U.S. Development Finance Legislation Garners Bipartisan Support; Questions About Details Remain

Devex: Support for new U.S. development finance bill, even as some details are questioned
“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…” (Saldinger, 3/1).

Sunshine State News: Ted Yoho Wants to Reform How Feds Handle International Development Finances
“U.S. Rep. Ted Yoho, R-Fla., the chairman of the U.S. House Asia and Pacific Subcommittee, is the House sponsor of a major reform of how the federal government manages international development finances. Yoho is the House sponsor of the ‘Better Utilization of Investments Leading to Development Act (BUILD Act)’ which streamlines a host of federal programs into a single development finance corporation. The Trump administration made a similar proposal in its FY 2019 budget request. … Yoho has reeled in U.S. Rep. Adam Smith, D-Wash., as a cosponsor. The bill was sent to the House Foreign Affairs Committee. Over in the Senate, Foreign Relations Committee Chairman Bob Corker, R-Tenn., and U.S. Sen. Chris Coons, D-Del., introduced a similar proposal…” (Derby, 3/1).

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