MICROCAPITAL BRIEF: Scott Nathan takes the helm of DFC, leading funder of microfinance in low- and middle-income countries

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Scott Nathan was recently confirmed by the US Senate as CEO of the US International Development Finance Corporation (DFC), which partners with “the developing world’s private sector to improve livelihoods and address global challenges such as climate change, pandemic threats and persistent threats. economic disparities. Mr. Nathan worked in private sector investment for 20 years. He has also worked at the US Department of State, the US Office of Management and Budget, and as a White House staffer.

DFC was launched in 2020 to “help businesses expand in emerging markets, foster growth, and improve lives in developing countries while strengthening U.S. foreign policy and national security interests.” The organization has an investment cap of $60 billion to deploy in forms such as equity investments, insurance, technical assistance and research. DFC focuses its efforts on low-income and lower-middle-income countries in areas such as “energy, healthcare, critical infrastructure and technology.” When it was founded, DFC took over the work of the Overseas Private Investment Corporation as well as the Development Credit Authority of the United States Agency for International Development. In 2020, DFC’s net cost of operations was $232 million.

By Sheen Gupta, Research Associate

Sources and additional resources

DFC press release
https://www.dfc.gov/media/press-releases/statement-acting-ceo-dev-jagadesan-confirmation-dfc-ceo-scott-nathan

Previous article by MicroCapital on DFC
https://www.microcapital.org/microcapital-brief-atb-secures-23m-loan-guarantee-from-dfc-for-local-currency-lending-to-msmes-in-tunisia/

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