CEO's Report to the Board of Directors, Adam S. Boehler, CEO
U.S. International Development Finance Corporation
DFC Board Meeting
March 11, 2020
As Prepared for Delivery
Today, we will review our first projects for DFC Board approval. The projects range from access to clean water for women and families, to marine conservation in Kenya, to secure subsea telecommunications across the Pacific.
In addition to new projects, DFC is making significant progress on our development mandate:
I am pleased that the Board approved Andy Herscowitz as DFC’s first Chief Development Officer. The CDO is responsible for focusing the entire agency on driving measurable impact, and today’s deals are excellent examples of that impact.
We are implementing a new, state-of-the-art development scoring system called Impact Quotient, or IQ. IQ will enable DFC to measure and monitor the development impact of every dollar we invest.
Last month, DFC launched the Portfolio for Impact and Innovation, or PI2. Under this initiative, DFC will finance early-stage, high-impact social enterprises with innovative solutions to development challenges.
March is Women’s History Month and a perfect time to highlight our commitment to expanding DFC’s 2X Women’s Initiative, which is partnered with W-GDP.
I saw the impact of 2X and W-GDP firsthand in India with the President, when I met with borrowers of Sitara, an organization that provides affordable financing for women to support the purchase of safe and secure homes—several of which I had the privilege to visit.
Finally, I’m pleased to announce that we recently brought on a new Managing Director of Global Women’s Issues, Charity Wallace. Charity has large shoes to fill following Katie Kaufman, who—through her leadership of 2X—has made a meaningful difference in the lives of so many women and families across the globe. Charity, I look forward to working closely with you to build on our many achievements under 2X to date.
Our work is just beginning.
I’ve met with nearly 20 heads of state over the past five months. There is a consistent message: countries are excited about an alternative to investments from authoritarian countries. Together, we can ensure that the United States has the tools to support sovereignty and prosperity around the world. I am proud to lead this agency and our incredible team of dedicated development finance professionals, and I look forward to working closely with our Board to deliver on DFC’s ambitious mandate. Thank you.