US President Joe Biden has nominated Indian-origin Deven Parekh to the board of directors of the International Development Finance Corporation (IDFC). IDFC partners with the private sector to provide financing to address challenges facing developing countries.

The International Development Finance Corporation Board of Directors consists of four members on the recommendation of the US President.
Deven Parekh has been appointed to this post on the recommendation of the US Senate.

Deven Parekh:

Deven Parekh is currently Managing Director at Insight Partners, a New York-based growth equity investment fund.
Since joining Insight in 2000, Parekh has invested in more than 140 companies across enterprise software data and consumer internet businesses globally, including in the US, Europe, Asia, the Middle East, Africa, Latin America and Australasia.
Parekh holds an Economics degree from the Wharton School, University of Pennsylvania.
Parekh was honoured with the Robert F. Kennedy Ripple of Hope Award in 2021.

International Development Finance Corporation (IDFC):

IDFC is a key American development finance institution which invests primarily in development projects in low- and middle-income countries. IDFC partners with the private sector to address the most pressing challenges currently facing developing countries.

Other Indians in the US administration:

For the first time, People of Indian origin were appointed to the administration by the American President during the time of Ronald Reagan.
Indian communities in America constitute about one per cent of the American population.
Biden's speech writer is Vinay Reddy.
The chief advisor for Covid-19 is Dr. Ashish Jha.
Sonia Aggarwal, is an advisor on Climate Policy.
Chirag Bains is a special assistant on Criminal Justice.
The senior advisor is Neera Tandon and the drug czar is Rahul Gupta.
Currently, many Indians are leading top American companies; prominent among them are Google's Sundar Pichai and Microsoft's Satya Nadella.