WASHINGTON – The U.S. International Development Finance Corporation (DFC) has been reauthorized and expanded as Title LXXXVII of the National Defense Authorization Act for Fiscal Year 2026 (S. 1071).

Created with strong bipartisan support in 2018, the DFC is a best-in-class bilateral development finance agency that mobilizes private sector investment in developing countries by providing loans and other support that help businesses start projects that traditional banks won’t fund or insure. Through a rigorous, competitive process that prioritizes development impact, the DFC selects projects that support partner priorities and U.S. interests in key sectors, including Infrastructure and Critical Minerals; Energy; Food Security and Agriculture; Health; and Small Business and Financial Services. DFC currently has a $49 billion portfolio of active investments in 114 countries, with Africa as its largest market.

“As the Administration shifts from a grant based to an investment led development framework, the DFC is a critical tool for ensuring U.S. leadership and engagement around the world in the wake of reductions to other development assistance. The increase in the lending cap ensures that adequate resources will be available for the expanded role DFC is poised to play in the U.S. foreign policy toolkit. The reauthorization maintains DFC’s development focus and triples the resources available for use in developing countries. However, Congress needs to play a critical oversight role to ensure that resources in developing countries are directed toward projects that fulfill development objectives and focus on underserved and marginalized populations and that any investments in high-income countries do not crowd out private investment,” said Elizabeth Hoffman, ONE Executive Director of North America.

The ONE Campaign played a key role in the passage of the BUILD Act, which established the DFC in 2018. Throughout the reauthorization process, ONE worked to ensure that the DFC maintains its core development focus, increases transparency and accountability, and grows the resources available for developing countries while providing for bounded flexibility for investments in higher income countries. The reauthorization text expands DFC’s maximum contingent liability from $60 billion to $205 billion and allows it to use up to 10 percent of that amount for strategic projects in high-income countries.

About ONE:

ONE is a global, nonpartisan organization advocating for the investments needed to create economic opportunities and healthier lives in Africa. Since 2004, we have helped secure more than $1 trillion in new investments that build a safer, more prosperous world. Our trusted advocacy combines hard-hitting data, grassroots activism and political engagement to influence decision-makers and drive lasting change.