Gujarat Headline News Top Stories World

DFC CEO Nathan Builds Upon U.S.-India Economic and Development Partnerships in Mumbai, India  

MUMBAI, India – U.S. International Development Finance Corporation (DFC) CEO Scott Nathan traveled to Mumbai, India, where he engaged with private sector leaders advancing strategic social and economic development in India and the Indo-Pacific region. In Mumbai, CEO Nathan met with private sector companies that are advancing health outcomes, providing financial access to women, and developing innovative solutions to drive climate-friendly energy sources.  

CEO Nathan met with private sector leaders at an event hosted by the U.S. India Strategic Partnership Forum, where he discussed DFC’s investment priorities in the country as well as opportunities to partner with the private sector. He also joined leadership from private equity funds to learn about India’s innovative impact funds and new equity investment opportunities. 

Later, CEO Nathan met with India Export-Import Bank of India (EXIM Bank) Managing Director Harsha Bangari. The two discussed the importance of the continued partnership between DFC and EXIM Bank under the Quad and current and future collaborations with fellow Quad development banks across key sectors such as clean energy, digital connectivity, and supply chains.  

The CEO met with Sujoy Ghosh, India Country Head for First Solar, Inc. DFC financing supports First Solar’s vertically integrated photovoltaic (PV) solar module manufacturing facility in Tamil Nadu, India, with a projected annual capacity of 3.3 gigawatts. The facility is diversifying solar supply chains for renewable energy projects in the country the region.  

CEO Nathan met with CreditAccess Grameen Limited for a ceremonial signing event to highlight DFC’s $35 million loan, which will support the expansion of its microfinance portfolio. CreditAccess is the largest NBFC-MFI in India, serving nearly 4 million women. It is estimated that DFC’s loan will help CreditAccess reach an additional 500,000 women in need throughout the life of the loan. CreditAccess is also the first institution to partner with DFC in a new initiative that will aim to increase financial inclusion for marginalized women and will bring more women into employment and leadership in microfinance.  

In a ceremonial signing event, CEO Nathan highlighted DFC’s $10 million guaranty of a Rupee loan to Punjab Renewable Energy Systems Private Limited (PRESPL), a biomass supply chain management company in India.  DFC financing will fund construction of seven biomass briquetting plants and finance working capital needs of PRESPL, helping to meet India’s growing energy needs. 

CEO Nathan also met with other leading Indian companies to deepen collaboration and identify potential areas of partnership. 

U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.  

Leave a Reply

Your email address will not be published.