WASHINGTON – The USGLC President and CEO, Liz Schrayer, released the following statement on the Better Utilization of Investments Leading to Development Act, or BUILD Act, being signed into law:

The action in the House and Senate to pass the BUILD Act is yet another example of Congress putting aside partisan politics to prioritize the global development agenda, giving America another winning tool to advance our interests in the world.

This strong bipartisan vote moves us closer to launching a new, more effective development finance institution to help ensure our nation can compete in the world’s fastest growing markets while fighting global poverty.

A big shout out to Chairman Corker, Senator Coons, Reps. Yoho and Smith, the Administration, and OPIC President Ray Washburne. Without their leadership the BUILD Act would not have passed Congress and been signed into law by President Trump.

While development finance is not a replacement for foreign assistance, this move clearly represents a win to strengthen an underutilized and critical part of America’s global economic toolkit.