1 March 2018

Support for new US development finance bill, even as some details are questioned

WASHINGTON — The bipartisan bill introduced Tuesday proposing the creation of a new United States development finance corporation could be a landmark piece of legislation, altering the U.S. development landscape for years or decades to come. But observers note that while it has been generally well received, there are several details that may need ironing out in the weeks and months ahead as it works its way through the political process.

The Better Utilization of Investment Leading to Development, or BUILD Act, would create a new agency that would combine the Overseas Private Investment Corporation and the several private sector-oriented parts of the U.S. Agency for International Development, as well as expand U.S. development finance capabilities. The new agency will have the ability to make equity investments, have a higher spending cap, and have a grantmaking facility for project development and technical assistance…

Read the full article here.