The Egyptian-American Enterprise Fund Announces Resignation of Board Member

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July 5, 2023


NEW YORK, NY—The Egyptian-American Enterprise Fund (“EAEF”) today announced that David Bohigian has stepped down after completing his term as a board member of the Fund.

“David has served on EAEF’s board of directors since early 2021,” said James Harmon, Chairman of EAEF. “Over this time, he has made important contributions to the growth and success of EAEF, drawing on his extensive experience in the private sector and federal government. This includes helping EAEF strengthen its corporate governance and impact reporting practices. On behalf of EAEF and the board of directors, I thank David for his service and wish him well in his future endeavors.”

Background on EAEF and Enterprise Funds

Following Egypt’s 2011 revolution, the U.S. Congress created the Egyptian-American Enterprise Fund to help rebuild the country’s private sector. To stimulate Egypt’s private sector after a sharp decline in tourism and foreign direct investment, the U.S. Congress reintroduced a bipartisan initiative pioneered by the first Bush administration in the early 1990s: private sector-led investment funds that used public funding to build market-based economies in the former Soviet Union. These enterprise funds provide flexible equity and debt financing to private enterprises in undersupplied capital markets to help attract additional foreign investment. Current enterprise funds are managed by The U.S. Agency for International Development (“USAID”). According to the BUILD ACT of 2018, new enterprise funds will be managed by the Development Finance Corporation (“DFC”).


Press Contact
Egyptian-American Enterprise Fund
Cornelius Queen

Further Information about the Egyptian-American Enterprise Fund

The Egyptian-American Enterprise Fund is a United States government-funded private entity. Since the inception of the Enterprise Fund Program, over US $1.1 billion has been invested directly alongside US $6.9 billion invested by private parallel funds.

With capital of $300 million, EAEF is committed to promoting financial inclusion, job creation, and increasing foreign and domestic investment in Egypt for long-term sustainable economic development. EAEF’s primary mission is to stimulate the Egyptian private sector by providing access to finance, human capital, modern technologies as well as best business practices, while also achieving financial profitability.

The fund is led by an independent board of directors composed of 3 Egyptian citizens and 6 American citizens, as prescribed by the U.S. Congress.

USAID administers the U.S. foreign assistance program, providing economic and humanitarian assistance in more than 80 countries worldwide.

This press release is made possible by the generous support of the American people through the USAID.

The contents are the responsibility of the Egyptian-American Enterprise Fund and do not necessarily reflect the views of USAID or the United States Government. Further details on EAEF can be found at

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