22 U.S.C. § 9654 — Publicly available project information

Page 2283 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9654 1 So in original. Probably should be ‘‘departments’’. projects supported by the Corporation under subchapter II of this chapter and to guide future projects of the Corporation. (b) Considerations In developing the performance measurement system required by subsection (a), the Corpora- tion shall— (1) develop a successor for the development impact measurement system of the Overseas Private Investment Corporation (as such sys- tem was in effect on the day before October 5, 2018); (2) develop a mechanism for ensuring that support provided by the Corporation under subchapter II of this chapter is in addition to private investment; (3) develop standards for, and a method for ensuring, appropriate financial performance of the Corporation’s portfolio; and (4) develop standards for, and a method for ensuring, appropriate development perform- ance of the Corporation’s portfolio, includ- ing— (A) measurement of the projected and ex post development impact of a project; and (B) the information necessary to comply with section 9653 of this title. (c) Public availability of certain information The Corporation shall make available to the public on a regular basis information about sup- port provided by the Corporation under sub- chapter II of this chapter and performance metrics about such support on a country-by- country basis. (d) Consultation In developing the performance measurement system required by subsection (a), the Corpora- tion shall consult with the Development Advi- sory Council established under section 9613(i) of this title and other stakeholders and interested parties engaged in sustainable economic growth and development. (Pub. L. 115–254, div. F, title IV, § 1442, Oct. 5, 2018, 132 Stat. 3504.) § 9653. Annual report (a) In general After the end of each fiscal year, the Corpora- tion shall submit to the appropriate congres- sional committees a complete and detailed re- port of its operations during that fiscal year, in- cluding an assessment of— (1) the economic and social development im- pact, including with respect to matters de- scribed in subsections (d), (e), and (f) of section 9651 of this title, of projects supported by the Corporation under subchapter II of this chap- ter; (2) the extent to which the operations of the Corporation complement or are compatible with the development assistance programs of the United States and qualifying sovereign en- tities; (3) the Corporation’s institutional linkages with other relevant United States Government department 1 and agencies, including efforts to strengthen such linkages; and (4) the compliance of projects supported by the Corporation under subchapter II of this chapter with human rights, environmental, labor, and social policies, or other such related policies that govern the Corporation’s support for projects, promulgated or otherwise admin- istered by the Corporation. (b) Elements Each annual report required by subsection (a) shall include analyses of the effects of projects supported by the Corporation under subchapter II of this chapter, including— (1) reviews and analyses of— (A) the desired development outcomes for projects and whether or not the Corporation is meeting the associated metrics, goals, and development objectives, including, to the ex- tent practicable, in the years after conclu- sion of projects; and (B) the effect of the Corporation’s support on access to capital and ways in which the Corporation is addressing identifiable mar- ket gaps or inefficiencies and what impact, if any, such support has on access to credit for a specific project, country, or sector; (2) an explanation of any partnership ar- rangement or cooperation with a qualifying sovereign entity in support of each project; (3) projections of— (A) development outcomes, and whether or not support for projects are meeting the as- sociated performance measures, both during the start-up phase and over the duration of the support, and to the extent practicable, measures of such development outcomes should be on a gender-disaggregated basis, such as changes in employment, access to fi- nancial services, enterprise development and growth, and composition of executive boards and senior leadership of enterprises receiv- ing support under subchapter II of this chap- ter; and (B) the value of private sector assets brought to bear relative to the amount of support provided by the Corporation and the value of any other public sector support; and (4) an assessment of the extent to which les- sons learned from the monitoring and evalua- tion activities of the Corporation, and from annual reports from previous years compiled by the Corporation, have been applied to projects. (Pub. L. 115–254, div. F, title IV, § 1443, Oct. 5, 2018, 132 Stat. 3505.) § 9654. Publicly available project information The Corporation shall— (1) maintain a user-friendly, publicly avail- able, machine-readable database with detailed project-level information, as appropriate and to the extent practicable, including a descrip- tion of the support provided by the Corpora- tion under subchapter II of this chapter, in- cluding, to the extent feasible, the informa- tion included in the report to Congress under section 9653 of this title and project-level per- formance metrics; and (2) include a clear link to information about each project supported by the Corporation Page 2284 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9655 under subchapter II of this chapter on the internet website of the Department of State, ‘‘ForeignAssistance.gov’’, or a successor website or other online publication. (Pub. L. 115–254, div. F, title IV, § 1444, Oct. 5, 2018, 132 Stat. 3506.) § 9655. Engagement with investors (a) In general The Corporation, acting through the Chief De- velopment Officer, shall, in cooperation with the Administrator of the United States Agency for International Development— (1) develop a strategic relationship with pri- vate sector entities focused at the nexus of business opportunities and development prior- ities; (2) engage such entities and reduce business risks primarily through direct transaction support and facilitating investment partner- ships; (3) develop and support tools, approaches, and intermediaries that can mobilize private finance at scale in the developing world; (4) pursue highly developmental projects of all sizes, especially those that are small but designed for work in the most underdeveloped areas, including countries with chronic suf- fering as a result of extreme poverty, fragile institutions, or a history of violence; and (5) pursue projects consistent with the policy of the United States described in section 9611 of this title and the Joint Strategic Plan and the Mission Country Development Cooperation Strategies of the United States Agency for International Development. (b) Assistance To achieve the goals described in subsection (a), the Corporation shall— (1) develop risk mitigation tools; (2) provide transaction structuring support for blended finance models; (3) support intermediaries linking capital supply and demand; (4) coordinate with other Federal agencies to support or accelerate transactions; (5) convene financial, donor, civil society, and public sector partners around opportuni- ties for private finance within development priorities; (6) offer strategic planning and programming assistance to catalyze investment into pri- ority sectors; (7) provide transaction structuring support; (8) deliver training and knowledge manage- ment tools for engaging private investors; (9) partner with private sector entities that provide access to capital and expertise; and (10) identify and screen new investment partners. (c) Technical assistance The Corporation shall coordinate with the United States Agency for International Develop- ment and other agencies and departments, as necessary, on projects and programs supported by the Corporation that include technical assist- ance. (Pub. L. 115–254, div. F, title IV, § 1445, Oct. 5, 2018, 132 Stat. 3506.) § 9656. Notifications to be provided by the Cor- poration (a) In general Not later than 15 days prior to the Corporation making a financial commitment associated with the provision of support under subchapter II of this title in an amount in excess of $10,000,000, the Chief Executive Officer of the Corporation shall submit to the appropriate congressional committees a report in writing that contains the information required by subsection (b). (b) Information required The information required by this subsection includes— (1) the amount of each such financial com- mitment; (2) an identification of the recipient or bene- ficiary; and (3) a description of the project, activity, or asset and the development goal or purpose to be achieved by providing support by the Cor- poration. (c) Bilateral agreements The Chief Executive Officer of the Corporation shall notify the appropriate congressional com- mittees not later than 30 days after entering into a new bilateral agreement described in sec- tion 9631(a) of this title. (Pub. L. 115–254, div. F, title IV, § 1446, Oct. 5, 2018, 132 Stat. 3507.) SUBCHAPTER V—CONDITIONS, RESTRICTIONS, AND PROHIBITIONS § 9671. Limitations and preferences (a) Limitation on support for single entity No entity receiving support from the Corpora- tion under subchapter II of this chapter may re- ceive more than an amount equal to 5 percent of the Corporation’s maximum contingent liability authorized under section 9633 of this title. (b) Preference for support for projects sponsored by United States persons (1) In general The Corporation should give preferential consideration to projects sponsored by or in- volving private sector entities that are United States persons. (2) United States person defined In this subsection, the term ‘‘United States person’’ means— (A) a United States citizen; or (B) an entity owned or controlled by an in- dividual or individuals described in subpara- graph (A). (c) Preference for support in countries in compli- ance with international trade obligations (1) Consultations with United States Trade Representative Not less frequently than annually, the Cor- poration shall consult with the United States Trade Representative with respect to the sta- tus of countries eligible to receive support from the Corporation under subchapter II of this chapter and the compliance of those coun-