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Oct 14, 2018

U.S. president Donald Trump signed the Better Utilization of Investments Leading to Development, also known as the BUILD Act, into law on October 5th, creating a powerful new development finance organization that is aimed at challenging China’s dominance in lending to developing countries. The law combines two existing organizations, the United States Overseas Private Investment Corporation (OPIC) and USAID’s Development Credit Authority to a form a new entity called the International Development Finance Corporation (IDFC) with $60 billion in its coffers.
Washington, D.C.-based Africa analyst at the Atlantic Council and an avid IDFC supporter Aubrey Hruby joins Eric & Cobus to provide a high-level introduction to the IDFC and how its lending strategy will differ markedly from what the Chinese are doing in Africa and other emerging markets.
Join the discussion. Are you happy that the U.S. is now getting into the development finance game to provide a new financing alternative for African businesses? Or do you think it’s a bit “too little, too late” from the United States after the Trump administration’s questionable commitment to Africa (remember what he said about those s***hole countries and when he made up a country called “Nambia”?). Let us know what you think.
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