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Aligning International Development Finance with US National Security Goals.

This Act mandates the US International Development Finance Corporation (USIDFC) to prioritize projects that advance core US national security interests, particularly in strategic competition, focusing on critical infrastructure and minerals. It enhances transparency regarding potential conflicts of interest among advisory council members and integrates the Secretary of Defense into the Corporation's Board. Citizens can expect public international development funds to be more closely tied to protecting US strategic interests.
Key points
International development funds must now prioritize projects vital to US security, such as port, rail, digital infrastructure, and critical minerals supply chains.
Increased transparency: USIDFC must report annually on potential conflicts of interest involving advisory council members who receive financial support from the Corporation.
The Secretary of Defense is added to the USIDFC Board of Directors to ensure investment decisions align with defense and national security objectives.
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Expired
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Additional Information
Print number: 118_S_5403
Sponsor: Sen. Romney, Mitt [R-UT]
Process start date: 2024-11-21
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Aligning Development and Competition Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5403.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-11-21.

What are the main provisions?

Key points include:

  • International development funds must now prioritize projects vital to US security, such as port, rail, digital infrastructure, and critical minerals supply chains.
  • Increased transparency: USIDFC must report annually on potential conflicts of interest involving advisory council members who receive financial support from the Corporation.
  • The Secretary of Defense is added to the USIDFC Board of Directors to ensure investment decisions align with defense and national security objectives.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Romney, Mitt [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Security Public Investments Economy