The BUILD Act at Five Years: Key Considerations to Building a Better Development Finance Construct
Please join the CSIS Project on Prosperity and Development and the CSIS Economics Program on Thursday, September 28 from 9:00 AM - 10:30 AM ET for an engaging panel discussion on the reauthorization of the U.S. International Development Finance Corporation (DFC) and the changes to be made to the BUILD Act and its implications for investing in digital and hard infrastructure.
The U.S. International Development Finance Corporation (DFC), created through the 2018 BUILD Act, is set for reauthorization in 2025. The BUILD Act designed the DFC by merging agencies to invest in developmental projects. It expanded its predecessor's - the Overseas Investment Corporation (OPIC) - tools, increased its spending cap to $60 billion, and removed U.S. nexus requirements for foreign investments. However, DFC faces challenges in meeting its goals due to legacy risk aversion, operational issues, and unrealistic expectations, especially in global infrastructure investment. DFC's ongoing work includes fostering collaboration among Development Finance Institutions (DFIs) for digital connectivity, emphasizing the need to balance high-risk vendors in digital risk protection during reauthorization.
This event marks the release of a report "The Next Five Years of the DFC: Ten Recommendations to Revamp the Agency."
This event was made possible through the generous support of Qualcomm.