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The Aligning Development and Competition Act of 2024 amends the BUILD Act to reorient the U.S. International Development Finance Corporation (USIDFC) toward national security and strategic competition objectives. The bill requires annual transparency reports on potential conflicts of interest within the Development Advisory Council, adds the Secretary of Defense to the USIDFC Board of Directors, and establishes a new Strategic Advisory Council focused on national security and foreign policy. It also prioritizes USIDFC support for projects advancing U.S. strategic interests against rival nations—particularly in port, transportation, digital, and critical minerals infrastructure—and allows the President to waive certain eligibility requirements for projects deemed vital to national security.
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