Bill > HR5299

This bill modernizes the Better Utilization of Investments Leading to Development Act of 2018 by expanding the United States International Development Finance Corporation's (DFC) capabilities and strategic objectives. The bill increases the corporation's risk tolerance, allowing it to use more flexible financial tools like equity investments, partial guarantees, and first-loss coverage to mobilize private capital in high-risk countries. Key provisions include raising the maximum contingent liability from $60 billion to $250 billion, increasing the equity investment limit from 30% to 49%, and establishing an Equity Investments Account to retain earnings. The bill also emphasizes countering strategic competitors (particularly China) by supporting investments in critical sectors like infrastructure, minerals, and energy, especially in allied countries. Additionally, the bill modifies the corporation's governance by changing board composition, removing the Chief Development Officer position, and adding new restrictions on investments involving state-owned enterprises from "countries of concern" like China, Russia, and Iran. The legislation aims to advance U.S. foreign policy, national security, and economic development goals by providing an alternative to financing from strategic competitors and supporting private sector development in emerging markets.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/house-bill/5299/all-info