China invests billions overseas to secure its future.
The U.S. invests billions too – through our Development Finance Corporation (DFC) – but with the brakes on.
Congress has only 8 weeks left to change that – before the agency expires. 🧵
The U.S. invests billions too – through our Development Finance Corporation (DFC) – but with the brakes on.
Congress has only 8 weeks left to change that – before the agency expires. 🧵
The DFC was built to compete with China – financing development projects abroad that also advance U.S. interests.
Think: biotech, solar manufacturing, critical minerals.
But it has the potential to do so much more.
Think: biotech, solar manufacturing, critical minerals.
But it has the potential to do so much more.
What's holding the DFC back?
- Fear of lawsuits for doing its job
- Bureaucratic red tape
- Culture of caution instead of competition
- Onerous restrictions on its operations & budget
- Fear of lawsuits for doing its job
- Bureaucratic red tape
- Culture of caution instead of competition
- Onerous restrictions on its operations & budget
To fix this, Congress could:
- Let the DFC operate wherever projects are strategic
- Create a safe harbor from some lawsuits
- Lift the portfolio cap to compete
- Treat equity + political risk insurance as potential return-earning assets
- Make the DFC permanent
- Let the DFC operate wherever projects are strategic
- Create a safe harbor from some lawsuits
- Lift the portfolio cap to compete
- Treat equity + political risk insurance as potential return-earning assets
- Make the DFC permanent
If the U.S. is serious about leading in the industries of the future, we need public institutions that move at the speed of ambition.
Congress’s DFC reauthorization is a moment to act.
Let’s bet big.
carnegieendowment.org/emissary/2025/…
Congress’s DFC reauthorization is a moment to act.
Let’s bet big.
carnegieendowment.org/emissary/2025/…
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