Adam S. Boehler Confirmed as First CEO of U.S. International Development Finance Corporation
September 26, 2019
WASHINGTON – Adam S. Boehler was today confirmed by the United States Senate to serve as the first Chief Executive Officer of the U.S. International Development Finance Corporation (DFC) – a new U.S. Government agency. DFC modernizes and reforms the U.S. Government’s development finance capabilities – primarily the Overseas Private Investment Corporation (OPIC) and the Development Credit Authority (DCA) of the U.S. Agency for International Development (USAID).
“The bipartisan mandate of DFC is clear: to bring a nimble, proactive approach with a full suite of financing tools – in partnership with the private sector – to create impactful change in less developed countries and advance U.S. foreign policy,” said Boehler. “It is a true honor to have the chance to serve the American people at the helm of this new agency. By tackling critical development challenges and creating opportunities abroad, we can advance economic freedom, foster stability, and healthy economies can prosper.”
“Adam will be a strong, innovative leader for the new U.S. International Development Finance Corporation,” said OPIC Acting President and CEO David Bohigian. “A successful entrepreneur and investor, Adam has built his career on starting and growing impact-driven businesses. This experience will be an invaluable resource as he works with the extraordinary staff to launch the new agency and build a world-class development finance institution that leverages its enhanced tools and resources to impact millions of lives across the globe.”
DFC was created by the Better Utilization of Investments Leading to Development (BUILD) Act – landmark bipartisan legislation signed into law by President Trump in October 2018. In addition to consolidating OPIC and DCA, the BUILD Act equips DFC with a more than doubled investment cap of $60 billion and new financial tools to more effectively mobilize private capital. Further, DFC is charged with an important role in helping to advance U.S. foreign policy by countering the growing influence of authoritarian regimes. The new agency is expected to receive full funding and authority from Congress to launch in the coming months.
“David Bohigian has successfully worn two hats – leading the dedicated OPIC staff and working to stand up the new DFC. I admire his continued dedication to the agency and to public service, and I look forward to working with him,” said Boehler.
Mr. Boehler brings extensive experience in investment, entrepreneurship, and innovation both in and outside of the U.S. Government. Prior to his confirmation, he served as Senior Advisor to the Secretary, Deputy Administrator of the Centers for Medicare & Medicaid Services, and Director of the Innovation Center at the U.S. Department of Health and Human Services (HHS). In this role, Mr. Boehler oversaw 600 employees focused on innovating the U.S. healthcare system to create better outcomes for patients, healthier communities, and lower the cost of healthcare.
Prior to his government service, Mr. Boehler founded three successful businesses and was widely regarded as a leader in healthcare innovation. Most recently, he served as CEO of Landmark Health, a company he founded that delivers round-the-clock home health care to chronically ill patients. During Mr. Boehler’s tenure, Landmark grew to be the largest home-based medical group in the country, with over 1,000 employees serving 80,000 patients. This first half of Mr. Boehler’s career focused on domestic and international investing in the United States and Israel.
Mr. Boehler was born and raised in upstate New York and earned his degree from the Wharton School of the University of Pennsylvania.
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.