ABSTRACT

BUILD Act: Frequently Asked Questions About the New U.S. International Development Finance Corporation [Updated January 15, 2019]   [open pdf - 1MB]

"The BUILD Act [Better Utilization of Investments Leading to Development Act of 2018] requires the Administration to submit to Congress a reorganization plan within 120 days of enactment of the act, and the IDFC [U.S. International Development Finance Corporation] is not permitted to become operational any sooner than 90 days after the President has transmitted the reorganization plan. The 116th Congress will have responsibility for overseeing the Administration's implementation of the BUILD Act. As the IDFC is operationalized, Members of Congress may examine whether the current statutory framework allows the IDFC to balance both its mandates to support U.S. businesses in competing for overseas investment opportunities and to support development, as well as whether it enables the IDFC to respond effectively to strategic concerns especially vis-à-vis China. Congress also may consider whether to press the Administration to pursue international rules on development finance comparable to those that govern export credit financing. More broadly, the IDFC's establishment could renew legislative debate over the economic and policy benefits and costs of U.S. government activity to support private investment, and whether such activity is an effective way to promote broad U.S. foreign policy objectives."

Report Number:
CRS Report for Congress, R45461
Author:
Publisher:
Date:
2019-01-15
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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