Since its creation under the first Trump Administration with broad bipartisan support in Congress, the U.S. International Development Finance Corporation (DFC) has become a cornerstone of U.S. economic and foreign policy and one of America’s most effective tools to compete and win on the global stage.

USGLC is proud to have been at the ground level on the BUILD Act back in 2018 and to be a longstanding champion for the DFC.

At a time when America’s rivals are rapidly expanding their influence and presence from Latin America to Africa to the Indo-Pacific, the DFC has proven to be a smart, market-driven instrument of American power – unleashing private capital to advance U.S. strategic interests, supporting American businesses and U.S. jobs, and offering a transparent alternative to China’s exploitative Belt and Road Initiative.

With the expiration of the DFC’s ability to make new investments last month, a bipartisan long-term reauthorization is urgent and essential to enhance and strengthen this impactful tool for the current moment.

As policymakers debate critical issues – including increasing the cap on its portfolio size , making limited adjustments to allow investments in high income countries, and finally addressing the “equity fix” –  it is vital that we ensure the DFC continues to operate with the speed, scale, and flexibility required in a rapidly evolving global landscape while staying true to its development mandate.

Congress and the Administration have a critical window to come together to strengthen a tool that’s already proving its worth. This is an opportunity to support a modern, nimble DFC that advances America’s interests abroad while delivering lasting development impact. There is no time to waste.

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