WASHINGTON (Reuters) – U.S. government financing for projects to return critical supply chains to the United States as part of coronavirus response efforts could reach tens of billions of dollars and clients may include a projected $12 billion Taiwanese semiconductor plant, the head of the agency managing the funds told Reuters.

FILE PHOTO: Adam Boehler, the CEO of the U.S. International Development Finance Corporation, addresses the daily coronavirus task force briefing in the Rose Garden at the White House in Washington, U.S., April 14, 2020. REUTERS/Leah Millis

The U.S. International Development Finance Corp is talking to companies about reshoring the manufacturing of personal protective equipment, generic drugs and pharmaceutical ingredients, DFC Chief Executive Adam Boehler said in an interview on Monday.

Boehler said letters of understanding for some initial projects could be signed within the next month. The Trump administration has been pushing here for U.S. companies and importers to move manufacturing out of China.

The agency, which opened its doors in January to boost U.S. overseas development financing efforts to counter China’s massive Belt and Road infrastructure drive, was drafted into domestic service in May, after President Donald Trump signed an executive order here under the Defense Production Act.

DFC and the Defense Department agree

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