The U.S. International Development Finance Corporation is one of those rare government creatures that enjoys relative bipartisan support — relative being the operative word. It remains to be seen if that support will continue as it pushes for a congressional reauthorization of the BUILD Act, which established the agency in 2019.
Since then, DFC — which funds private sector development projects abroad — has grown exponentially, with staff members roughly doubling in size from around 300 to 600 today and its original $29 billion lending exposure cap expanding to $60 billion.
It hopes to go even further — and putting the wind at its back is one of DFC’s core missions: offering developing countries an alternative to China, a geopolitical self-interest that appeals to many Republicans and Democrats alike.