22 U.S.C. § 9601 — Definitions

Page 2270 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9564 oped country’’ have the meanings given those terms in section 9601 of this title. (Pub. L. 116–94, div. P, title XX, § 2004, Dec. 20, 2019, 133 Stat. 3223.) Editorial Notes REFERENCES IN TEXT The BUILD Act, referred to in subsec. (e), probably means the BUILD Act of 2018, also known as the Better Utilization of Investments Leading to Development Act of 2018, which is classified principally to chapter 103 (§ 9601 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 9601 of this title and Tables. CODIFICATION Section was enacted as part of the European Energy Security and Diversification Act of 2019, and also as part of the Further Consolidated Appropriations Act, 2020, and not as part of the Countering Russian Influ- ence in Europe and Eurasia Act of 2017 which comprises this chapter. Section is comprised of section 2004 of Pub. L. 116–94. Subsec. (d) of section 2004 of Pub. L. 116–94 amended sections 2421 and 9543 of this title. Executive Documents DELEGATION OF AUTHORITY UNDER THE EUROPEAN ENERGY SECURITY AND DIVERSIFICATION ACT OF 2019 Memorandum of President of the United States, June 8, 2022, 87 F.R. 35853, provided: Memorandum for the Secretary of State By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, I hereby delegate to the Secretary of State the functions and authorities vested in the President by section 2004(e)(1)(C) of the European Energy Security and Diversification Act of 2019 (22 U.S.C. 9563(e)(1)(C)) (the ‘‘Act’’). The delegation in this memorandum shall apply to any provision of any future public law that is the same or substantially the same as the provision ref- erenced in this memorandum. Any reference in this memorandum to the Act shall be deemed to be a ref- erence to such Act as amended from time to time. You are authorized and directed to publish this memorandum in the Federal Register. J.R. BIDEN, JR. § 9564. Progress reports Not later than one year after December 20, 2019, and annually thereafter, the President shall submit to the Committee on Foreign Rela- tions of the Senate and the Committee on For- eign Affairs of the House of Representatives a report on progress made in providing assistance for projects under section 9563 of this title that includes— (1) a description of the energy infrastructure projects the United States has identified for such assistance; and (2) for each such project— (A) a description of the role of the United States in the project, including in early- stage project support and late-stage project support; (B) the amount and form of any debt fi- nancing and insurance provided by the United States Government for the project; (C) the amount and form of any early- stage project support; and (D) an update on the progress made on the project as of the date of the report. (Pub. L. 116–94, div. P, title XX, § 2005, Dec. 20, 2019, 133 Stat. 3226.) Editorial Notes CODIFICATION Section was enacted as part of the European Energy Security and Diversification Act of 2019, and also as part of the Further Consolidated Appropriations Act, 2020, and not as part of the Countering Russian Influ- ence in Europe and Eurasia Act of 2017 which comprises this chapter. CHAPTER 103—BETTER UTILIZATION OF INVESTMENTS LEADING TO DEVELOPMENT Sec. 9601. Definitions. SUBCHAPTER I—ESTABLISHMENT 9611. Statement of policy. 9612. United States International Development Fi- nance Corporation. 9613. Management of Corporation. 9614. Independent accountability mechanism. SUBCHAPTER II—AUTHORITIES 9621. Authorities relating to provision of support. 9622. Terms and conditions. 9623. Payment of losses. 9624. Termination. SUBCHAPTER III—ADMINISTRATIVE AND GENERAL PROVISIONS 9631. Operations. 9632. Corporate powers. 9633. Maximum contingent liability. 9634. Corporate funds. 9635. Coordination with other development agen- cies. SUBCHAPTER IV—MONITORING, EVALUATION, AND REPORTING 9651. Establishment of risk and audit committees. 9652. Performance measures, evaluation, and learn- ing. 9653. Annual report. 9654. Publicly available project information. 9655. Engagement with investors. 9656. Notifications to be provided by the Corpora- tion. SUBCHAPTER V—CONDITIONS, RESTRICTIONS, AND PROHIBITIONS 9671. Limitations and preferences. 9672. Additionality and avoidance of market dis- tortion. 9673. Prohibition on support in countries that sup- port terrorism or violate human rights and with sanctioned persons. 9674. Applicability of certain provisions of law. SUBCHAPTER VI—TRANSITIONAL PROVISIONS 9681. Definitions. 9682. Reorganization plan. 9683. Transfer of functions. 9684. Termination of Overseas Private Investment Corporation and other superceded authori- ties. 9685. Transitional authorities. 9686. Savings provisions. 9687. Other terminations. 9688. Incidental transfers. 9689. Reference. § 9601. Definitions In this chapter: (1) Appropriate congressional committees The term ‘‘appropriate congressional com- mittees’’ means— Page 2271 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 9611 (A) the Committee on Foreign Relations and the Committee on Appropriations of the Senate; and (B) the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives. (2) Less developed country The term ‘‘less developed country’’ means a country with a low-income economy, lower- middle-income economy, or upper-middle-in- come economy, as defined by the International Bank for Reconstruction and Development and the International Development Association (collectively referred to as the ‘‘World Bank’’). (3) Predecessor authority The term ‘‘predecessor authority’’ means au- thorities repealed by subchapter VI of this chapter. (4) Qualifying sovereign entity The term ‘‘qualifying sovereign entity’’ means— (A) any agency or instrumentality of a for- eign state (as defined in section 1603 of title 28) that has a purpose that is similar to the purpose of the Corporation as described in section 9612(b) of this title; or (B) any international financial institution (as defined in section 262r(c) of this title). (Pub. L. 115–254, div. F, § 1402, Oct. 5, 2018, 132 Stat. 3485.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, was in the original ‘‘this division’’, meaning division F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3485, which is classified prin- cipally to this chapter. For complete classification of division F to the Code, see Short Title note set out below and Tables. Subchapter VI of this chapter, referred to in par. (3), was in the original ‘‘title VI’’, meaning title VI (§§ 1461–1470) of div. F of Pub. L. 115–254, Oct. 5, 2018, 132 Stat. 3510, which is classified principally to subchapter VI of this chapter and which repealed title IV of chap- ter 2 of part I of the Foreign Assistance Act of 1961 (22 U.S.C. 2191 et seq.), other than subsections (g), (l), (m), and (n) of section 237 thereof (22 U.S.C. 2197(g), (l), (m), (n)), among other amendments. For complete classi- fication of title VI to the Code, see Tables. Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 115–254, div. F, § 1401, Oct. 5, 2018, 132 Stat. 3485, provided that: ‘‘This division [enacting this chap- ter, amending sections 2151n, 2197, 2291, 2296b, 5401, 5421, 6062, 6445, 7102, 7902, 8926, 9303, and 9546 of this title, sec- tion 905 of Title 2, The Congress, sections 5313 to 5316 of Title 5, Government Organization and Employees, sec- tion 8G of Pub. L. 95–452, set out in the Appendix to Title 5, sections 649, 4721, 4727, and 4902 of Title 15, Com- merce and Trade, section 709 of Title 18, Crimes and Criminal Procedure, section 4421 of Title 19, Customs Duties, section 1131c of Title 20, Education, section 9101 of Title 31, Money and Finance, and sections 17334 and 17336 of Title 42, The Public Health and Welfare, repeal- ing subpart iv of part II of subchapter I of chapter 32 of this title, except for section 2197 of this title, enacting provisions set out as a note under section 905 of Title 2, amending provisions set out as notes under sections 2293 and 2394c of this title] may be cited as the ‘Better Utilization of Investments Leading to Development Act of 2018’ or the ‘BUILD Act of 2018’.’’ SUBCHAPTER I—ESTABLISHMENT § 9611. Statement of policy It is the policy of the United States to facili- tate market-based private sector development and inclusive economic growth in less developed countries through the provision of credit, cap- ital, and other financial support— (1) to mobilize private capital in support of sustainable, broad-based economic growth, poverty reduction, and development through demand-driven partnerships with the private sector that further the foreign policy interests of the United States; (2) to finance development that builds and strengthens civic institutions, promotes com- petition, and provides for public account- ability and transparency; (3) to help private sector actors overcome identifiable market gaps and inefficiencies without distorting markets; (4) to achieve clearly defined economic and social development outcomes; (5) to coordinate with institutions with pur- poses similar to the purposes of the Corpora- tion to leverage resources of those institutions to produce the greatest impact; (6) to provide countries a robust alternative to state-directed investments by authoritarian governments and United States strategic com- petitors using best practices with respect to transparency and environmental and social safeguards, and which take into account the debt sustainability of partner countries; (7) to leverage private sector capabilities and innovative development tools to help countries transition from recipients of bilat- eral development assistance toward increased self-reliance; and (8) to complement and be guided by overall United States foreign policy, development, and national security objectives, taking into account the priorities and needs of countries receiving support. (Pub. L. 115–254, div. F, title I, § 1411, Oct. 5, 2018, 132 Stat. 3486.) Statutory Notes and Related Subsidiaries ENHANCEMENT OF NONGOVERNMENTAL SECTOR IN POLAND AND HUNGARY Pub. L. 101–179, title III, § 302(b), Nov. 28, 1989, 103 Stat. 1311, provided that: ‘‘In accordance with its man- date to foster private initiative and competition and enhance the ability of private enterprise to make its full contribution to the development process, the Over- seas Private Investment Corporation shall support projects in Poland and Hungary which will result in en- hancement of the nongovernmental sector and reduc- tion of state involvement in the economy.’’ [For transfer of functions, personnel, assets, and li- abilities of the Overseas Private Investment Corpora- tion to the United States International Development Finance Corporation and treatment of related ref- erences, see sections 9683 and 9686(d) of this title.] Pub. L. 101–179, title III, § 302(c), Nov. 28, 1989, 103 Stat. 1311, provided that: ‘‘If the Foreign Operations, Export Financing, and Related Programs Appropria- tions Act, 1990 [Pub. L. 101–167], contains the same amendment that is made by subsection (a) of this sec-