Statement by Acting CEO Dev Jagadesan
U.S. International Development Finance Corporation (DFC) Chief Operating Officer David Marchick announced today that he is stepping down from the agency later this month.
On behalf of DFC, I want to thank David for his tireless dedication to the agency’s mission and staff. This year DFC achieved its largest level of financial commitments in a single year in 25 years, up 60 percent from its five-year average. DFC, through David’s contributions, also approved several vaccine manufacturing transactions which have the capacity to produce 2 billion lifesaving doses of COVID-19 vaccines for the developing world by the end of 2022. He also guided the agency’s new ambitious climate commitments and its investments to diversify the solar supply chain. Finally, David helped to cultivate a culture at the agency built on empowerment and encouragement.
As David moves on, he leaves behind a great set of accomplishments and a team of dedicated career officials who are prepared to carry our important mission forward on behalf of the American people.
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U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.