WASHINGTON – The USGLC President and CEO Liz Schrayer released the following statement on the House Foreign Affairs Committee’s overwhelming 43-2 vote to approve new bipartisan legislation reauthorizing the U.S. Development Finance Corporation (DFC):

Today’s bipartisan vote to reauthorize the U.S. Development Finance Corporation (DFC) is an important step forward in strengthening America’s economic development toolkit to advance our interests around the world and here at home. We applaud Chairman McCaul and Ranking Member Meeks for their bipartisan leadership and important work to ensure the DFC continues to deliver even greater results in the years ahead.

We know America’s adversaries and competitors, including China, are playing to win – using every tool at their disposal to expand their influence, often at the expense of American interests. Since its creation, the DFC has become a critical component in America’s strategy to compete by making America the partner of choice for developing nations. By leveraging public-private partnerships to deliver smart, sustainable solutions, the DFC is at the forefront of addressing today’s complex global challenges.