Speeches Shim

The Better Utilization of Investments Leading to Development (BUILD) Act of 2018, signed into law by President Donald J. Trump on October 5, 2018, consolidates the Development Credit Authority (DCA) of the U.S. Agency for International Development (USAID) and the Overseas Private Investment Corporation (OPIC) into a reformed U.S. International Development Finance Corporation.

The U.S. International Development Finance Corporation (USIDFC) will catalyze market-based, private-sector development, spur economic growth in less-developed countries, and advance the foreign policy interests of the United States. The development finance corporation creates a unique opportunity for USAID to scale up its use of financing tools for development. USAID Missions will be able to tap into an expanded toolbox of financing options beyond guarantees (including loans, political-risk insurance and equity) and a broader range of private sector expertise to support ongoing programs towards enterprise-led development.