Trump’s DFC Nominee Highlights Key Objectives for U.S. Development Finance

June 11, 2025 - 04:52

Benjamin Black, Trump’s nominee to lead the U.S. International Development Finance Corporation (DFC), testified Tuesday before the Senate Foreign Relations Committee regarding his vision for the agency's future. During his testimony, Black emphasized the importance of the DFC's "dual mandate," which focuses on both advancing U.S. foreign policy interests and promoting private sector investment in developing countries.

Black articulated how the DFC can play a crucial role in fostering economic growth and stability in regions that require financial support. He underscored the necessity of leveraging U.S. resources to attract private capital, thereby enhancing job creation and infrastructure development in underserved areas. Furthermore, Black addressed the challenges the DFC faces in an increasingly competitive global environment, particularly from state-backed entities in other countries.

If confirmed, Black aims to strengthen partnerships between the DFC and various stakeholders, including private investors and international organizations, to maximize the agency's impact on global development. His testimony reflects a commitment to aligning the DFC's objectives with broader U.S. strategic interests while fostering sustainable economic growth in developing nations.