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Mon, December 9, 2024
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[ 08:00 PM ] - USA Today
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[ 07:20 PM ] - clickondetroit.com
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[ 07:00 PM ] - Click2Houston
Five years since its inception, a US development agency competes with China on global projects

Five years since its inception, a US development agency competes with China on global projects


Published on 2024-12-09 19:00:56 - Click2Houston
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  • Since its inception in 2019, a U.S. development agency has created a portfolio of more than $50 billion worth of projects in 114 countries, including a trans-Africa railway corridor, a power plant in Sierra Leone,

The article from Click2Houston discusses the U.S. International Development Finance Corporation (DFC), which was established five years ago to counter China's Belt and Road Initiative by providing an alternative for infrastructure development in low- and middle-income countries. The DFC has committed over $40 billion in investments, focusing on projects that promote economic development, energy security, and critical infrastructure. It aims to offer transparent, sustainable, and high-standard investments, contrasting with what the U.S. perceives as China's less transparent and potentially debt-trapping loans. The article highlights several key projects, including a solar power plant in Angola, a port in Sri Lanka, and a natural gas project in Mozambique, illustrating the DFC's strategy to foster economic growth while adhering to environmental and governance standards. The DFC's efforts are part of a broader geopolitical strategy to enhance U.S. influence and provide a competitive alternative to China's global infrastructure initiatives.

Read the Full Click2Houston Article at:
[ https://www.click2houston.com/news/politics/2024/12/09/five-years-since-its-inception-a-us-development-agency-competes-with-china-on-global-projects/ ]
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