After almost a year of discussion and debate, the BUILD Act — which, if enacted would create a new United States development finance institution — passed on Oct. 3. The U.S. International Development Finance Corporation would absorb the Overseas Private Investment Corporation as well as several U.S. Agency for International Development functions.
Last week, Associate Editor Adva Saldinger and Engagement Editor Kate Midden explored what it took to get to this point, how the bank will function, and what it means for the future of development financing.
• A new US development finance agency takes flight
• Exclusive: Plans underway for new US development finance bank
• Exclusive: New US DFI expected to get strong White House support
• Q&A: OPIC's Ray Washburne on the proposed US development finance institution