U.S. International Development Finance Corporation

The United States International Development Finance Corporation (DFC) is a development finance institution and agency of the United States federal government. DFC invests in development projects primarily in lower and middle-income countries.[1] First authorized on October 5, 2018, by the BUILD Act, the independent agency was formed on December 20, 2019 by merging the Overseas Private Investment Corporation (OPIC) with the Development Credit Authority (DCA) of the United States Agency for International Development (USAID), as well as with several other smaller offices and funds.[2][3]

The DFC provides loans, loan guarantees, direct equity investments, and political risk insurance to support private-sector-led development projects, as well as funding for feasibility studies and technical assistance.[4] DFC invests across several sectors including energy, healthcare, critical infrastructure, and technology,

Leadership

On June 18, 2025, Benjamin Black was nominated by President Donald Trump to serve as CEO, and was confirmed on October 7, 2025.[31]

The prior CEO, Scott Nathan, was nominated by the Biden-Harris Administration in September 2021 and was confirmed February 9, 2022.[32][33]

The position of deputy CEO was first filled in 2023 by Nisha Desai Biswal.[34]

Board of Directors

The board of directors is composed of nine members, four appointed by the president of the United States with the consent of the United States Senate and five ex officio members. The five ex officio members are the CEO of the DFC, the U.S. secretary of state, the administrator of the United States Agency for International Development, the U.S. secretary of the treasury, and the U.S. secretary of commerce. Apart from the CEO, these may be represented on the board by their designees. A designee must be from among officers who are appointed by the President, by and with the advice and consent of the Senate; whose duties relate to the programs of the Corporation; and who is designated by and serving at the pleasure of the President.[35]

Of the four appointed members, one each shall be appointed from lists of at least five individuals submitted by the speaker, and minority and majority leader of the House of Representatives and Senate, respectively. In making their lists, they shall consult with their parties' leader on the Committee on Foreign Affairs and Committee on Foreign Relations, respectively. These members may not be an officer or employee of the U.S. government, and shall have relevant experience, which may include experience relating to the private sector, the environment, labor organizations, or international development.[35]

These four serve terms of three years, and may be reappointed to one additional term. They may continue to serve after the expiration of each of their terms of office until a successor has been confirmed.[35]

The secretary of state, or their designee, serves as the chairperson of the board. The administrator of USAID, or their designee, serves as the vice chairperson. A majority of the members of the board constitutes a quorum.[35]

Current board members

The current board members as of February 11, 2026:[36]

agency name	U.S. International Development Finance Corporation
formed	December 20, 2019
preceding1	Overseas Private Investment Corporation (OPIC) and Development Credit Authority (DCA) of the United States Agency for International Development (USAID)
headquarters	Washington, D.C.
chief1 name	Benjamin Black
chief1 position	Chief Executive Officer
chief2 name	Vacant
chief2 position	Deputy Chief Executive Officer
motto	Investing in Development
website	https://www.dfc.gov

U.S. International Development Finance Corporation

Purpose

History

The BUILD Act

Investments and priorities

Response to COVID-19

Leadership

Board of Directors

Current board members

Reception

See also

External links

References

Reauthorization