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Devex Interviews Director Of USAID’s Development Credit Authority

In an interview with Ben Hubbard, director of USAID’s Development Credit Authority, the office that partners with banks and other finance institutions to guarantee loans, Devex examines how the office “is now working behind the scenes to change the way USAID regional bureaus and country missions finance development projects by alleviating investment risks and putting finance officers in the field.” According to Devex, “Hubbard sees his office playing a larger role in helping USAID link its country strategies to commercial banks and microfinance institutions which might be able to direct private capital to nearby development projects, instead of relying on foreign aid grants. … This shift from donors funding projects directly to using foreign assistance to leverage private funds, he says, is indicative of a changing global development climate” (Igoe, 6/18).