DFC CEO Ben Black Discusses How DFC Is Investing in America’s Future

WASHINGTON - U.S. International Development Finance Corporation (DFC) CEO Ben Black today spoke at a Heritage Foundation event titled "Investing in America's Future: Economic Statecraft in an Age of Global Competition." The conversation was moderated by Heritage President Dr. Kevin Roberts.

On DFC's mandate under the Trump administration:

"In this era of increasing global competition, President Trump has tasked DFC with a critical mandate: DFC investments must deliver for the American people and serve as a powerful tool for strengthening the economic security of both the United States and our allies and partners."

"DFC will directly challenge our adversaries in the most strategically contested sectors by financing transactions that diplomacy and private markets alone cannot deliver... DFC will prioritize large, capital-intensive projects that are vital to U.S. strategic interests and highly transformative for our partners... And DFC will mobilize private capital through sophisticated financial structures that reduce risk for investors and create enduring American influence in critical sectors and regions."

On the importance of bringing private capital alongside DFC investments:

"Across all priority sectors, DFC's financial products are uniquely suited to reducing investment risk and crowding in pools of private capital that dwarf our own balance sheet. It's what distinguishes DFC's approach from our adversaries and the ineffective models of the past. Chinese investments often lack independent private sector participation and the price signals and risk discipline that make projects truly commercially viable."

"State capital acting alone can never build dynamic markets the way that private capital can. Our global partners want to work with us because our model is better... The American free-market system is the engine that drives strength, growth, and goodwill around the world. It's our greatest export and our greatest advantage."

On advancing U.S. Super Intelligence dominance:

"America has the best technology in the world and is winning the race for Super Intelligence, but the American SI stack cannot be exported to networks compromised by our adversaries. Last month, we approved an investment with Vodafone in Eastern Europe to modernize their networks and accelerate the replacement of Chinese telecommunications equipment, ensuring that when American companies operate abroad, their intellectual property and the information they transmit remains safe and secure."

"These telecom deals are challenging for our partners, who face immense pressure and threats of economic retaliation when attempting to diversify ownership of their networks. That is why we are committed to helping others adopt this model, especially in the Western Hemisphere, where China's Digital Silk Road cannot be allowed to entrench its influence."

On building energy infrastructure that advances U.S. strategic objectives:

"Under President Trump's leadership, the U.S. is the world's largest producer of both oil and natural gas. Across the world, we see significant opportunities to build energy infrastructure that advances U.S. strategic objectives and provides reliable, affordable energy for our allies and partners."

"In June, DFC's Board approved $1.5 billion for energy infrastructure across South and Southeast Asia, ensuring U.S. LNG and American equipment help power the growing energy needs of a region long dominated by our adversaries."

These remarks have been lightly edited for clarity. You can watch the full event on Heritage's YouTube page here.

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The U.S. International Development Finance Corporation (DFC) is the international investment arm of the United States Government and central to U.S. economic statecraft. DFC mobilizes private capital to advance U.S. foreign policy and economic development. Our investments deliver strong returns for American taxpayers, drive meaningful economic development for our allies and partners, and secure supply chains to counter and outcompete our adversaries.