Trump taps Seminole exec for African Development Bank

A Heathrow businessman has been tapped by President Donald Trump to represent the U.S. at the African Development Bank, a group of 80 member nations designed to boost economic development on the continent.

The nominee, J. Steven Dowd, 64, is the co-founder and manager of Ag Source LLC, a transportation, finance and agriculture logistics company based in Lake Mary, according to information provided by the White House announcing his nomination to serve as the U.S. director for the African Development Bank.

According to county voting records, Dowd was registered as a Democrat in Seminole County from 1990 until Nov. 17, when he switched to the Republican Party — nine days after the presidential election. If confirmed by the U.S. Senate, he’ll be the first U.S. director to the bank since late 2013. Former President Barack Obama’s 2014 nominee was not considered by the Senate.

Neither Dowd nor the White House Press Office responded to requests for comment on nomination.

He was CEO of Marcona Ocean Industries, an international shipping and mining company he formed in Longwood in 1995.

Dowd earned an undergraduate degree in history from Manhattan College in New York City and a graduate degree in foreign service from Georgetown University in Washington, D.C., where he was designated as a Georgetown Fellow in Foreign Service, according to the White House.

Established in 1964 and currently based in Abidjan, Ivory Coast, the African Development Bank’s mission is to promote investment of public and private capital in projects and programs — including agriculture, health, education, public utilities, transportation and telecommunication — that help reduce poverty and sustain economic growth.

In 2016, the bank handed out nearly $5 billion, according to a financial report.

The 80 member nations include 54 from the African continent and 26 from Asia, the Middle East, North America, South America and Europe. his