The proposed semiconductor supply chain investment fund would use foreign assistance to support critical minerals, infrastructure, and manufacturing.
The U.S. Department of State recently announced plans to work with Congress to allocate $250 million in foreign assistance funding for a new Pax Silica Fund directed at supporting critical minerals extraction, processing, infrastructure, and manufacturing connected with semiconductor supply chains. The department explained that the initiative is intended to strengthen supply chain reliability by coordinating investments across multiple stages of production and encouraging participation from public and private partners.
“Pax Silica brings strategic partnerships and coordinated action across every layer of the supply chain,“ State Department Spokeperson Tommy Piggot said. He continued that the action “demonstrates the United States’ commitment to supporting that approach with concrete mechanisms to drive meaningful progress. We expect that this fund will help to catalyze trusted capital from large sovereign wealth and private sources, which on average control more than $1 trillion in assets to build greater investments in supply chain security.“
As the Lord Leads, Pray with Us…
- For Secretary Rubio as he oversees the investment in the critical mineral supply chain to support semiconductor production.
- For U.S. officials as the steward the Pax Silica Fund and coordinate with Congress on funding decisions.
- For members of the House and Senate as they consider funding for semiconductor supply chains.
Sources: State Department
