U.S. International Development Finance Corporation (DFC) Visits Ethiopia to Discuss New Program to Advance Financing Solutions
Addis Ababa, November 15, 2019– Adam Boehler, Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), visited Ethiopia November 13-14 to promote U.S. investment in Ethiopia and strengthen relationships with key partners in support of mutual development goals.
The visit marks Boehler’s first official travel to Ethiopia as CEO of the DFC, a new U.S. Government agency that combines and modernizes the Overseas Private Investment Corporation (OPIC) and USAID’s Development Credit Authority (DCA). Equipped with a more than doubled investment cap of $60 billion and new financial tools, DFC has more resources to mobilize private sector capital to address development challenges and advance U.S. foreign policy in priority regions such as Sub-Saharan Africa.
Boehler met with President Sahle -Work Zewdie, Prime Minister Abiy Ahmed, National Bank of Ethiopia Governor Dr. Yinager Desse, Minister of Finance Ahmed Shide, Minister of Water, Irrigation and Energy Dr. Sileshi Bekele and leaders from the private sector, to discuss DFC’s approach to mobilize private capital to invest in projects that create jobs and opportunity in emerging markets.
“We are prepared to make multi-billion-dollar investments in Ethiopia and its people,” CEO Adam Boehler said. “This collaboration is an opportunity for Ethiopia and the United States to strengthen our relationship around the shared goal of economic growth and prosperity.”
The U.S. International Development Finance Corporation (DFC) is financing solutions to the most critical challenges facing the developing world today. Working together with businesses, we mobilize private capital to invest in projects that create jobs and opportunity in emerging markets, including building critical infrastructure, expanding access to telecommunications, and providing small business financing, notably for women entrepreneurs. DFC helps to advance America’s foreign policy by partnering on projects that create economic stability, protect sovereignty, and ensure transparency. DFC investments adhere to high U.S. business standards and respect the environment, human, and worker rights.