WATCH THIS SPACE: New U.S. Development Agency for High-Risk Investment in Developing Countries a Magnet for Fraud
Combine 60 billion U.S. dollars, newly authorized private investment, vulnerable foreign countries, and competition with Russia and China - What could go wrong? Amid the daily D.C. drama plaguing the fall of 2018, Congress quietly passed the Better Utilization of Investments Leading to Development (BUILD) Act to create a new U.S. development agency: the U.S. International Development Finance Corporation (IDFC). The Act is a shot in the arm for U.S.-backed...