The Foreign Service Journal, April 2019

12 APRIL 2019 | THE FOREIGN SERVICE JOURNAL A MESSAGE FROM THE HILL BUILDing Better Development Financing BY REPRESENTAT I VE TED YOHO was honored to be asked to write an article for the American Foreign Service Association’s magazine, whose readership is made up of a prestigious group of Americans whose work has a serious impact around the globe. To all current and former Foreign Service pro- fessionals, I thank you for your service and dedication to our country. You are on the front lines in more than 270 U.S. embassies, consulates and various posts around the world. It is safe to say that most Americans do not real- ize or fully understand the importance of your work in assisting other coun- tries, problem-solving and promoting the United States’ interests around the world—while also improving conditions in the countries in which you serve. As diplomats and development specialists, you understand the role soft power— especially foreign assistance programs— plays in remedying issues and advancing our nation’s interests overseas. When I was first elected to Congress in 2012, I must admit, I was one of those who didn’t fully appreciate the scope of our Foreign Service community. Soon after my arrival on Capitol Hill, I was fortunate to be named a member of the House Foreign Affairs Committee, which provided me the opportunity to learn Representative Ted Yoho (R-Fla.) is a member of the House Committee on Foreign Affairs and lead Republican of the HFAC Subcom- mittee on Asia, the Pacific and Nonprolifera- tion. He is also a member of the Committee on Agriculture. I more about this very important compo- nent of our national security apparatus. When I first arrived, it was no secret that I was in favor of eliminating all foreign aid. I had long been skeptical of how U.S. taxpayer dollars were spent overseas, having heard countless stories of America’s generosity being rewarded by wasteful projects and corrupt foreign bureaucrats enriching themselves at the expense of the U.S. taxpayer and robbing their own citizens of those intended benefits. However, the more hearings I attended, testimonies I heard and experts I spoke to, the more my views on foreign assistance changed. I developed a deeper understanding of how aid could be an important tool in maintain- ing American leadership while creating strong allies in a complicated and unpre- dictable world. As my views evolved, I better understood the effectiveness and importance of U.S. foreign aid. In par- ticular, that if it is used properly, it could transition countries from “aid to trade.” Evaluating the way our foreign aid is implemented, I noticed there was plenty of room for improvement. It was imperative that we elevate America’s global competitiveness, reform our anti- quated programs and bring development finance into the 21st century. That is what led our team to introduce The Better Utilization of Investments Leading to Development (BUILD) Act, which was signed into law last year. I believe this is the most important reform of U.S. foreign development programs in decades. The BUILD Act consolidates vari- ous federal development programs and agencies into one full-service, self- sustaining U.S. International Develop- ment Finance Corporation. Essentially, the IDFC combines the Overseas Private Investment Corporation and the U.S. I developed a deeper understanding of how aid could be an important tool in maintaining American leadership while creating strong allies in a complicated and unpredictable world.