BUILD Act Has Opportunity To Create Coherence, Synergies For U.S. Development Finance
The Hill: Rethinking how we handle development finance
Brendan McBryde, managing editor for the Borgen Project
“Way back in July 2015, Center for Global Development researchers Ben Leo and Todd Moss revealed the new landscape of development finance. … [T]hey noticed two key deficiencies in traditional U.S. aid policy: ‘development dynamics are shifting rapidly from a donor-recipient aid relationship to win-win partnerships involving public and private actors’; and, ‘aid agencies typically are not positioned to address many pressing development priorities, such as expanding economic opportunities in frontier markets.’ … What Leo and Moss proposed as a remedy for these inefficiencies makes for prophetic reading: the creation of a full-service, self-sustaining U.S. Development Finance Corporation that delivers development results, advances U.S. foreign and commercial policy objectives, and reduces the federal deficit through modest operating profits. Now before the Senate, The BUILD (Better Utilization of Investments Leading to Development) Act of 2018 does exactly that. … Any opportunity for coherence and synergy in the delivery of development finance should be welcomed, from the perspective of nations in need, companies with untapped potential, and the U.S. taxpayer” (4/16).