The U.S. Department of State announced on Mar. 26 that it plans to work with Congress to allocate $250 million in foreign assistance funding for the new Pax Silica Fund initiative, which aims to support critical minerals extraction, processing, infrastructure, and manufacturing assets that contribute to secure and reliable semiconductor supply chains.
The initiative is intended to strengthen strategic partnerships and coordinate action across all levels of the supply chain. The Department said this approach demonstrates the United States' commitment to advancing secure semiconductor production through tangible mechanisms.
According to the announcement, "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." The fund is also expected to continue supporting Secretary Rubio’s “Trade Not Aid” objective by furthering an America First assistance agenda.
Pax Silica will work with leading private sector partners and sovereign signatories to invest in critical emerging technologies. By using foreign assistance as a means of attracting private and allied co-investment, the fund aims not only to enhance security but also create new commercial opportunities for U.S. companies and other trusted firms worldwide.
For additional information or media inquiries about Pax Silica or its objectives, questions can be submitted through the Press Relations website or updates followed at @UnderSecE on X.
