Delegation of Functions and Authorities Under the Better Utilization of Investments Leading to Development Act of 2018

This memorandum delegates presidential authority under the BUILD Act of 2018 to the President of OPIC (Overseas Private Investment Corporation), requiring consultation with the USAID Administrator, to submit and modify a reorganization plan and consult with congressional committees. The BUILD Act established the U.S. International Development Finance Corporation (DFC) to replace OPIC.

Federal Register Open PDF 84 FR 52353

Impact dates

Date TBD
Reorganization plan submission and congressional consultation (implied by BUILD Act statutory timeline)

Key directives

Delegate to OPIC President the authority to submit reorganization plan under BUILD Act
Require OPIC President to consult with USAID Administrator on plan and modifications
Require consultation with appropriate congressional committees on plan and modifications
Authorize and direct publication of memorandum in Federal Register

Who is ordered

Timeline

Immediate

Delegation of authority takes effect upon signing
OPIC President authorized to publish memorandum in Federal Register

Near term (90d)

OPIC President to prepare and submit reorganization plan to Congress with USAID Administrator consultation

Long term

Implementation of BUILD Act reorganization creating DFC
Ongoing congressional consultation on plan modifications

Risks & tensions

Dual-actor delegation creates potential coordination friction between OPIC President and USAID Administrator
Statutory deadline for reorganization plan not specified in memorandum text; BUILD Act may contain separate timeline
Transition from OPIC to DFC involves significant institutional restructuring with implementation risks