Friends of the Earth Statement on Senate Confirmation of Ben Black to Lead U.S. International Development Finance Corporation
WASHINGTON — The Senate’s confirmed Ben Black as Chief Executive Officer of the U.S. International Development Finance Corporation (DFC). The Senate voted 51–47 this week to confirm Black, a former managing partner at Fortinbras Enterprises and an Apollo Global Management executive. Black’s deep ties to private equity and limited foreign policy experience raise serious concerns about the future of the agency’s environmental and social safeguards and its commitment to sustainable development.
“Ben Black’s confirmation signals a dangerous shift at DFC from its focus on development toward profit-first investment,” said Kayla Mohammed, International Policy and Finance Campaigner. “We fear that under his leadership, DFC will expand financing for projects that undermine climate goals and harm vulnerable communities. Friends of the Earth calls on Congress and oversight bodies to rigorously monitor DFC’s decisions under Black’s leadership and ensure that U.S. development finance remains aligned with climate and justice commitments — not corporate profit.”
Friends of the Earth have repeatedly raised alarms about DFC’s growing role in financing extractive projects abroad. The agency’s involvement in mining and industrial infrastructure has already sparked environmental review concerns, particularly around transparency, consultation, and accountability. Under Black’s leadership, those problems are likely to worsen as the agency tilts further toward projects that prioritize financial returns over environmental justice.
Expert contact: Kayla Mohammed, [email protected]