22 U.S.C. § 2213 — United States Microfinance Loan Facility

Page 689 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2213 prise policy, in consultation with the Department of the Treasury and the Department of State, and to provide global leadership among bilateral and multi- lateral donors in promoting microenterprise for the very poor; and ‘‘(6) to ensure that in the implementation of this title at least 50 percent of all microenterprise assist- ance under this title, and the amendments made under this title, shall be targeted to the very poor.’’ DEFINITIONS Pub. L. 106–309, title I, § 104, Oct. 17, 2000, 114 Stat. 1082, as amended by Pub. L. 108–31, § 1(b), June 17, 2003, 117 Stat. 775, provided that: ‘‘In this title [see Short Title of 2000 Amendments note set out under section 2151 of this title]: ‘‘(1) BUSINESS DEVELOPMENT SERVICES.—The term ‘business development services’ means support for the growth of microenterprises through training, tech- nical assistance, marketing assistance, improved pro- duction technologies, and other services. ‘‘(2) MICROENTERPRISE INSTITUTION.—The term ‘microenterprise institution’ means an institution that provides services, including microfinance, train- ing, or business development services, to microentre- preneurs and their households. ‘‘(3) MICROFINANCE INSTITUTION.—The term ‘micro- finance institution’ means an institution that di- rectly provides, or works to expand, the availability of credit, savings, and other financial services to microentrepreneurs. ‘‘(4) PRACTITIONER INSTITUTION.—The term ‘practi- tioner institution’ means any institution that pro- vides services, including microfinance, training, or business development services, for microentre- preneurs, or provides assistance to microenterprise institutions. ‘‘(5) VERY POOR.—The term ‘very poor’ means indi- viduals— ‘‘(A) living in the bottom 50 percent below the poverty line established by the national govern- ment of the country in which those individuals live; or ‘‘(B) living on the equivalent of less than $1 per day.’’ Executive Documents DELEGATION OF FUNCTIONS For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. Division C—United States Microfinance Loan Facility § 2213. United States Microfinance Loan Facility (a) Establishment The President is authorized to establish a United States Microfinance Loan Facility (in this section referred to as the ‘‘Facility’’) to pool and manage the risk from natural disas- ters, war or civil conflict, national financial cri- sis, or short-term financial movements that threaten the long-term development of United States-supported financial intermediaries. (b) Disbursements (1) In general The Administrator shall make disburse- ments from the Facility to United States-sup- ported financial intermediaries to prevent the bankruptcy of such institutions caused by— (A) natural disasters; (B) national wars or civil conflict; or (C) national financial crisis or other short- term financial movements that threaten the long-term development of United States-sup- ported financial intermediaries. (2) Form of assistance Assistance under this section shall be in the form of loans or loan guarantees for financial intermediaries that demonstrate the capacity to resume self-sustained operations within a reasonable time period. (3) Congressional notification procedures During each of the fiscal years 2005 through 2009, funds may not be made available from the Facility until 15 days after notification of the proposed availability of the funds has been provided to the congressional committees specified in section 2394–1 of this title in ac- cordance with the procedures applicable to re- programming notifications under that section. (c) General provisions (1) Policy provisions In providing the credit assistance authorized by this section, the Administrator should apply, as appropriate, the policy provisions in subchapter I of this chapter that are applica- ble to development assistance activities. (2) Default and procurement provisions (A) Default provision The provisions of section 2370(q) of this title, or any comparable provision of law, shall not be construed to prohibit assistance to a country in the event that a private sec- tor recipient of assistance furnished under this section is in default in its payment to the United States for the period specified in such section. (B) Procurement provision Assistance may be provided under this sec- tion without regard to section 2354(a) of this title. (3) Terms and conditions of credit assistance (A) In general Credit assistance provided under this sec- tion shall be offered on such terms and con- ditions, including fees charged, as the Ad- ministrator may determine. (B) Limitation on principal amount of financ- ing The principal amount of loans made or guaranteed under this section in any fiscal year, with respect to any single event, may not exceed $30,000,000. (C) Exception No payment may be made under any guar- antee issued under this section for any loss arising out of fraud or misrepresentation for which the party seeking payment is respon- sible. (4) Full faith and credit All guarantees issued under this section shall constitute obligations, in accordance with the terms of such guarantees, of the United States of America, and the full faith and credit of the United States of America is Page 690 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2214 hereby pledged for the full payment and per- formance of such obligations to the extent of the guarantee. (d) Funding (1) Allocation of funds Of the amounts made available to carry out subchapter I of this chapter for each of the fis- cal years 2005 through 2009, such sums as may be necessary may be made available for— (A) the subsidy cost, as defined in section 661a(5) of title 2, to carry out this section; and (B) the administrative costs to carry out this section. (2) Relation to other funding Amounts made available under paragraph (1) are in addition to amounts available under any other provision of law to carry out this section. (Pub. L. 87–195, pt. I, § 257, formerly § 132, as added Pub. L. 106–309, title I, § 107(a), Oct. 17, 2000, 114 Stat. 1086; renumbered § 257 and amend- ed Pub. L. 108–484, § 5(a), (b), (c)(2), Dec. 23, 2004, 118 Stat. 3927; Pub. L. 115–428, § 4(g), Jan. 9, 2019, 132 Stat. 5515.) Editorial Notes CODIFICATION Section was formerly classified to section 2152b of this title. PRIOR PROVISIONS A prior section 2213, Pub. L. 87–195, pt. I, § 253, as added Pub. L. 87–565, pt. I, § 106, Aug. 1, 1962, 76 Stat. 258; amended Pub. L. 88–205, pt. I, § 106(c), Dec. 16, 1963, 77 Stat. 383, related to availability of receipts from loans for Alliance for Progress, prior to repeal by Pub. L. 95–424, title I, § 102(g)(1)(A), title VI, § 605, Oct. 6, 1978, 92 Stat. 942, 961, effective Oct. 1, 1978. AMENDMENTS 2019—Subsec. (a). Pub. L. 115–428, § 4(g)(1), substituted ‘‘President’’ for ‘‘Administrator’’ and ‘‘United States- supported financial intermediaries’’ for ‘‘United States- supported microfinance institutions’’. Subsec. (b)(1). Pub. L. 115–428, § 4(g)(2)(A), substituted ‘‘United States-supported financial intermediaries’’ for ‘‘United States-supported microfinance institutions’’ in introductory provisions and in subpar. (C). Subsec. (b)(2). Pub. L. 115–428, § 4(g)(2)(B), substituted ‘‘financial intermediaries’’ for ‘‘microfinance institu- tions’’. 2004—Subsec. (b)(3). Pub. L. 108—484, § 5(c)(2)(A), sub- stituted ‘‘2005 through 2009’’ for ‘‘2001 and 2002’’. Subsec.(d)(1). Pub. L. 108—484, § 5(c)(2)(B), substituted ‘‘for each of the fiscal years 2005 through 2009, such sums as may be necessary’’ for ‘‘for the fiscal year 2001, up to $5,000,000’’. Subsec. (e). Pub. L. 108–484, § 5(c)(2)(C), struck out heading and text of subsec. (e) which defined ‘‘Adminis- trator’’, ‘‘appropriate congressional committees’’, and ‘‘United States-supported microfinance institution’’ for purposes of this section. Statutory Notes and Related Subsidiaries REFERENCES TO SUBCHAPTER I DEEMED TO INCLUDE CERTAIN PARTS OF SUBCHAPTER II References to subchapter I of this chapter are deemed to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See section 202(b) of Pub. L. 92–226, set out as a note under section 2346 of this title, and sections 2348c and 2349aa–5 of this title. Division D—Miscellaneous Provisions § 2214. Report (a) In general Not later than June 30, 2006, and each June 30 thereafter, the Administrator of the Agency, acting through the Director of the office, shall submit to the appropriate congressional com- mittees a report that contains a detailed de- scription of the implementation of this subpart for the previous fiscal year. (b) Contents To the extent practicable, the report sub- mitted under subsection (a) should contain the following: (1) Information about assistance provided under section 2211a of this title, including— (A) the amount of each grant or other form of assistance; (B) the name and type of each inter- mediary and implementing partner organiza- tion receiving assistance; (C) the name of each country receiving as- sistance; and (D) the methodology used to ensure com- pliance with the targeted assistance require- ments under subsection (c) of such section. (2) The percentage of assistance provided under section 2211a of this title, disaggregated by income level, including for the very poor, and by gender. (3) The estimated number of individuals that received assistance under section 2211a of this title, disaggregated by income level (or an ap- propriate proxy for income level, including for the very poor), by gender, and by type of as- sistance. (4) The results of the monitoring system re- quired under section 2211b of this title. (5) Information about any method in place to assess poverty levels under section 2211c of this title. (c) Availability to public The report required by this section shall be made available to the public on the Internet website of the Agency. (Pub. L. 87–195, pt. I, § 258, as added Pub. L. 108–484, § 6, Dec. 23, 2004, 118 Stat. 3928; amended Pub. L. 115–428, § 4(h), Jan. 9, 2019, 132 Stat. 5515.) Editorial Notes AMENDMENTS 2019—Subsec. (b). Pub. L. 115–428 amended subsec. (b) generally. Prior to amendment, subsec. (b) related to required contents of report, including number of grants provided and information on distribution of assistance. § 2214a. Definitions In this subpart: (1) Administrator The term ‘‘Administrator’’ means the Ad- ministrator of the Agency. (2) Agency The term ‘‘Agency’’ means the United States Agency for International Development.