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U.S. Senator’s Widely-Held Misunderstanding of the U.S. Response to Chinese Development Financing in Africa

U.S. Senator Tim Kaine appearing in a 2020 Foreign Policy Association webinar. Image via FPA.

For some reason, the Foreign Policy Association last week published a 2020 clip of U.S. Senator Tim Kaine explaining how the U.S. planned to compete with China in development finance in Africa:

“We put in place in Congress the BUILD Act which tries to put together the U.S. assets that we would traditionally put into USAID, Overseas Private Investment Corporation (precursor to DFC), Exim Bank, amass a lot of the investments that we might make but do it in way to attract more NGOs and attract more private sector investment… I think [this approach] promotes entrepreneurship, economic development, not just subservience and reliance on the government that’s writing a big check.”

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