DFC's Impact Around the 🌎

LETTER FROM THE CEO:

Dear Friends:

The international response to the pandemic is at the forefront of all that we do. We’re supporting our global partners as they rebuild and recover during COVID-19, investing in health and sanitation projects, and working to protect the health and safety of Americans. This is precisely when institutions like DFC are needed most.

Since our last newsletter we have welcomed three new members to our Development Advisory Council as well as named a council chair. DFC—and the communities it serves around the world—will benefit from their immense experience and leadership. We also announced a change to our energy policy that will enable DFC to support nuclear power projects to deliver affordable, reliable, and emission-free energy where it is needed most.

I had the privilege of traveling to Uzbekistan, Pakistan, and Qatar with U.S. Special Representative for Afghanistan Reconciliation Ambassador Zalmay Khalilzad to explore economic opportunities that could support peace and stability in Afghanistan.

More recently, I was able to travel to Colombia with U.S. National Security Advisor Robert C. O’Brien. We joined Colombian President Iván Duque to announce the launch of the U.S.-Colombia Growth Initiative, with an aim towards creating economic opportunity in rural Colombia. President Duque and I are committed to constructing a comprehensive, multibillion-dollar investment plan to create prosperity, stability, and security for the Colombian people.

This week I am traveling across the Middle East where I was honored to take part in the historic El Al flight from Israel to UAE. Finally, I look forward to my return as the DFC team is hard at work preparing for our September board. This will be one of the most impactful quarters to date.

Adam Boehler (@AdamUSDFC)

Chief Executive Officer

U.S. International Development Finance Corporation

HELPING WOMEN IN INDIA ACCESS AFFORDABLE HOUSING

350 million Indian rupees in DFC financing is helping mortgage lender Aviom, which serves women borrowers in rural areas of India, provide approximately 1,200 home loans to women across the country.

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NEW U.S. COLOMBIA GROWTH INITIATIVE ANNOUNCED

During a trip to Colombia, CEO Boehler unveiled the new initiative to leverage DFC's tools to create economic opportunity, particularly in rural parts of the country.

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WASH: THE FOUNDATION OF AN EFFECTIVE PANDEMIC RESPONSE

In a guest article for Next Billion, Managing Director for Health Initiatives Nafisa Jiwani discusses building water, sanitation, and hygiene (WASH) infrastructure as a means of combatting COVID-19.

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W-GDP AND DFC TARGET ADDITIONAL $6 BILLION OF INVESTMENT

At the virtual 2X Americas: Investing in the Future of Women event, CEO Boehler and Advisor to the President Ivanka Trump announced DFC’s intent to catalyze $6 billion of investment in the world’s women.

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DFC AND IRAQ SIGN MEMORANDUM OF UNDERSTANDING (MOU)

CEO Boehler joined Iraqi Prime Minister Mustafa al-Kadhimi and Minister of Finance Ali Abdul-Amir Allawi to sign an MOU strengthening cooperation in support of private sector development in Iraq.

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EMPOWERING THE WORLD'S WOMEN IN UNCERTAIN TIMES

Managing Director for Global Women’s Issues, Charity Wallace, discussed DFC’s 2X Women’s Initiative and the importance of economically empowering women in the developing world—especially during COVID-19.

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VIBHUTI JAIN ON DFC'S WORK ACROSS AFRICA

Vibhuti Jain joined DFC in January as Regional Director for Africa. In this role, she will work with a new regional team of Africa Investment Advisors to source new projects to advance development in a region that is a key DFC priority.

What led you to work at DFC?

I’ve been interested in international development since I studied development economics as an undergraduate but I ended up starting my career in corporate law. My first foray into development was working as in-house counsel for Millennium Promise, an NGO founded by economist Jeffrey Sachs and focused on ending poverty in some of the poorest regions in the world. I later worked for the USAID Power Africa energy access program. My role at DFC brings together my transactional background as a lawyer and my interest in supporting economic development in Africa.

How is DFC using its expanded tools and resources to advance development in Africa?

Given our focus in lower income economies and our expanded flexibility, we are able to work with a broader set of partners, and I’m focused on cultivating new client relationships. We are also looking at how we can use our new financing products including equity to work with earlier stage enterprises that may not be suited to take on debt. In addition, there is a lot of market interest in our technical assistance program which offers great potential to complement longer-term DFC financing.

What are some of the most effective ways DFC can mobilize investment to have a sustained impact?

A first step to growing our portfolio will be leveraging our new regional team for business development, deal sourcing, and to provide market intelligence in several sectors. We are also taking a very close look at how we can do more in key sectors, like critical infrastructure. There is tremendous need for investment in logistics, transportation, ports of entry, and information technology—basically anything that reduces the cost of moving goods, people and information. Investing in infrastructure can unlock longer term economic growth across the continent.