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Washington, D.C. — Yesterday, House Foreign Affairs Committee Chairman Michael McCaul questioned Scott Nathan, Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), on the DFC’s efforts to counter the Chinese Communist Party’s Belt and Road Initiative, including the need for reforms and updates as the committee works to reauthorize the DFC. 


– Highlights from the Chairman’s exchange –

Chairman McCaul: “First let me say you have a big job, I think, to counter primarily our adversaries. I know in 2018 we passed the Build Act, developing the [U.S. International Development Finance Corporation], with an eye towards countering the Belt and Road Initiative…”

Scott Nathan: “I know there’s been some legislation proposed…There’s a great bang for the buck for the U.S. taxpayer in that somewhere in between dollar for dollar and the kind of high leverage ratio on the rest of our portfolio has got to be the solution that will gives us a lot more opportunity to make a difference with equity early in project to have influence, to be more forward leaning on risk, and really make the kind of impact Congress intended.”