Caren S. Franzini Fellowship Grant

The Caren S. Franzini Fellowship, established in 2017 by the CDFA Board, honors the leadership of Caren Franzini, a former CEO of NJEDA. This six-month program empowers women in development finance by providing leadership opportunities and hands-on experience with CDFA. Participants engage in virtual meetings, training, and collaborative projects, culminating in presentations at the CDFA National Development Finance Summit. The fellowship aims to inspire and cultivate the next generation of women leaders in the industry.

About the Caren S. Frazini Fellowship
The Caren S. Franzini Fellowship was established in 2017 by the CDFA Board of Directors to recognize the exemplary leadership of Caren Franzini, a past President of CDFA and former CEO of the New Jersey Economic Development Authority (NJEDA). During her career, Caren was dedicated to advancing development finance best practices, education, and advocacy.
Recognized by her peers and colleagues as “simply the best,” Caren brought a high level of mastery and acumen to her work. Her commitment to the development finance industry is evident in the numerous programs created and the billions of dollars of investment she catalyzed during her tenure at NJEDA. She was equally passionate about building leaders and experts in the field as she was about financing businesses, expanding economic growth, and creating jobs for New Jersey communities.
The Caren S. Franzini Fellowship was established to empower women in development finance by fostering leadership opportunities and inspiring them to embody Caren’s spirit and professionalism. This six-month program provides Franzini Fellows with the chance to work directly with CDFA, developing lasting leadership skills and advancing the field of development finance. Each class of Franzini Fellows collaborates on a significant industry project, such as creating new financing programs, researching innovative deal structures, publishing best practices, or demonstrating new methodologies. Their collective work highlights expertise in development f inance and showcases the impact of women-led initiatives.
Throughout the Fellowship, participants engage in a series of virtual meetings where they connect with other accomplished women in development finance, receive training and inspiration from industry leaders, and develop a roadmap for building a successful career in the field. The Fellowship culminates in an in-person gathering at the CDFA National Development Finance Summit, where Franzini Fellows present their research to a national audience of development finance practitioners.

Eligibility

The Caren S. Franzini Fellowship is open to women in the development finance industry. To participate in the Fellowship, candidates must be employed by a CDFA member organization and have their employer's support throughout the program. Applicants must meet the following requirements to be considered:Be a woman who is employed by a CDFA member organization* at the time of applicationHave no more than 10 years of experience in the development finance industryPossess a Bachelor’s degree from an accredited academic institutionBe able to travel and fully participate in all in-person and virtual meetings
*Women employed by nonprofit organizations and state, county, and municipal development finance agencies and authorities are encouraged to apply.