To modify and reauthorize the Better Utilization of Investments Leading to Development Act of 2018, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill expands non-binding Sense of Congress and Statement of Policy directing DFC to increase risk tolerance, use flexible financial instruments (equity, mezzanine debt, first-loss coverage, blended finance, insurance), amends BUILD Act Section 1402 to add definitions for 'high-income country' (World Bank classification) and 'country of concern' (Venezuela, Cuba, North Korea, Iran, China, Russia, Belarus), and amends BUILD Act Section 1412 to expand DFC operations beyond less-developed countries to include high-income countries and areas, subject to Presidential certification that such support furthers U.S. It relies on exemptions, definition changes, trade restrictions, and appropriations. The main policy areas are Finance, Trade, Foreign Policy, and Energy.
Who Benefits and How
DFC CEO (consolidated executive authority) would be affected, DFC (self-funding equity operations) could gain revenue opportunities, and DFC (expanded geographic mandate) could gain revenue opportunities.
Who Bears the Burden and How
Russian state-owned enterprises could face higher barriers, Chinese state-owned enterprises could face higher barriers, and State-owned enterprises from other countries of concern could face higher barriers.
Key Provisions
- Expands non-binding Sense of Congress and Statement of Policy directing DFC to increase risk tolerance, use flexible financial instruments (equity, mezzanine debt, first-loss coverage, blended finance, insurance)...
- Amends BUILD Act Section 1402 to add definitions for 'high-income country' (World Bank classification) and 'country of concern' (Venezuela, Cuba, North Korea, Iran, China, Russia, Belarus).
- Amends BUILD Act Section 1412 to expand DFC operations beyond less-developed countries to include high-income countries and areas, subject to Presidential certification that such support furthers U.S.
- Expands eliminates the Chief Development Officer position at DFC, consolidating its development-focused duties under the CEO.
- Creates a revolving Equity Investments Account at the Treasury for DFC.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill expands non-binding Sense of Congress and Statement of Policy directing DFC to increase risk tolerance, use flexible financial instruments (equity, mezzanine debt, first-loss coverage, blended finance, insurance), amends BUILD Act Section 1402 to add definitions for 'high-income country' (World Bank classification) and 'country of concern' (Venezuela, Cuba, North Korea, Iran, China, Russia, Belarus), and amends BUILD Act Section 1412 to expand DFC operations beyond less-developed countries to include high-income countries and areas, subject to Presidential certification that such support furthers U.S.
Key Policy Areas
Finance, Trade, Foreign Policy, Energy
Primary Purpose
The bill expands non-binding Sense of Congress and Statement of Policy directing DFC to increase risk tolerance, use flexible financial instruments (equity, mezzanine debt, first-loss coverage, blended finance, insurance), amends BUILD Act Section 1402 to add definitions for 'high-income country' (World Bank classification) and 'country of concern' (Venezuela, Cuba, North Korea, Iran, China, Russia, Belarus), and amends BUILD Act Section 1412 to expand DFC operations beyond less-developed countries to include high-income countries and areas, subject to Presidential certification that such support furthers U.S.
Policy Domains
Title I — Definitions and Geographic Focus
Identified Gains
- DFC CEO (consolidated executive authority)
- DFC (self-funding equity operations)
- DFC (expanded geographic mandate)
- DFC (expanded fee and fund transfer authority)
- U.S. companies seeking DFC financing in allied high-income countries
Identified Costs
- Russian state-owned enterprises
- Chinese state-owned enterprises
- State-owned enterprises from other countries of concern
- Companies with projects in countries of concern
- Russian state-owned enterprises and investors
Sponsors
Legislative Progress
IntroducedMr. Mast introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
DFC (autonomous enterprise fund authority), DFC (expanded fee and fund transfer authority), DFC (expanded geographic mandate)
Positive-direction: DFC (autonomous enterprise fund authority), DFC (expanded fee and fund transfer authority), DFC (expanded geographic mandate), DFC (expanded procurement and leasing authority), DFC (self-funding equity operations), DFC CEO (consolidated executive authority), DFC as institution, DFC as institution (streamlined operations)
Negative-direction: U.S. Treasury (forgoes equity earnings transfers), USAID (loses coordination role), USAID (loses enterprise fund role)
Chinese state-owned enterprises, Chinese state-owned enterprises and investors, Companies engaged in anticompetitive practices
Positive-direction: Private companies competing against adversarial SOEs, U.S. companies seeking DFC financing in allied high-income countries
Negative-direction: Chinese state-owned enterprises, Chinese state-owned enterprises and investors, Companies engaged in anticompetitive practices, Companies with projects in countries of concern, Russian state-owned enterprises, Russian state-owned enterprises and investors, State-owned enterprises from other countries of concern
DFC-supported sovereign wealth funds and parastatal entities (non-concern countries), Emerging market project developers, Non-designated development finance institutions
Positive-direction: Emerging market project developers, Non-designated development finance institutions
Negative-direction: DFC-supported sovereign wealth funds and parastatal entities (non-concern countries)
Critical minerals and rare earth mining companies, Critical minerals supply chain companies
Private equity and venture capital firms co-investing with DFC, U.S. private sector investors in emerging markets
High-income allied countries seeking U.S. development investment
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_president"
- → President of the United States
- "the_corporation"
- → United States International Development Finance Corporation (DFC)
- "the_president"
- → President of the United States
- "the_corporation"
- → United States International Development Finance Corporation (DFC)
- "chief_executive_officer"
- → CEO of the DFC
- "the_corporation"
- → United States International Development Finance Corporation (DFC)
- "the_board"
- → Board of Directors of the DFC
- "the_corporation"
- → United States International Development Finance Corporation (DFC)
Key Definitions
Terms defined in this bill
A country with a high-income economy as defined by the World Bank (IBRD and IDA).
Any enterprise established for commercial or business purpose directly owned or controlled by one or more governments at any level of jurisdiction.
Venezuela, Cuba, North Korea, Iran, China, Russia, and Belarus - barred from receiving DFC support.
The power by any means to control an enterprise regardless of ownership level or whether power is exercised.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology