GLOBAL – U.S. Senate has confirmed the appointment of Scott Nathan as the Chief Executive Officer of United States International Development Finance Corporation (DFC) is a development finance institution and agency of the United States federal government.
Scott Nathan most recently served as a senior advisor to the White House Office of Presidential Personnel after having worked on the Biden-Harris Presidential Transition’s Appointments team.
During the Obama-Biden Administration, Nathan served as the special representative for Commercial and Business Affairs at the U.S. Department of State, where he led a team focused on protecting U.S. economic interests abroad and advocating on behalf of American exports.
Later, he served as the associate director for General Government Programs at the Office of Management and Budget. He also worked as a partner, management committee member, and the chief risk officer of a private investment partnership based in Boston. Nathan holds a B.A., J.D., and MBA degrees from Harvard.
As CEO of the DFC, Nathan will be tasked with ensuring that the international development finance priorities of the Biden Administration are reflected in the transactions that DFC supports. In his testimony before the Senate Foreign Relations Committee, he summed up his views on the DFC as follows:
DFC is integral components of the Biden Administration’s strategy for both supply chain resiliency and the International Climate Finance Plan.
DFC mobilizes capital for private sector-led growth in the developing world and provides a clear alternative to state-directed investments by authoritarian governments. DFC’s product offering gives developing countries a positive choice, reflecting our democratic values, for meeting their infrastructure and economic needs.
While investing in private sector companies and projects, DFC can insist on transparency, rule of law, financial sustainability, and high environmental and labor standards. Unlike some of our strategic competitors, we do this with no strings attached.
Nathan replaces Dev Jagadesan, DFC’s deputy general counsel, who has been serving as the acting CEO.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE
