US Aims to Double Financing in Latin America to $12 Billion

Friday, August 23, 2019

By Luis Alonso Lugo

The United States has created a new agency to promote development around the globe, with a particular emphasis on Latin America.

David Bohigian, acting president and chief executive officer of the Overseas Private Investment Corporation, said an agency known as the U.S. International Development Finance Corporation will start operating on Oct. 1st.

In addition to loans, loan guarantees and political risk insurance, DFC will have the authority to make limited equity investments with a $60 billion cap.

Specifically, the U.S. expects to double its financing in the Western Hemisphere to $12 billion.

Photo courtesy of Bioversity International.

Source: AP News (link opens in a new window)

development finance, global development