The Trump administration has a plan for how it would like to see the U.S. International Development Finance Corporation evolve: more money, more countries, more equity, more flexibility, less oversight.
U.S. President Donald Trump’s proposal, a copy of which was obtained by Devex, would revamp America’s premier development finance institution. There are a number of similar proposals being discussed in Congress, where DFC generally enjoys bipartisan support. But despite having the backing of many Democratic and Republican lawmakers, in addition to the administration — a rarity when it comes to development nowadays — DFC is fast approaching its expiration date.
When the agency was created by the BUILD Act in 2018, it was authorized for seven years, a time frame that expires on Oct. 6, 2025. With few legislative days between now and then as Congress heads home for the August recess, and a lot of work to be done, worries are mounting among advocates whether a reauthorization is even possible before that expiration date. This comes despite efforts to reauthorize DFC starting nearly two years ago to avoid such a precipice.
About the author
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.
