US agency goes back to the future to take on China’s Belt and Road Initiative
The US agency set up to counter China’s Belt and Road Initiative is blending national security with development finance to try to secure a critical minerals supply chain, according to analysts and officials. Created in 2019 during President Donald Trump’s first administration, the US International Development Finance Corporation (DFC) puts its money into private-led projects rather than those led by the state, as is often the case with China. The agency operates in more than
The U.S. International Development Finance Corporation (DFC), established in 2019, is employing a strategy that merges national security objectives with development finance. This approach is aimed at bolstering the United States' critical minerals supply chain. The DFC primarily invests in private sector-led initiatives, distinguishing its model from state-backed projects often associated with China's Belt and Road Initiative. Operating in over 100 nations, the agency seeks to counter China's growing global economic influence.
This initiative matters as it represents a strategic U.S. effort to secure vital resources and compete with China's extensive global infrastructure development plan.
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