DFC CEO Ben Black Discusses Economic Statecraft During Hill & Valley Forum

WASHINGTON, D.C. - U.S. International Development Finance Corporation CEO Ben Black today discussed DFC's role in U.S. economic statecraft during a Hill & Valley Forum panel entitled "The New Arsenal of Influence: Economic Statecraft in a Competitive World." The panel was moderated by Christian Garrett, Partner at 137 Ventures. Joining CEO Black on the panel was Jacob Helberg, Under Secretary of State for Economic Affairs.

On DFC's role in economic statecraft:

"The focus of economic statecraft is to pursue America's strategic interests through economics and investing... One, we want a profitable return on capital. We're not giving away money - we're making a profit on these investments. Two, we are creating opportunities for American investors, American workers, and American businesses. And three, we are unlocking and strengthening supply chains and cutting out bottlenecks. This is really important, because American prosperity is the engine of global goodwill, security, and growth."

On countering China's Belt and Road Initiative:

"DFC just got reauthorized for $205 billion, which is an enormous amount of money, more than three times what it was before. But when you put that next to Belt and Road's $1.5 trillion plus, it pales in comparison. But you don't want to compete against state capitalism with more money from the government. You want to create capital structures that bring in private capital and allow real markets to flourish and grow."

On the importance of working with allies:

"Our economic allies are so incredibly important. They invest a huge amount into the United States already - they work on U.S. systems, they dollarize alongside us, and I think that's only going to increase. You're seeing it more in the Western Hemisphere, where it's been a big focus for the administration... Our Gulf allies are also really focused on this... as well as Central Asia - we have been engaged there a lot. They are leaning very much towards the United States, they've been fantastic allies, and there's a lot of investment opportunity there. You also see this in north and sub-Saharan Africa. The next three years are going to be incredibly exciting."

These remarks have been lightly edited for clarity.

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The U.S. International Development Finance Corporation (DFC), established in 2019 with bipartisan support under President Trump, is the international investment arm of the U.S. Government. DFC partners with the private sector to advance U.S. foreign policy and strengthen national security by mobilizing private capital around the world. DFC invests across strategic sectors including critical minerals, modern infrastructure, and advanced technology - fostering economic development, supporting U.S. interests, and delivering returns to American taxpayers.