CONGRESS FOR VOTERS

Jeanne Shaheen (D-NH)

To modify and reauthorize the Better Utilization of Investments Leading to Development Act of 2018.

S.Amdt. 3826 · Senate amendment to an amendment

A Democratic amendment with 1 Republican cosponsor · See the cosponsor

Changes S.Amdt. 3748, an amendment to S. 2296 — National Defense Authorization Act for Fiscal Year 2026

Last activity — Amendment SA 3826 agreed to in Senate by Voice Vote.

Adopted

The Senate agreed to this amendment, so its changes are part of the bill from here on.

Its path through Congress

  1. Introduced
  2. Passed Senate
  3. Adopted

What this amendment would do

This amendment, known as the DFC Modernization and Reauthorization Act of 2025, aims to update and extend the authorities of the Development Finance Corporation (DFC). Its primary purpose is to refine how the Corporation provides financial support to foreign countries, increase oversight, and restructure its management to better align with United States national security and foreign policy goals.

Key Changes and Additions:

  • Investment Focus and Restrictions:

    • It establishes a priority for support in less developed countries.
    • It creates strict rules and certification requirements for providing support to advancing income and high-income countries.
    • It prohibits support for projects in countries of concern, which include Venezuela, Cuba, North Korea, Iran, China, the Russian Federation, and Belarus (unless a presidential waiver is granted for national security).

  • Management and Oversight:

    • Adds a Chief Strategic Investment Officer to handle national security and foreign policy matters.
    • Requires the Board of Directors to comply with the Government in the Sunshine Act and hold at least two public hearings annually.
    • Establishes a Congressional Strategic Advisory Group to allow the Senate and House to provide advice on strategic priorities.
    • Creates a Biennial Strategic Priorities Plan to guide investments in important regions and sectors.

  • Financial Authorities:

    • Establishes a Corporate Equity Investment Account with $3 billion authorized for fiscal years 2026 through 2030.
    • Increases the maximum contingent liability of the Corporation to $200 billion.
    • Extends the termination date of the Corporation's authorities to December 31, 2031.

  • Accountability and Transparency:

    • Introduces the Impact Quotient, a metrics-based system to measure the development impact of projects.
    • Requires a user-friendly, public database of project-level information.
    • Sets new standards to prevent usurious or abusive lending by intermediaries.
    • Mandates the creation of a student internship program and a report on development finance education for the Foreign Service Institute.