Thursday
January 10
2019

Viewpoint: Secure the Caribbean — with a modest addition to the BUILD Act

By Andrea Clabough and David L. Goldwyn

As Venezuela declines, and the Caribbean struggles to achieve energy security, China and other nations are stepping up to become key players in the region. The United States, however, has inadvertently handicapped itself from using its newest landmark development mechanism to support its regional partners in the Caribbean.

In October 2018, the US Congress took a major step forward in enhancing U.S. international development assistance when it passed the Better Utilization of Investments Leading to Development Act of 2018, better known as the BUILD Act. The BUILD Act allocates $60 billion in funding to facilitate and de-risk private investment in low-income developing countries in support of both global development and US strategic objectives.

Photo courtesy of Chris Ford.

Source: The Hill (link opens in a new window)

Tags
development finance, global development, LMICs