Trump Team Has Wealth-Fund Ambitions for Small Lending Agency
- DFC seen as potential vehicle for Greenland, Panama deals
- Goal is to catalyze wave of Wall Street capital to rival China
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Donald Trump pledged to create “the greatest sovereign wealth fund of them all.” His advisers think one way to do it is a government agency they bet can help mobilize hundreds of billions from Wall Street.
Plans discussed for the US International Development Finance Corp. include how it could use investments to deliver on Trump’s ambitions for greater US influence over Greenland and Panama. Backers say the agency, which stands to get as much as $120 billion in capital of its own, will be able to trigger far larger geopolitically driven overseas commitments by some of America’s most powerful institutional investors.