Big changes are afoot for the 3-year-young U.S. development finance institution that has been expanding rapidly.
Last week Scott Nathan, CEO of the U.S. International Development Finance Corporation, or DFC, revealed to staff plans for a major reorganization of the agency’s staff structure and operations, Devex has learned. It could significantly change the jobs of staff who do DFC’s core work. Several employees tell Devex they are surprised, upset, and confused.
• DFC plans to reorganize its teams’ structure and focus on five key sectors: infrastructure and minerals, energy, health and agriculture, small business support, and funds, according to a strategy document Devex obtained. Currently, DFC staff work in units or departments based on investment expertise — the type of financial instrument they manage — or transaction size, which can range from $1 million to $1 billion.
About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
