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

Published July 15, 2026 5:00am ET | Updated July 16, 2026 1:18pm ET



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 Chinese Communist Party’s campaign to bolster geopolitical power through infrastructure investments in places such as Africa and Central Asia.

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