The Better Utilization of Investments Leading to Development Act (BUILD) Act (S. 2463), Sponsored by Senator Bob Corker (R-TN), is an innovative way of putting Private-Sector Dollars to work in Developing Countries Building Infrastructure, Creating First-Time Access to Electricity, Starting Businesses, Creating Jobs, and ultimately Reducing the Need for American Foreign Aid.
The BUILD Act would Fast-Track the Modernization of America’s Engagement in Developing Countries, shifting even closer to Real Partnership, while reforming Federal Government Programs to make them more Efficient.
The BUILD Act would Work in Three Key ways:
- It Merges an Existing Federal Agency and several other Existing Programs into a New Development Finance Corporation (DFC) to Support Private Investment in Projects that will help People in Fragile and Developing Countries.
- It gives that Agency New Tools to Better Engage Entrepreneurs and Investors.
- It Raises the Limit on how much Money the Government can use to Back these Private Sector Ventures.
That’ll mean more Loans, Grants, and other Guarantees for Projects that will make a Difference for People Living in Extreme Poverty.
Less Developed Countries struggle to Attract the Investors needed to create Jobs and Generate Economic Growth. To take advantage of this Challenge and Opportunity, the U.S. needs to encourage the Private Sector to Invest in Developing Countries and help them Build on effective Foreign Assistance programs and Grow their way out of Poverty. Effectively, the Act will help bring Tens of Billions of Dollars in Private Sector Investment into the Fight against Extreme Poverty.
CLICK HERE for more information on how the ONE Organization, I am a Member, is supporting the BUILD Act.
NYC Wins When Everyone Can Vote! Michael H. Drucker