US sets up agency for development in Africa [The Morning Call]

Washington has set up an agency dedicated to renewed efforts aimed at contributing to the development of the African continent. Created under the ‘Build Act’, the US Senate approved the act with a majority vote of 93 to 6.
Now, this has been described by some analysts as the US response to China’s growing influence in Africa, especially since the act would see the creation of a financial institution- International Development Finance Corporation (IDFC).

So, what does the ‘Build Act’ entail? When does it commence and of what impact would it make? Dante Alighieri Disparte is the founder and CEO of Risk Cooperative based in Washington DC USA.