DFC Developments

ADAPTING IN TIMES OF COVID: MAY 2020

Dear Friends:

I hope this note finds you and your loved ones safe and healthy in these truly extraordinary times. I’ve been distressed to watch as the financial fallout from the coronavirus threatens the promise of the developing world. It is times like these when DFC’s role takes on even greater importance.

We are engaged with our existing partners to help mitigate COVID’s impact on their businesses and employees. We want their projects to succeed so they can have the development impact envisioned. We are also working with the U.S. Government and with our counterparts abroad to generate and invest in impactful projects. Our tools will also be used to inject much-needed liquidity in distressed markets to support local businesses and individuals.

DFC will play a critical role fostering health resiliency as the economic recovery takes hold. Our investments will increase access to healthcare, promote clean water, sanitation, and food security. Our focus will also be on supporting facilities that can produce and distribute necessary medical supplies. Ready access to diagnostics, therapeutics, and vaccines is critical. DFC recently issued a call for proposals for projects that promote health and prosperity in the developing world. I ask you to help us get the word out to potential business partners. This was an area where we were looking to increase our impact before COVID and is a top priority moving forward.

The DFC team hasn’t missed a step in moving the agency and our mission forward in a virtual environment. I am proud of our work and the work of so many around the world to make us all healthier and more resilient.

Best health,

Adam Boehler

Chief Executive Officer

U.S. International Development Finance Corporation

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DFC CALL FOR PROPOSALS: INVESTMENTS IN GLOBAL HEALTHCARE

Private sector entities seeking DFC support for health-related investments in developing countries are invited to respond to DFC's Health and Prosperity Initiative Call for Proposals.

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LEADING DFIS COMMIT TO ADDRESS GLOBAL COVID CRISIS

The DFI Alliance issued a joint statement to announce they will work together to bring liquidity to the market, support companies impacted by the virus, and promote new investment in global health.

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FIRST DISBURSEMENT OF $5 MILLION LOAN MADE TO TWIGA FOODS

DFC's loan to Twiga Foods is bolstering food security in Kenya and advancing DFC's 2X Women's Initiative by empowering female smallholder famers and produce vendors.

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NEAR LY $900 MILLION IN GLOBAL DEVELOPMENT PROJECTS APPROVED

The first projects approved by DFC's Board of Directors since the agency's launch will advance development and address critical needs in Africa, Indo-Pacific, and Latin America.

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ALICE MILLER NAMED FIRST DFC CHIEF RISK OFFICER

Alice Miller was approved by DFC's Board of Directors to serve as the agency’s first Chief Risk Officer (CRO). As CRO, Miller will lead efforts to identify and manage risks to DFC.

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DFC PROVIDES $15 MILLION LOAN TO EXPAND EDUCATION IN INDIA

The disbursement of a $15 million loan to Varthana is expanding access to quality education in India by providing critical financing to schools that serve low-income students.

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DFC'S JIWANI ON RESILIENT HEALTH SYSTEMS

As DFC's Managing Director for Health Initiatives, Nafisa Jiwani oversees work on building more resilient health systems and co-chairs the agency’s response to the COVID-19 pandemic. Jiwani joined DFC from the U.S Department for Health and Human Services (HHS), where she worked on policy and strategy at the Centers for Disease Control and Prevention and later served as a Deputy Senior Advisor for the Secretary of HHS on Value-Based Care.

What led you to join DFC?

I have spent significant time in East Africa and India on programs focused on capacity development and healthcare delivery. Coming to DFC was an opportunity to align my passion for development and my experience in public health. My goal at DFC is to help provide strategic guidance that strengthens health systems around the world through sustainable, private investment financing.

What are some of the unique challenges developing countries face in responding to COVID-19?

Poor access to healthcare was already a challenge and is intensified by the pandemic. Further, many of the ways we have responded to the pandemic here in the U.S. may not translate well in developing countries. In countries with densely populated urban centers, it is not always possible to enforce physical distancing. The public health challenge is to determine which techniques will help bend the curve. Digital health initiatives may be even more critical to support contact tracing in certain geographies.

How can DFC help address these challenges?

We can leverage our financing capabilities and our ability to be agile to creatively find opportunities for growth and long-term sustainability around health system resiliency. This includes supporting manufacturing and supply chains around the production and distribution of personal protective equipment, ventilators, therapeutics, diagnostics, and vaccines.

Additionally, investments in nutrition and clean water, sanitation, and hygiene (WASH) are fundamental to health. While we continue efforts around the pandemic, it is important to note that much of the U.S. Government’s work in global health has traditionally focused on aid and grants to combat infectious disease. DFC recognized the gap of resources around non-communicable diseases and made it a priority to address a spectrum of health needs.