At a time of bitter partisanship, most members of the US House of Representatives, Republican and Democrat, agreed recently on one thing. In the face of hyperactive Chinese lending, America needs to upgrade the financing tools at its disposal if it is to maintain its influence in the developing world. A last hurdle now remains, the US Senate, before Washington can take an important step in that direction.

Legislation that will modernise and expand the role of the Overseas Private Investment Corporation, or Opic, the government development agency that handles private sector lending abroad, is due before the Senate. Long in the making, senators should push it through.

Opic has been in legislative limbo for years and only last year was facing the axe altogether. Its capacity to innovate has long been inhibited by ideological battles across the floor. Many Republicans traditionally opposed the use of taxpayers’ money to facilitate US business in developing countries. Some senators go further, arguing that President Donald Trump’s “America first” mantra — on display again on Tuesday at the UN General Assembly — should translate into roads and bridges in the US before a dime goes overseas.