Expanding its portfolio, top-level due diligence, and collaboration — those are the issues that the world’s biggest bilateral development finance institution is focused on as it heads toward a reauthorization next year.
“In the short four years that we've been in existence, we've moved the needle quite a bit … Right now our total exposure globally is nearly $44 billion of a $60 billion cap that [the U.S.] Congress gave us,” said Nisha Biswal, deputy CEO of the U.S. International Development Finance Corporation, or DFC, in a Devex Pro virtual event.
DFC opened its doors in January 2020 — replacing the United States’ former DFI, the Overseas Private Investment Corporation — and needs to be reauthorized next year.