US International Development Finance Corporation
Author: Georgia Thorne
Established in 2019, the US International Development Finance Corporation (DFC) originated through the Better Utilization of Investments Leading to Development (BUILD) Act which passed on 5 October 2018. As a development finance institution, its role is to mobilise private capital to support development projects around the world (Dresner, 2021). The DFC sees the capabilities of USAID’s Development Credit Authority (DCA) and Overseas Private Investment Corporation (OPIC) coming together to strengthen and modernise American development finance. It has a liability limit of USD 60 billion, compared to its predecessor’s (OPIC) USD 29 billion (Kenny, 2019). This is likely to cement the US DFC as the largest western bilateral development finance institution (Kenny, 2019).