WASHINGTON — When the U.S. International Development Finance Corporation was approved by Congress, a key component of the legislation was the creation of a chief development officer — a new position charged with ensuring the agency upholds its development mandate and effectively coordinates with other agencies. In February, DFC named its first CDO: Andy Herscowitz.
Herscowitz comes to the role after leading Power Africa, the U.S. government’s program to double access to electricity in Africa. He has also worked as a U.S. Agency for International Development mission director and as the attorney for USAID’s Development Credit Authority, which is now part of DFC. In an interview, Herscowitz told Devex he hopes to harness his experience with the interagency process and knowledge of how USAID works in his new position.
In his first month, Herscowitz spent a lot of time analyzing the text of the Better Utilization of Investments Leading to Development Act, or the BUILD Act, which created his job, figuring out how to prioritize his office’s functions.