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This bill authorizes the U.S. International Development Finance Corporation (DFC) to provide support to high-income economy countries for developing or processing certain critical materials (such as aluminum, chromium, and rare earth elements). The support must further U.S. national security interests. For the purposes of this support, a high-income economy country is one classified as such by the International Bank for Reconstruction and Development and the International Development Association (two World Bank Group institutions). Under current law, the DFC generally prioritizes facilitating private investment in less-developed countries and countries transitioning to market economies to advance U.S. foreign policy interests.
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