion

• SDG 5.A: To achieve parity, over 300 million women still need access to financial services. To address this gap, DFC seeks 

to increase the number of women and women-owned/led businesses accessing finance through its portfolio by >1.2% 

annually.

• SDG 10.2: Only 34% of low-income individuals have financial services accounts. To address this gap, DFC seeks to 

increase the number of low-income individuals accessing finance through its portfolio by >4.1% annually.

Climate

• SDG 13: SDG 13: Addressing the climate crisis requires scaling investment in countries bearing the brunt of climate impacts. To 

address this financing gap, DFC is scaling its climate finance team, supporting a multibillion annual portfolio across sectors, and 

supporting DFC clients in achieving their respective net zero targets.
Investing in Development DFC | 6

WHAT is DFC's annual impact target for these investments? 

HOW MUCH change is happening? 

Targeted outcomes

• Increased access to water, sanitation, and hygiene

• Improved ability to pursue educational opportunities

• Improved physical health

• Increased reliability of critical infrastructure

• Increased business activity and income generation

Key metrics*

• Transportation

• Length of Roads: Constructed, Improved

• Number of Vehicles Using Roads Daily

• ICT

• Number of Cell Towers Constructed

• Number of Data Center Racks

• Length of Transmission Lines Built or Improved

• Number of Subscriptions: Mobile; Fixed Data/Voice

• Number of Subscribers: Affordable Data Plan

• WASH

• Volume of Potable Water Produced

• Volume of Wastewater Treated

• Volume of Waste (Produced; Disposed Total;

Disposed: Recycled/Reused)

• Number of Households; New or Improved

Sanitation Facilities

• Critical Minerals

• Number of Local Employees

• Project Revenue (Local Sales; Exports)

• Value of Procurement, Local Country

• Value of Payments to Government

How does DFC measure its 

development impact?

Infrastructure and Critical Minerals | Impact Thesis

Other related themes and priorities: Inclusion, Health, Small Business 

Support and Financial Services, Climate

Why does DFC invest in Infrastructure 

and Critical Minerals?

WHAT is the problem?

• Insufficient transportation, communication, and infrastructure

in Low and Lower Middle-Income Countries (LMICs) stifles

productivity, reinforces poverty, and threatens private sector

engagement.9

• One billion people live more than a mile from an

all-weather road.10

• Over 3.7 billion people lack access to the internet.11

• More than 2 billion people lack access to safe drinking water

and 3.6 billion to modern sanitation services.

• Demand for minerals needed for a sustainable future, like

graphite and cobalt, could quintuple by 2050.12

WHO is mostly affected?

• Lack of critical infrastructure is experienced most acutely

by low-income and rural households.

• The digital divide persists for women, rural populations, and

SMEs in developing countries.

• Women and children in low-income households are most

impacted by poor WASH infrastructure.

• Demand for critical minerals from LICs and LMICs may

drive economic and job growth. Production must align with

environmental and social standards.13

WHAT is DFC doing to address this problem?

Investing directly or indirectly through financial 

intermediaries lending to infrastructure projects to:

1. Improve access to critical transportation infrastructure

2. Improve ICT connectivity

3. Improve access to WASH infrastructure

4. Spur trade and economic growth

5. Increase the sustainable sourcing and production

of critical minerals

Also linked to:

* Certain metrics are consolidated for presentation purposes; for instance, length of 

road constructed, and length of road are separate metrics in the DFC taxonomy. 

Increase the number of connections to water and wastewater services by >6.8% (SDG 6.1)

Grow digital connectivity by >5.6% (SDG 9.C)

Grow transportation infrastructure by >6.1% (SDG 9.1)
Investing in Development DFC | 7

How does DFC measure its 

development impact?

HOW MUCH change is happening? 

Targeted outcomes

• Increased access to sustainable energy

• Improved quality, quantity, and reliability of electricity

• Reduced greenhouse gas emissions, including from e-mobility

and cleaner transportation

Key metrics**

• Renewable and Non-Renewable Energy Generated

• Number of Connections: On- and Off-Grid; Businesses

and Households; Mini-grids

• Number of Household Power Systems Installed

• Number of Products Sold: Off-grid or Energy-efficient

Lighting Devices

• Energy Storage Capacity

• Length of Transmission Lines Built or Improved

• Frequency of Power Outages (to measure decrease)

• Number of Clients with New Access to Energy

• Greenhouse Gas Emissions (Avoided; Sequestered; Total)

Also linked to:

Energy | Impact Thesis

Why does DFC invest in Energy?

WHAT is the problem?

• Globally, 770 million people do not have access to

electricity.14 Bridging the existing energy divide and securing

equal, sufficient, affordable, and reliable access is key to

economic growth and inclusion.

• Renewable energy represents only 29 percent of global

electricity generation15 and can be a key component for

increasing energy access.

• Demand for electric vehicles is increasing rapidly. With

support, electrifying road transportation could help

achieve net zero emissions by 2050 and can be a key

driver of climate change mitigation.16

WHO is mostly affected?

• Over 450 million rural individuals living in developing

countries have no electricity access.17

• Africa is the least electrified continent in the world. Two-thirds

of Sub-Saharan Africa's population lacks access to power, and

one-third has frequent blackouts and brownouts.

• Low-income and densely populated regions including South

Asia are disproportionately affected. As many as 2 million

premature deaths per year in the region come from

transportation-related air pollution.18

WHAT is DFC doing to address this problem?

Providing debt and equity financing, project finance, political 

risk insurance, and technical assistance to:

1. Increase electricity access and end energy poverty

2. Catalyze investment in infrastructure to support new and

renewable sources of energy

3. Promote energy security

4. Mitigate climate change (e.g., by supporting demand for clean

energy transportation)*

Other related themes and priorities: Inclusion, Food & 

Agriculture, Health, Infrastructure & Critical Minerals

*E-mobility and electric vehicles are included as part of the Energy sub-sector 

focus on Retail and Demand-Side investments (not under the Infrastructure 

sub-sector focus on Transportation).

 **Certain metrics are consolidated for presentation purposes; for instance, 

on- and off-grid business and household electric connections are disaggregated, 

separate metrics in the DFC taxonomy.

WHAT is DFC's annual impact target for these investments? 

Grow energy access by >1.2% (SDG 7.1)

Increase production of renewable energy by >4.2% (SDG 7.2)
Investing in Development DFC | 8

WHAT is DFC's annual impact target for these investments? 

Improve access to high-quality, affordable essential healthcare services and to safe and 

effective essential medicines and vaccines by >3.0% (SDG 3.8)

How does DFC measure its 

development impact?

HOW MUCH change is happening? 

Targeted outcomes

• Increased access and use of essential healthcare services

and products

Intended long-term outcomes

• Improved health and well-being

• Increased health system resilience and pandemic progress

Key metrics

• Number of Patients Served (Disadvantaged Groups;

Low-Income; Women; Total)

• Patient Beds Available: Total

• Number of Loans Provided to Healthcare Businesses

• Healthcare Products: Units or Volumes Sold

Health | Impact Thesis

Why does DFC invest in Health?

Other related themes and priorities: Inclusion 

WHAT is the problem?

• About half of the world’s population lacks access to essential

health services.19

• Low and Lower Middle-Income Countries (LMICs) have

insufficient funding for medical product development

and distribution.

• Healthcare innovations in LMICs are unable to obtain

the capital to scale.

WHO is mostly affected?

• Approximately 2 billion people lack access to essential

healthcare services and products, with vulnerable and rural

populations, including pregnant women, infants,

and children, the most adversely affected.20

• Supply chain failures exacerbate the vulnerabilities these

populations face by impeding access to affordable healthcare,

vaccines, and medicines.

WHAT is DFC doing to address this problem?

Providing debt and equity investment, loan guarantees, political 

risk insurance, and technical assistance to companies, funds, or 

financial intermediaries to: 

1. Improve access to high-quality, affordable healthcare

services, especially for vulnerable populations

2. Expand capacity for regional manufacturers to produce

vaccines, tests, treatments, and other essential medical

products and strengthen the supply chain for distribution

3. Increase access to healthcare innovation and technology,

including digital health

Also linked to:
Investing in Development DFC | 9

WHAT is DFC's annual impact target for these investments? 

Grow the number of smallholder farmers supported by >6.2% (SDG 1.4)

Grow the volume of agriculture sector financing by >2.2% (SDG 2.A)

How does DFC measure its 

development impact?

WHAT is DFC's annual impact target for these 

investments? 

• Grow the number of smallholder farmers supported by

>6.2% (SDG 1.4)

• Grow the volume of agriculture sector financing by

>2.2% (SDG 2.A)

HOW MUCH change is happening? 

Targeted outcomes

• Increased agricultural productivity

• Reduced food waste

• Increased farmer income or assets

• Increased resilience to climate shocks and stressors

in agricultural production

Key metrics

• Average Agricultural Yield (ton/hectare)

• Number of Smallholder Farmers Served as Suppliers

• Number and Value of Loans to Smallholder Farmers

• Project Revenue (Local Sales; US Exports; Other Exports)

• Land Directly Controlled: Sustainably Managed

Food Security and Agribusiness | Impact Thesis

Why does DFC invest in Food Security 

and Agribusiness?

Other related themes and priorities: Inclusion, Health, 

Small Business Support and Financial Services, Climate 

WHAT is the problem?

• Global food production must increase by 60 percent to 110

percent between 2005-2050 to meet growing food demand.21

• ~$115 billion annual financing gap for agriculture in the

12 Feed the Future countries.22

• Stronger commodity supply chains, improved post-harvest

handling, and food market systems are essential to drive

inclusive economic growth and food security.

WHO is mostly affected?

• Low-income, farm dependence households. More than

2 billion of the world’s poorest individuals live in households

that depend on agriculture for income and nutrition.23

• Rural communities, which are often engaged with

smallholder agriculture and have fewer options for credit.

• Women, who comprise 43 percent of smallholder farmers

globally, often lack access or financial ability to adopt

new technologies and quality inputs.24

WHAT is DFC doing to address this problem?

Providing equity investment, project finance, political risk 

insurance, and technical assistance to: 

1. Increase food production, primarily through inclusive

agribusinesses that link smallholder farms to global supply

chains and markets

2. Increase agriculture infrastructure including storage,

processing, and irrigation

3. Increase access to quality locally appropriate and/or locally

adapted agricultural inputs

Also linked to:
Investing in Development DFC | 10

WHAT is DFC's annual impact target for these investments? 

Expand the number of individuals accessing finance by >4.0% (SDG 1.4)

Expand the number of MSMEs accessing finance by >3.0% (SDG 8.3)

How does DFC measure its 

development impact?

HOW MUCH change is happening? 

Targeted outcomes

• Increased access and use to financial services by

underserved populations

• Increased investments in MSMEs

• Improved financial resilience

• Increased business formalization, investment,

and expansion

Key metrics

• Number of Clients Served, including:

• Women and Women-led/owned Enterprises

• Low-income Individuals

• Individuals and Enterprises in Rural Areas

• Micro, Small, and Medium Enterprises (MSMEs)

• Number of Transactions

• Value of Transactions

• Average Transaction Amount

Small Business Support and Financial Services | 

Impact Thesis

Why does DFC invest in Small Business 

Support and Financial Services?

Other related themes and priorities: Inclusion, Infrastructure 

& Critical Minerals, Health, Food & Agriculture

WHAT is the problem?

• Globally, 1.4 billion individuals remain unbanked.25

• Micro, small and medium enterprises (MSMEs), which account

for upwards of 50 percent of worldwide employment, are

underserved by financial institutions.26 MSMEs contribute to

job creation and economic development.

• MSME and individual entrepreneurs' inability to access

financial services inhibits development.

• When people are included in the financial system, they

are better equipped to invest in their health, education,

and businesses.

WHO is mostly affected?

• Low-income groups, women, minorities, and disadvantaged

populations often don’t have collateral

to obtain loans, lack credit history or documentation,

and have no or low financial literacy.

WHAT is DFC doing to address this problem?

Providing equity investment, project finance, political risk 

insurance, and technical assistance to: 

1. Improve access to financial services to

underserved populations

2. Support decent jobs* and foster economic development by

supporting MSMEs

3. Mobilize sustainable sources of capital to

underserved markets Also linked to:

* The ILO defines decent work as employment that pays a fair income and 

guarantees a secure form of employment and safe working conditions.
Investing in Development DFC | 11

How does DFC measure its 

development impact?

HOW MUCH change is happening? 

Targeted outcomes

• Improved income-earning opportunities and financial

resilience for women and other underrepresented groups

• Increased affordability of products for women and other

underrepresented groups

Key metrics

• Number of Clients or Customers Served, including:

• Women (Total, Women-led/Women-owned

Enterprises)

• Rural

• Low-income

• MSMEs

• Smallholder Farmers

• Other Disadvantaged Groups

• Number of Local Employees

• Local Suppliers, including:

• Women-owned/led Enterprises

• Smallholder Farmers

• MSMEs

• Other Disadvantaged Groups

• Number of Women in Leadership Positions, including:

• Number of Senior Management: Total, Women

• Number of Board or Investment Committee Members:

Total, Women

• Target Population: Product Design, Description

Inclusion | Impact Thesis

Why does DFC invest in Inclusion?

Inclusion is a DFC cross-cutting strategic priority

WHAT is the problem?

• Only half of women participate in the global labor force,

compared to 75 percent of men.5

• Worldwide, there is a $300 billion credit gap for formal

women-owned small and medium enterprises (SMEs), which

comprise one-third of SMEs.6

• The annual credit gap for smallholder farmers is about $170

billion, or 70 percent of total demand.7

• 66 percent of youths under age 25 have formal bank

accounts, compared to 79 percent of adults over age 25.8

WHO is mostly affected?

• Underrepresented groups, including women, youth,

low-income individuals, people living in rural areas, people

living with disabilities, refugees, and indigenous peoples,

are less likely to have access to high-quality employment

opportunities, credit, affordable housing, and other

essential services.

WHAT is DFC doing to address this problem?

Applying an inclusive lens to potential investments and 

providing equity investment, project finance, political risk 

insurance, and technical assistance with the objective to:

• Prioritize gender lens investing through DFC’s 2X

Women’s Initiative.

• Promote economic empowerment and financial resilience for

women and other underrepresented groups.

• Mobilize investment in projects that are owned or led by

women or which provide a product or service that delivers a

strong benefit to women or other underrepresented groups.

Also linked to:

WHAT is DFC's annual impact target for these investments? 

Increase the number of women and women-owned/led businesses accessing 

finance >1.2% (SDG 5.A)

Increase the number of low-income individuals accessing finance by >4.1% (SDG 10.2)
Investing in Development DFC | 12

How does DFC measure its 

development impact?

HOW MUCH change is happening? 

Targeted outcomes

• Reduced GHG emissions

• Improved quality of life, economic, and social health

• Reduced vulnerability to climate shocks and stresses

Key metrics

• GwH of Renewable Energy Produced

• Greenhouse Gas Emissions (Avoided; Sequestered; Total)

• Volume of Water Consumed

• Volume of Energy Consumed

• Volume of Waste (Produced; Disposed Total; Disposed:

Recycled/Reused)

• Land Directly Controlled: Sustainably Managed

• Ocean Protected / Sustainably Managed

• Building Area of Energy Efficiency Improvements

Also linked to:

Climate | Impact Thesis

Why does DFC invest in Climate 

Mitigation, Adaptation, and Resilience?

Climate is a DFC cross-cutting priority

WHAT is the problem?

• Developing countries are generally the most impacted

by climate change and the least able to manage the

consequences, often because of insufficient infrastructure

and agricultural resources.

• The World Health Organization estimates that climate change

will contribute to 250,000 additional deaths per year from

malnutrition, malaria, diarrhea and heat stress.1 Continuing

on the current climate trajectory could force 100 million

people into extreme poverty by 2030.2 That’s equivalent to

the population of Egypt.

• Severe weather is expected to displace millions of people.

As many as one-third of the 68.5 million people who were

forcibly displaced in 2017 were forced to move due to

weather events such as fires, floods, and drought.3 The

World Bank estimates that Latin America, Sub-Saharan Africa,

and Southeast Asia will generate 143 million more climate

migrants by 2050.4

WHO is mostly affected?

• The devastating impacts of climate change are felt most

severely in low-income countries that can least afford

to adapt.

WHAT is DFC doing to address this problem?

Providing equity investment, project finance, political risk 

insurance, and technical assistance with the objective to: 

1. Mitigate emissions of GHG contributing to climate change

2. Support adaptation and build resilience in climate vulnerable

communities

WHAT is DFC’s impact target for these investments? 

Addressing the climate crisis requires scaling investment in countries bearing the brunt of 

climate impacts. To address this financing gap, DFC is scaling its climate finance team, 

supporting a multibillion annual portfolio across sectors, and supporting DFC clients in 

achieving their respective net zero targets.
Investing in Development DFC | 13

Appendix 1: Metrics

Sector Metric IRIS HIPSO

Climate Building Area of Energy Efficiency Improvements (m2

) PI1586

Climate Greenhouse Gas Emissions Avoided (metric tons) PI2764

Climate Greenhouse Gas Emissions Sequestered (metric tons) PI9878 TA-12

Climate Greenhouse Gas Emissions, Total (metric tons) OI1479 TA-11

Climate Land Directly Controlled: Sustainably Managed (hectares) OI6912 TA-17

Climate Ocean Protected / Sustainably Managed (km2

)

Climate Renewable Energy Produced (GwH) PI5842 + OI2496 EN-02

Climate Volume of Energy Consumed (kWh) OI2496 + OI1495

Climate Volume of Waste Disposed: Recycled/Reused (metric tons3

) OI2535

Climate Volume of Waste Disposed: Total (metric tons3

) OI6192

Climate Volume of Waste Produced (metric tons3

) OI6709

Climate Volume of Water Consumed (cubic meters) OI1697 TA-13

Energy Energy Storage Capacity (MWh) PI0915

Energy Frequency of Power Outages (SAIFI) EN-07

Energy Length of Transmission Lines Built or Improved (Km) PI4515

Energy Non-Renewable Energy Generated (GwH) PI2210 + OI1495

Energy Number of clients: New access to energy PI2822

Energy Number of Connections to Off-Grid Power Systems: 

Businesses

PI8053; PD1310

Energy Number of Connections to Off-Grid Power Systems: 

Households

PI8053; PD1310

Energy Number of Connections to On-Grid Energy: Businesses PI8053; PD1310

Energy Number of Connections to On-Grid Energy: Households PI8053; PD1310

Energy Number of Household Power Systems Installed PI8053; PD1310

Energy Number of Mini-grid Connections PI8053; PD1310

Energy Number of On-grid Connections PI8053; PD1310 EN-03

Energy Number of Products Sold: Off-grid or Energy-efficient 

Lighting Devices

PI8053; PD1310

Energy Renewable Energy Generated (GwH) PI5842 + OI2496 EN-02

Small Business 

Support and Financial 

Services

Average Loan Size (USD) PI5160

Small Business 

Support and Financial 

Services

Number of Clients Served: Enterprises, Women PI5576

Small Business 

Support and Financial 

Services

Number of Clients Served: Individuals, Women PI8330 FI-09 

Small Business 

Support and Financial 

Services

Number of Clients Served: Low-income PI7098
Investing in Development DFC | 14

Appendix 1: Metrics

Small Business 

Support and Financial 

Services

Number of Clients Served: Microenterprise PI7098

Small Business 

Support and Financial 

Services

Number of Clients Served: Rural

Small Business 

Support and Financial 

Services

Number of Clients Served: SMEs PI4940

Small Business 

Support and Financial 

Services

Number of Loans Outstanding: Total PI1478 FI-01

Small Business 

Support and Financial 

Services

Value of Loans Outstanding (USD) PI7569 FI-02

Food & Agriculture Average agricultural yield (ton/hectare) PI5935 AG-01

Food & Agriculture Land Directly Controlled: Sustainably Managed (hectares) OI6912

Food & Agriculture Local Suppliers: Smallholder Farmer (suppliers) PI9991

Food & Agriculture Number of Loans Outstanding PI1478 FI-01

Food & Agriculture Project revenue: Local Sales (USD) IN-03 and IN-02

Food & Agriculture Project revenue: Other exports (USD) IN-02

Food & Agriculture Project revenue: US exports (USD) IN-02

Food & Agriculture Value of Loans Outstanding (USD) PI7569 FI-02

Inclusion Number of Board Members: Total OI1075

Inclusion Number of Board Members: Women OI8118 TA-02

Inclusion Number of Clients Served: Enterprises, Women PI5576

Inclusion Number of Clients Served: Individuals, Women PI8330 FI-09

Inclusion Number of Investment Committee Members: Total OI7829

Inclusion Number of Investment Committee Members: Women OI8709 TA-03

Inclusion Number of Local Employees, Full-time: Total OI3160

Inclusion Number of Local Employees: Total, Women TA-05

Inclusion Number of Senior Management: Total OI8251

Inclusion Number of Senior Management: Women OI1571 TA-01

Inclusion Percentage of Company Ownership: Men OI4221

Inclusion Percentage of Company Ownership: Women OI2840

Inclusion Target Population: Product Design OI7914

Health Number of Loans Outstanding PI1478 FI-01

Health Number of Patients Served: Disadvantaged Groups PI6845 HE-01

Health Number of Patients Served: Low-income PI6845

Health Number of Patients Served: Total PI6845 HE-01

Health Number of Patients Served: Women PI6845 HE-02 
Investing in Development DFC | 15

Appendix 1: Metrics

Health Patient Beds Available: Total (beds)

Infrastructure + Critical 

Minerals

Length of Road: Constructed (Km) PI5587

Infrastructure + Critical 

Minerals

Length of Road: Improved (Km) PI5587

Infrastructure + Critical 

Minerals

Length of Transmission Lines Built or Improved (Km) PI4515

Infrastructure + Critical 

Minerals

Number of Cell Towers Constructed: Total IT-15

Infrastructure + Critical 

Minerals

Number of Clients: New Access PI2822

Infrastructure + Critical 

Minerals

Number of Data Center Racks IT-11

Infrastructure + Critical 

Minerals

Number of Fixed Data Subscriptions Total IT-03 and IT-04

Infrastructure + Critical 

Minerals

Number of Fixed Voice Subscriptions Total

Infrastructure + Critical 

Minerals

Number of Households; New or Improved Sanitation 

Facilities

Infrastructure + Critical 

Minerals

Number of Local Employees, Full-time: Total OI3160

Infrastructure + Critical 

Minerals

Number of Mobile Subscriptions Total IT-01 and IT-02

Infrastructure + Critical 

Minerals

Number of Residential Connections to Water and 

Wastewater Services

WA-02

Infrastructure + Critical 

Minerals

Number of Subscribers: Affordable Data Plan IT-20

Infrastructure + Critical 

Minerals

Number of Vehicles Using Roads Daily OI0659 TR-02, TR-03, 

and TR-04

Infrastructure + Critical 

Minerals

Project Revenue: Local Sales (USD) IN-03 and IN-02

Infrastructure + Critical 

Minerals

Project Revenue: Other Exports (USD) IN-02

Infrastructure + Critical 

Minerals

Project Revenue: US Exports (USD) IN-02

Infrastructure + Critical 

Minerals

Value of Payments to Government (USD) FP5261 TA-19

Infrastructure + Critical 

Minerals

Value of Procurement: Local Country (USD) PI1849 IN-01

Infrastructure + Critical 

Minerals

Volume of Waste Disposed: Recycled/Reused (metric tons3) OI2535

Infrastructure + Critical 

Minerals

Volume of Waste Disposed: Total Disposed (metric tons3) OI6192

Infrastructure + Critical 

Minerals

Volume of Waste Produced (metric tons3) OI6709

Infrastructure + Critical 

Minerals

Volume of Wastewater Treated (metric tons3) OI9412 WA-01

Infrastructure + Critical 

Minerals

Volume of Water Produced (metric tons3) PI8043
Investing in Development DFC | 16

Appendix 2: SDGs
Investing in Development DFC | 17

Appendix 3: Sources

1 World Health Organization, “Climate Change and Health,” World Health Organization, October 30, 2021, https://www.who. int/news-room/

fact-sheets/detail/climate-change-and-health.

2 Stephane Hallegatte, Bramka Arga Jafino, Julie Rozenberg, and Brian Walsh, “Revised Estimates of the Impact of Climate Change on Extreme 

Poverty by 2030,” (Washington, DC: World Bank Group, 2020), https://documents1.worldbank.org/ curated/en/706751601388457990/pdf/

Revised-Estimates-of-the-Impact-of-Climate-Change-on-Extreme-Poverty-by-2030. pdf.

3 John Podesta, The climate crisis, migration, and refugees (Brookings Institution: Washington, DC, 2019) https://www. brookings.edu/

research/the-climate-crisis-migration-and-refugees/.

4 Kanta Kumari Rigaud et al., Groundswell : Preparing for Internal Climate Migration (Washington, DC: World Bank, 2018), https://

openknowledge.worldbank.org/handle/10986/29461.

5

 World Bank Open Data, "Labor force participation rate, female (% of female population ages 15+) (modeled ILO estimate)," 2022, https://

data.worldbank.org/indicator/SL.TLF.CACT.FE.ZS.

6

 IRIS+ Gender Lens Strategic Goals (GIIN) – Increasing Gender Equality through Financial Inclusion

Marieme Esther Dassanou et al., Women-owned SMEs : a business opportunity for financial institutions - a market and credit gap 

assessment and IFC's portfolio gender baseline (Washington, DC: International Finance Corporation, 2014), http://documents.worldbank.

org/curated/en/574801510949557053/Women-owned-SMEs-a-business-opportunity-for-financial-institutions-a-market-and-credit-gapassessment-and-IFCs-portfolio-gender-baseline.

7 Dalberg, ”Towards Market Transparency in Smallholder Finances,” Dalberg, September 2022, https://dalberg.com/our-ideas/towardsmarket-transparency-in-smallholder-finance/.

8 World Bank, The Global Findex Database (Washington, DC: World Bank, 2022), https://www.worldbank.org/en/publication/globalfindex/

Report.

9

 J Hine et al., “Does the extension of the rural road network have a positive impact on poverty reduction and resilience for the rural areas 

served? If so how, and if not why not? A systematic review,” EPPI-Centre, Social Science Research Unit, UCL Institute of Education, University 

College London, July 2016, https://www.gov.uk/research-for-development-outputs/does-the-extension-of-the-rural-road-network-have-apositive-impact-on-poverty-reduction-and-resilence-for-the-rural-areas-served.

10 Sustainable Mobility for All, Global Mobility Report 2017: Tracking Sector Performance (Washington, DC: Sustainable Mobility for All, 2017), 

https://www.sum4all.org/publications/global-mobility-report-2017.

11 Douglas Broom, “Coronavirus has Exposed the Digital Divide like Never Before,” World Economic Forum, April 22, 2020, https://www.

weforum.org/agenda/2020/04/coronavirus-covid-19-pandemic-digital-divide-internet-data-broadband-mobbile/.

12 Kirsten Hund et al., Minerals for Climate Action (Washington, DC: World Bank Group, 2019), https://pubdocs.worldbank.org/

en/961711588875536384/Minerals-for-Climate-Action-The-Mineral-Intensity-of-the-Clean-Energy-Transition.pdf.

13 World Bank, “Mineral-Rich Developing Countries Can Drive a Net-Zero Future,” World Bank, June 6, 2022, https://www.worldbank.org/en/

news/feature/2022/06/06/mineral-rich-developing-countries-can-drive-a-net-zero-future.

14 International Energy Agency, SDG7: Data and Projections (Paris: IEA, 2019), https://www.iea.org/reports/sdg7-data-and-projections/accessto-electricity.

15 International Energy Agency, Global Energy Review 2021 (Paris: IEA, 2021), https://www.iea.org/reports/global-energy-review-2021/

renewables.

16 International Energy Agency, Electric Vehicles (Paris: IEA, 2022), https://www.iea.org/reports/electric-vehicles.
Investing in Development DFC | 18

17 UNCTAD, “Over half of the people in least developed countries lack access to electricity,” UNCTAD, 2021, https://unctad.org/ topic/leastdeveloped-countries/chart-july-2021.

18 The World Bank, Striving for Clean Air: Pollution and Public Health in South Asia, (Washington, DC, World Bank, 2022), https://www.

worldbank.org/en/region/sar/publication/striving-for-clean-air.

19 The World Bank and World Health Organization, Tracking universal health coverage: 2017 global monitoring report (Washington, DC: World 

Bank and WHO, 2017), https://apps.who.int/iris/handle/10665/259817.

20 The World Bank and World Health Organization, Tracking universal health coverage: 2017 global monitoring report (Washington, DC: World 

Bank and WHO, 2017), https://apps.who.int/iris/handle/10665/259817.

21 Prajal Pradhan et al., “Closing Yield Gaps: How Sustainable Can We Be?” PLoS One 10, no. 6 (2015): https://www.ncbi.nlm. nih.gov/pmc/

articles/PMC4470636/.

22 Shyam Sundaram, “Introducing the Primer on Catalyzing Agricultural Finance,” Agrilinks, September 25, 2019, https://www. agrilinks.org/

post/primer-catalyzing-agricultural-finance.

23 IRIS+ Smallholder Agriculture Strategic Goals (GIIN) – Increasing Access To and Use of Quality Agriculture Inputs; 

Tom Carroll et al., Catalyzing Smallholder Agricultural Finance (Washington, DC: Dalberg Global Development Advisors, 2012), https://www.

findevgateway.org/sites/default/files/publications/files/mfg-en-paper-catalyzing-smallholder-agricultural-finance-sep-2012.pdf.

24 IRIS+ Smallholder Agriculture Strategic Goals (GIIN) – Increasing Farm Profitability 

Pierre-Marie Bosc et al., Investing in Smallholder Agriculture for Food Security. Rome: High Level Panel of Experts on Food Security and 

Nutrition of the Committee on World Food Security (Rome: FAO, 2013), http://www.fao.org/fileadmin/user_ upload/hlpe/hlpe_documents/

HLPE_Reports/HLPE-Report-6_Investing_in_smallholder_agriculture.pdf. 

Shaun Ferris et al., "Linking Smallholder Farmers to Markets and the Implications for Extension and Advisory Services." (paper presented 

at Modernizing Extension and Advisory Services (MEAS) Conference, Washington, DC, May 2014), https://www. researchgate.net/

publication/285771192_Linking_smallholder_farmers_to_markets_and_the_implications_for_extension_and_ advisory_services.

25 IRIS+ Financial Inclusion Strategic Goals (GIIN) – Improving Access to and Use of Responsible Financial Services for Historically Underserved 

Populations Asli Demirgüç-Kunt, et al., The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of 

COVID-19 (Washington, DC: World Bank, 2022), doi:10.1596/978-1-4648-1897-4.

26 The World Bank, “SME Finance,” 2021, https://www.worldbank.org/en/topic/smefinance.