S.Amdt. 3658

The DFC Modernization and Reauthorization Act of 2025 is an amendment to bill S. 2296. Its purpose is to update and expand the operations, management, and funding of the Corporation.

Key Changes and Additions:

• Investment Focus and Restrictions: It establishes new definitions for country income levels (less developed, advancing income, and high-income) and creates a list of "countries of concern," including China, Russia, Iran, North Korea, Cuba, Venezuela, and Belarus. The Corporation is prohibited from providing support to projects in these countries of concern.

• Management Structure: The amendment adds a Chief Strategic Investment Officer to the leadership team and updates the duties of the Chief Risk Officer and Chief Development Officer. It also mandates that Board meetings comply with the Government in the Sunshine Act and requires at least two public hearings per year.

• Congressional Oversight: It establishes a Congressional Strategic Advisory Group to provide views on strategic priorities and requires the Chief Executive Officer to develop a Biennial Strategic Priorities Plan.

• Financial Authorities:

  • It establishes the Development Finance Corporate Equity Investment Fund with an authorized appropriation of $3 billion for fiscal years 2026 through 2030.
  • It allows for project development grants up to $1,000,000 for small borrowers.
  • It increases the maximum contingent liability of the Corporation to $240 billion.

• Accountability and Transparency: The amendment creates an Impact Quotient to measure project outcomes and requires more detailed annual reporting on portfolio health and the mobilization of private capital. It also mandates a publicly available, machine-readable database of project information.