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photo of group of people in the Oval Office, including OPIC President and CEO Ray W Washburne, as President Donald J Trump signs the FAA Reauthorization and the BUILD Act into law
(Official White House Photo by Joyce N. Boghosian)

A New Era in U.S. Development Finance

OPIC to begin transition to the U.S. International Development Finance Corporation

FAQs | BUILD Act Text | In the News 

 

On October 5, 2018, President Trump signed the Better Utilization of Investments Leading to Development (BUILD) Act into law landmark legislation that will soon reform and strengthen U.S. development finance capabilities into a new federal agency to help address development challenges and foreign policy priorities of the United States.

The U.S. International Development Finance Corporation (DFC) will be a modern, consolidated agency that brings together the capabilities of OPIC and USAID’s Development Credit Authority, while introducing new and innovative financial products to better bring private capital to the developing world. The U.S. will have more flexibility to support investments in developing countries to drive economic growth, create stability, and improve livelihoods.

DFC will make America a stronger and more competitive leader on the global development stage, with greater ability to partner with allies on transformative projects and provide financially-sound alternatives to state-directed initiatives that can leave developing countries worse off.

Before DFC opens its doors, OPIC and DCA will operate without interruption and continue to work cooperatively to build the new agency.

 

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OPIC PRESIDENT'S STATEMENT AS BUILD ACT IS SIGNED INTO LAW

    

REORGANIZATION PLAN

  

MODIFICATION OF REORGANIZATION PLAN

The White House announced its support for the BUILD Act as a "recognition of the growing role development finance will plan to meet development needs and advance U.S. interests."

  

The President's Reorganization Plan for the U.S. Development Finance Corporation as submitted to Congress on March 8, 2019.

  

The President’s Reorganization Plan for DFC was modified on September 26, 2019.

   

   

   

   

   

WASHBURNE TESTIMONY TO CAPITOL HILL

   

REPORT ON COORDINATION

   

DFC BOARD MEETING

In his remarks to the Senate Foreign Relations Committee, Mr. Washburne discusses the proposal to improve efficiencies, advance U.S. foreign policy goals, and reform development finance with the BUILD Act.

   

Report to Congress discussing how DFC and USAID will coordinate after DFC becomes operational.

   

The corporate governance documents of  DFC as approved on June 12, 2019.