WORLD_ The federal agency you’ve never heard of ripping up and replacing Chinese investments around the world ( Timothy Nerozzi - WASHINGTON EXAMINER )

WASHINGTON EXAMINER

The federal agency you’ve never heard of ripping up and replacing Chinese investments around the world

By Timothy Nerozzi
Published July 15, 2026 5:00am ET

VIDEO

The U.S. International Development Finance Corporation is a federal agency with a nondescript, perhaps even boring, name, but officials are pitching themselves to the American people as the “coolest and best government agency that you’ve never heard of.”

Founded by President Donald Trump during his first administration, the DFC was established to “combat and serve as a bulwark against” China’s Belt and Road Initiative — the CCP’s campaign to bolster geopolitical power through infrastructure investments in places such as Africa and Central Asia.

“Belt and Road — and its Digital Silk Road — is in 146 different countries. So I think there’s a lot of territory to cover,” DFC CEO Ben Black, who is set to testify in front of the House foreign affairs committee Wednesday, told the Washington Examiner during an interview.

President Donald Trump and Vice President JD Vance hold a swearing-in ceremony for Ben Black, CEO of the U.S. International Development Finance Corporation, and John Jovanovic, chairman of Exim Bank, on Friday, December 12, 2025. (Official White House photo by Daniel Torok, provided by U.S. International Development Finance Corporation)

The agency’s strategy is straightforward. Officials investigate and scrutinize private investment opportunities in areas of interest around the globe. When they identify a project that looks like it could turn a profit while edifying U.S. soft power in that area, they search for local partners to make it happen and invest.

“We are for-profit, so our deals have to make money, and we bring in local partners to do just that,” Black said. “There is a lot in Africa who do that. I’d also say we’re really leaning into Central Asia, which has been territory that we’ve let go unnoticed and untouched for a long time, and there’s a lot of interest to work with us there and a lot of desire to lean into the United States.”

The DFC has poured money into projects ranging from Brazilian mining deals to a maritime reinsurance plan in the Strait of Hormuz.

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READ MORE: https://www.washingtonexaminer.com/news/world/4644066/international-development-finance-corporation-china-bri/

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