22 U.S.C. § 9655 — Engagement with investors

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-