US Appoints Nigerian DFC Advisory Council Member

Damilola Ogunbiyi

Bayo Akinloye

The United States International Development Finance Corporation (DFC) Board of Directors has appointed Mrs. Damilola Ogunbiyi as a member of the agency’s inaugural Development Advisory Council (DAC).

Ogunbiyi and other council members will advise the DFC on ways to increase development impact, a statement obtained from the US government by THISDAY said.

The DAC was established by the Better Utilisation of Investments Leading to Development (BUILD) Act of 2018, which created DFC and members are appointed by DFC’s CEO in consultation with the agency’s chief development officer and with the approval of its board.

Ogunbiyi serves as Chief Executive Officer and Special Representative of the United Nations (UN) Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy.

Prior to her appointment to these roles by UN Secretary-General António Guterres, she held various leadership positions in organisations focused on expanding energy access in Sub-Saharan Africa and was the Managing Director/CEO of Nigeria’s Rural Electrification Agency (REA) before joining the UN.
“I am proud to welcome the inaugural members of DFC’s Development Advisory Council,” said DFC Chief Executive Officer, Adam Boehler.

Boehler added, “These individuals have championed private sector-led global development and dedicated their careers to helping communities in need.
“They bring a wealth of experience that will be instrumental in helping DFC carry out its development mandate. I look forward to the first meeting of the Development Advisory Council in the near future.”

Other members of the council include Founder and Chairman of the Board of Massar International, Bashar Masri; Chairman of Mosbacher Energy Company, Robert Mosbacher, Jr.; President and Chief Executive Officer of CARE USA, Michelle Nunn; Policy Director at Brownstein Hyatt Farber Schreck, LLP, Edward R. Royce; and Executive Vice President for International Development at RTI International, Paul Weisenfeld.

A statement by the US government said about the agency, “The DFC is America’s development bank and it partners the private sector to finance solutions to the most critical challenges facing the developing world, investing 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.”