Congressman Francis Rooney’s statement on the BUILD Act of 2018
Washington, D.C.- Today, Congressman Francis Rooney, Vice-Chairman of the House Foreign Affairs Committee, issued the following statement on the bipartisan Better Utilization of Investments Leading to Development (BUILD) Act of 2018.
Congressman Rooney stated, “As a former United States Ambassador to the Holy See, I understand the important role soft power diplomacy, including our foreign assistance programs, plays in resolving problems and advancing United States’ strategic interests around the world. It is imperative that our foreign aid be efficient and rigorously aligned with our priorities.
“Accordingly, I am co-sponsoring the BUILD Act, which will modify our foreign aid programs to ensure better use of funds, eliminate duplicative efforts, and increase our leverage of the private sector. These reforms will generate economic development, and promote stability and security abroad.
“This week I chaired a meeting between USAID Director Mark Green and members of the House Foreign Affairs Committee where we discussed various opportunities and challenges facing our foreign assistance programs at present. The BUILD Act received a warm reception and I look forward to working with my colleagues on the committee to implement these concepts.”
The BUILD act would streamline various United States international development programs by combining them under a newly created U.S. International Development Finance Corporation (IDFC). The integrated, coordinated approach it offers will increase efficiency and private sector participation in assistance programs which is especially important as we seek to counter China’s global mercantilist aggression.