DFC CEO Scott Nathan delivers remarks alongside Secretary Blinken and Administrator Power at the Democracy Delivers event on the sidelines of the UN General Assembly on September 21, 2022
NEW YORK – U.S. International Development Finance Corporation (DFC) Chief Executive Officer Scott Nathan traveled to New York, NY to participate in the 77th Session of the United Nations General Assembly High Level Week. He held discussions with leaders on the importance of private sector-led development in solving the world’s greatest challenges.
CEO Nathan’s meetings included a conversation with the Honorable Lazarus Chakwera, President of Malawi, to discuss DFC’s investment in the country and desire to work with Malawi’s private sector on developmental projects. Alongside President Chakwera, CEO Nathan signed a commitment letter for a $25 million loan to support Golomoti Solar in southeast Malawi.
He also met with President of Zambia Hakainde Hichilema to discuss where DFC investment could contribute to private-sector led economic growth in Zambia and build on the $183 million DFC has already invested in projects across the country.
CEO Nathan participated in a conversation with President of Paraguay Mario Abdo Benítez, hosted by Citi, Millicom, and the Meridian Center, where he discussed how DFC works with the private sector to catalyze investments that advance the goals of the Summit of the Americas. CEO Nathan delivered remarks at the Democracy Delivers event, hosted by USAID Administrator Samantha Power, where Secretary of State Antony Blinken also delivered remarks. CEO Nathan underscored how DFC works with partner countries to uphold democratic values through high-standards private sector investments that spur economic development.
He also joined a UN Global Compact Poland meeting chaired by President of Poland Andrzej Duda and attended by Ukraine Prime Minister Denys Shmyhal. At the session, governments leaders and members of the Polish and Ukrainian business communities discussed Ukraine’s rebuilding and economic recovery efforts in light of the destruction wrought by Russia’s unprovoked war.
CEO Nathan attended a roundtable on Global Food Security and Nutrition hosted by Kyle House Group, where he joined Millennium Challenge Corporation CEO Alice Albright, United States Permanent Representative to the UN Agencies in Rome Ambassador Cindy McCain, and senior leaders in the private and philanthropic sectors to discuss the Biden-Harris Administration's work in food security and highlight DFC’s impact in this area. He underscored DFC’s commitment to investing in agriculture and food value chain projects in developing countries. At the UN General Assembly in 2021, DFC announced a goal of investing up to $1 billion in food and agriculture projects over the next five years. DFC is already significantly ahead of schedule in making these key investments: over the past year, DFC has already committed over $300 million in food security projects around the world, with more transactions expected to close by the end of Fiscal Year 2022.
CEO Nathan also joined the inaugural meeting of the Global Energy Alliance for People and Planet’s (GEAPP) Global Leadership Council to promote public-private partnership investing in renewable energy projects and other climate solutions in developing and emerging economies. Following the meeting, he met with Egypt’s Minister of International Cooperation Rania Al-Mashat to discuss future collaboration on projects ranging from healthcare to clean energy in the run up to COP27 in Sharm el-Sheikh.
Additionally, CEO Nathan met with Pakistan’s Foreign Minister Bilawal Bhutto Zardari. He expressed solidarity with Pakistan in the face of the devastating floods and underscored the long-standing relationship between DFC and Pakistan. DFC recently committed three new transactions in Pakistan: two loan portfolio guarantees for Khushhali Bank that collectively commit $25 million, and a $4.2 million loan portfolio guaranty to mobilize capital from Almavest Ltd. to Trella, a fast-growing digital trucking marketplace.
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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, critical infrastructure, food security, 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.