Ideas to Action:

Independent research for global prosperity

CGD in the News

OBOR vs. USIDFC: America tracks the Chinese in Africa (Perspectives)

October 5, 2018

Note: Translated from French using Google Translate

By Perspectives 

From the article: 

The US Senate passed a text on October 3 creating the USIDFC, a new development finance institution. The agency is Donald Trump's response to the Chinese initiative "One Belt, One Road", while Xi Jinping announced early September $ 60 billion for the development of Africa.

"It is no exaggeration to say that this is the biggest step forward in US development policy since at least the creation of the Millennium Challenge Corporation in 2004 and the launch of PEPFAR [ President's Emergency Plan for AIDS]. Relief, ed] in 2003, "explain Todd Moss and Erin Collinson of the Center for Global Development.  

On October 3, Democratic and Republican senators, in a rare spirit of bipartisanship, adopted the BUILD Act, the law for a better use of investments leading to development, by a majority of 93 against 6. The BUILD Act merges several US government agencies into a new organization, the US International Development Finance Corporation (USIDFC) , with the power to grant $ 60 billion in funding.

Read the full article here

 

Related Experts

Director of Policy Outreach
Photo of Todd Moss
Non-Resident Fellow