WASHINGTON, D.C. – The U.S. International Development Finance Corporation (DFC) is accelerating its engagement in the Caribbean, with two major announcements that serve as a broader call to partner with private sector companies on projects that can spur economic growth.
DFC Chief Executive Officer (CEO) Scott Nathan this week completed a visit to the region with stops in Jamaica and the Dominican Republic. At the Presidential Palace in Santo Domingo, he was joined by Dominican Republic President Luis Abinader and USAID Deputy Administrator Isobel Coleman as he announced a $200 million loan to Banco Popular Dominicano to support the financing of loans to small businesses, as well as DFC’s plan to open a new office based in the Dominican Republic capital focused on increasing regional investment.
DFC sees strong opportunities for new private investments in both nations – and in partner countries across the Caribbean region.
“This is an exciting time for DFC in the Caribbean. This trip highlighted our strong belief at DFC that our work with governments, businesses, and investors in this region has tremendous potential. We are committed to building on this foundation,” CEO Nathan said. “The bottom line is this: We are here, we want to be here, and we want to do more.”
DFC is focused on particular opportunities in critical sectors for the region such as renewable energy, infrastructure, health, information and communication technology, and climate solutions. These sectors are among DFC’s top priorities and where it has deep experience financing projects in markets across the world.
DFC’s on-the-ground presence will advance the larger U.S. Government effort to support private sector development across the region.
As the U.S. Government’s development finance institution, DFC has a mandate to make highly developmental investments around the world. Its global portfolio spans 112 countries and recently surpassed $40 billion.
In the Caribbean, DFC plans to strengthen its engagement with local partners using all of the tools at its disposal, including loans, technical assistance, and equity investments – all to unleash the power of private capital.
The U.S. International Development Finance Corporation (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, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.