Devex: BUILD Act for new U.S. development finance corporation sails through Senate committee vote
“The United States Senate Committee on Foreign Relations easily approved legislation to create a new development finance institution Tuesday, leaving the bill awaiting passage in both the House of Representatives and the Senate. The 21-person committee, in a business meeting Tuesday, briefly discussed the Better Utilization of Investment Leading to Development, or BUILD Act, which would create a new agency that would combine the Overseas Private Investment Corporation and the U.S. Agency for International Development’s Development Credit Authority, as well as expand U.S. development finance capabilities, before approving an amended version of the bill and passing the legislation with just one ‘no’ vote…” (Saldinger, 6/27).