WASHINGTON – The U.S. Treasury Department has announced that Annie Donovan will be the new Director of the Community Development Financial Institutions Fund (CDFI Fund).
As Director, Donovan will oversee the expansion of access to capital and financial services in critically underserved urban, rural, and tribal communities, where one of the biggest obstacles to economic development is a lack of access to mainstream sources of private sector capital.
“The CDFI Fund has supported small businesses, developed affordable housing, and created jobs in communities across the country for the past 20 years,” said Deputy Treasury Secretary Sarah Bloom Raskin. “With her expert understanding of the intersection of finance and community development, I look forward to Annie’s leadership in enhancing economic development in communities that need it most.”
Donovan was a founding director of ROC USA, serving on the social venture’s first Board. At the time, she served as Chief Operating Officer at Capital Impact Partners.
“Annie was instrumental in guiding ROC USA through those critical formative years at a time when the economy was at its worst,” said Paul Bradley, president of ROC USA. “I’m so happy to see such a smart and talented colleague in such an important job. She understands how community development works in low- and moderate-income neighborhoods, something I appreciate in someone who has ascended to one of the biggest jobs in our sector.”
To read more about Donovan’s appointment, click here and to read more from Donovan herself, click here.