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The Infrastructure Cold War 

U.S. Development Finance Corporation CEO Scott Nathan testifying before the House Foreign Affairs Committee on may 8, 2024. Image via the House Foreign Affairs Committee.

This week, the U.S. House Foreign Affairs Committee heard testimony about foreign investments channeled by the Development Finance Corporation (DFC), an agency founded in the late Trump era and key to the implementation of the Partnership for Global Infrastructure and Investment (PGII), the Biden administration’s global infrastructure rollout scheme.

When it was founded, the agency’s then-CEO Adam Boehler said: “DFC has three objectives: first, to invest in highly impactful projects in developing countries; second, to advance U.S. foreign policy; and third, to continue our consistent track record of generating returns for the American taxpayer.”

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