DFC Developments

MAKING AN IMPACT: FEBRUARY 2020

Dear Colleagues and Friends:

The past month has kept us busy getting the word out about DFC’s new authorities and tools, identifying deeply developmental projects, and advancing investments through our pipeline to continue delivering meaningful impact. One of the projects we are most excited about is SEWA Grih Rin Limited (Sitara), a company in Dwarka, India providing microloans to help low-income women buy homes and make critical household improvements.

I was honored to meet with some of Sitara’s borrowers during my travel with President Trump to India. I saw firsthand how these women are putting their loans to work through construction and improvements that create safe, clean, and secure homes for their families. Sitara’s tremendous work has reached over 9,000 borrowers to date, and DFC’s $30 million commitment will help this impactful company improve living conditions for thousands more.

DFC is committed to working with highly impactful companies like Sitara to help lift up societies and foster prosperity where it is needed most. We hope you enjoy learning more about this and other investments we are making in development.

All the best,

Adam

Adam Boehler

Chief Executive Officer

U.S. International Development Finance Corporation

P.S. Be sure to follow me at @AdamUSDFC and the agency at @DFCgov on Twitter to keep up with us in real time.

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SUPPORTING MATERNAL HEALTH IN AFRICA

DFC, Merck for Mothers, Credit Suisse, and USAID announced that they will pursue supporting LifeBank's efforts to expand access to lifesaving blood and blood products for mothers in Africa.

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DFC CEO NEW CHAIRMAN OF PROSPER AFRICA

President Trump named DFC CEO Adam Boehler to serve as Executive Chairman of Prosper Africa, a U.S. Government-led initiative which aims to increase two-way trade between the U.S. and Africa.

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ANDREW M. HERSCOWITZ NAMED FIRST DFC CDO

DFC welcomed its first Chief Development Officer (CDO). Established by the BUILD Act, DFC’s CDO will play a critical role in ensuring that the agency delivers measurable development impact.

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W-GDP CELEBRATES ONE YEAR ANNIVERSARY

DFC and partners across the U.S. Government celebrated W-GDP's success in bolstering economic empowerment for 12 million women worldwide, including through DFC's 2X Women's Initiative.

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BLUE DOT NETWORK TAKES FIRST STEPS

Blue Dot Network, a multi-stakeholder initiative that promotes high-quality, trusted standards for global infrastructure development, held its first Steering Committee Meeting.

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JUAN GUAIDÓ VISITS DFC OFFICES IN WASHINGTON

DFC CEO Adam Boehler met with the Interim President of Venezuela, Juan Guaid ó, i n Washington. In their meeting, Boehler emphasized America's unwavering support for Venezuela.

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DFC STAFF HIGHLIGHT

DFC Vice President Tracey Webb

on changing the face of development finance

As Vice President of Structured Finance and Insurance at DFC, Tracey Webb leads a team of 50 working on some of the largest projects the agency supports by providing financing and political risk insurance to build power plants, hospitals, airports, and other critical infrastructure. Tracey is one of our longest serving employees, having joined the Overseas Private Investment Corporation as a loan officer in 1994. Her commitment to both development and public service is truly inspiring to the DFC staff and makes her a pivotal leader in our growing agency.

How has development finance evolved in recent decades?

Today, there is more foreign direct investment than ever before, more sources of capital to invest, and a greater public awareness about the needs of the developing world. While these are positive advancements, they also underscore the need for dollars to be invested in ways that best benefit the people in underserved communities most in need of support.

How will your office work to ensure DFC reaches those communities?

We consider the development impact of every project from day one—it is the first conversation we have when considering a project. We also work to ensure the project aligns with the development goals of the agency and the larger U.S. Government. The agency has significantly improved in its ability to evaluate the development impact and outcomes of the projects we support.

What are the biggest changes for your department from the launch of DFC?

With more resources to invest, more flexibility, and new tools that will enable us to lend in foreign currency, we have greatly increased the range of projects we can pursue and have a developmental impact.