New U.S. Development Finance Corporation Aims To Begin Operations In October

Devex: 2 months until launch, how is the new U.S. DFI shaping up?
“With two months before the new U.S. Development Finance Corporation is set to open its doors, the agency’s architects continue to resolve political issues and iron out operational details. In June, the board of directors of the U.S. DFC approved its bylaws and its risk and audit committees, a move the Overseas Private Investment Corporation’s Press Secretary Laura Allen called ‘a critical step toward laying the legal foundation for the agency’ in an email to Devex. OPIC has been working on a new tool that DFC will use to measure development impact called the ‘Impact Quotient,’ which should be released in the coming weeks, according to Allen. The agency is also working to finalize a coordination report outlining how DFC and the U.S. Agency for International Development will work together, which has to be submitted to Congress as one of the final steps before DFC can open its doors…” (Saldinger, 7/30).

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