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    Congressional hearing kicks off DFC reauthorization efforts

    While key changes are needed, DFC appeared to have bipartisan support at a House Foreign Affairs subcommittee hearing on Tuesday.

    By Adva Saldinger // 12 March 2025

    The U.S. International Development Finance Corporation must be reauthorized by October, and lawmakers launched the process in this Congress with a hearing on Tuesday that offered a glimpse of something rare these days on Capitol Hill: bipartisanship.

    DFC, which finances private sector development solutions, was founded in 2019 and given a seven-year mandate, which expires in October. The agency, however, may need to slow operations even sooner because it has invested nearly $50 billion of its $60 billion lending cap. Last year, DFC committed more than $12 billion across 181 transactions, with about 70% directed to low-income or lower-middle-income countries.

    Reauthorization discussions to date have recommended at least doubling DFC’s lending ability to $120 billion, if not increasing it further.

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    More reading:

    ► Scoop: Staff cuts coming to DFC

    ► Five years in, DFC navigates growth, reform, and global competition

    ► DFC has record year following reorganization, but needs reauthorization (Pro)

    • Banking & Finance
    • Institutional Development
    • Trade & Policy
    • Economic Development
    • U.S. International Development Finance Corporation (DFC)
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    About the author

    • Adva Saldinger

      Adva Saldinger@AdvaSal

      Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.

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