The Consensus for Development Reform (CDR) is a platform of leading conservative and private sector voices for more effective U.S. global leadership through reforming and improving our approach to global development.
CDR is founded on the belief that America is a force for good in the world, and that reformed, more innovative, and more accountable foreign assistance will yield better results for those we help and will more faithfully serve U.S. national interests.
CDR’s participants are a select group of conservative thought-leaders and policy experts, including former members of Congress, senior Administration officials, and private sector leaders who share a common commitment to U.S. leadership in global development and improvement of our foreign assistance’s effectiveness.
CDR Praises Enactment of BUILD Act and Calls to Create New U.S. International Development Finance Corporation
October 9, 2018 (WASHINGTON) – This statement is delivered on behalf of the Consensus for Development Reform (CDR) by Co-Chairs Rob Mosbacher and Mark Dybul.
The Consensus for Development Reform congratulates Congress and the Administration for the enactment of the Better Utilization of Investments Leading to Development (BUILD) Act of 2018 (H.R. 5105/S. 2463). The BUILD Act authorizes the creation of a new International Development Finance Corporation (IDFC), which modernizes and enhances the international development finance tools of the U.S. government.
CDR has advocated for the creation of a development finance corporation for more than seven years, recognizing that advancements in global development have become increasingly reliant on the effective mobilization of private capital and that the Overseas Private Investment Corporation (OPIC) desperately needs to update and modernize its tools.
"Passage of the BUILD Act will dramatically strengthen the capacity of our government to fight poverty in the world through private capital investment and to collaborate with our allies to offer countries a path to prosperity by embracing entrepreneurship, innovation, and private enterprise. In the global marketplace of today, economic influence is an extraordinarily important soft power tool and the United States must redouble its efforts to compete with the Chinese and offer a more compelling narrative for growth. The BUILD Act will provide the tools necessary to compete more effectively and offer a more appealing alternative, built around entrepreneurial capitalism," said Rob Mosbacher, Co-Chair of CDR and former President and CEO of OPIC.
“Over the last two decades, the U.S. government has played a critical leadership role in global health, partnering with developing countries to dramatically improve health outcomes through initiatives such as the President’s Emergency Plan for AIDS Relief, the President’s Malaria Initiative, and the Global Fund to Fight AIDS, TB and Malaria. The passage of the BUILD Act and the strengthening of U.S. development finance capabilities will allow the U.S. to take on a greater leadership role in connecting increasingly healthy populations with the types of economic opportunities that put communities and countries on a path towards sustainable growth and stability,” said Ambassador Mark Dybul, Co-Chair of CDR and former Executive Director of the Global Fund and U.S. Global AIDS Coordinator.
CDR congratulates the bill sponsors, Senators Bob Corker (R-TN) and Chris Coons (D-DE), and Representatives Ted Yoho (R-FL) and Adam Smith (D-WA), for their continuing leadership in maximizing development impact. CDR also praises the Executive Branch for prioritizing the advancement of the Development Finance Corporation through the FY 2019 President's Budget Request and the 2017 National Security Strategy.