§9601. Definitions — Inbound Citations
22 U.S.C. § 9601
Cited by 57 provisions in release 119-102.
Citations to 22 U.S.C. § 9601 as a whole
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(2) No assistance shall be furnished under this chapter, the Peace Corps Act [22 U.S.C. 2501 et seq.], the Millennium Challenge Act of 2003 [22 U.S.C. 7701 et seq.], the African Development Foundation Act [22 U.S.C. 290h et seq.], the BUILD Act of 2018 [22 U.S.C. 9601 et seq.], section 5854 of this title, or section 2763 of this title to the government of any country which is in default during a period in excess of 1 calendar year in payment to the United States of principal or interest or any loan made to the government of such country by the United States unless the President determines, following consultation with the congressional committees specified in paragraph (1), that assistance for such country is in the national interest of the United States.
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(2) In this subsection, the terms “appropriate congressional committees” and “less developed country” have the meanings given those terms in section 9601 of this title.
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(a) Notwithstanding any other provision of law (other than the Trafficking Victims Protection Act of 2000 [22 U.S.C. 7101 et seq.] and the Child Soldiers Prevention Act of 2008), the President is authorized to provide assistance under part I and chapter 4 of part II of the Foreign Assistance Act of 1961 (22 U.S.C. 2151 et seq. and 2346 et seq.) and under the Better Utilization of Investments Leading to Development Act of 2018 (22 U.S.C. 9601 et seq.) for programs in Sudan—(1) to increase agricultural and livestock productivity;(2) to promote economic growth, increase private sector productivity and advance market-based solutions to address development challenges;(3) to support women’s economic empowerment and economic opportunities for youth and previously marginalized populations;(4) to improve equal access to quality basic education;(5) to support the capacity of universities to equip students to participate in a pluralistic and global society through virtual exchange and other programs;(6) to improve access to water, sanitation, and hygiene projects;(7) to build the capacity of national and subnational government officials to support the transparent management of public resources, promote good governance through combating corruption and improving accountability, increase economic productivity, and increase domestic resource mobilization; and(8) to support other related economic assistance programs and activities.
Citations to §9601(1)
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(2) The Corporation may provide support for a project under title II in an advancing income country if, before providing such support, the Chief Executive Officer certifies in writing to the appropriate congressional committees, that such support will be provided in accordance with the policy established pursuant to subsection (d)(2). Such certification may be included as an appendix to the report required by section 1446.
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(1) The Board shall establish policies, which shall be applied on a project-by-project basis, to evaluate and determine the strategic merits of providing support for projects and investments in advancing income countries and high-income countries.
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(2) Any policy used to evaluate and determine the strategic merits of providing support for projects in an advancing income country shall require that such projects—(A) advance—(i) the national security interests of the United States in accordance with United States foreign policy, as determined by the Secretary of State; or(ii) significant strategic economic competitiveness imperatives;(B) are designed in a manner to produce significant developmental outcomes or provide developmental impacts to the poorest populations of such country; and(C) are structured in a manner that maximizes private capital mobilization.
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(i) the amount and percentage of Corporation support provided to less developed countries, advancing income countries, and high-income countries in the previous fiscal year; and
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(ii) the amount and percentage of Corporation support provided to less developed countries, advancing income countries and high-income countries averaged over the last 5 fiscal years;
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(G) a breakdown of the aggregate amounts and percentage of the maximum contingent liability of the Corporation authorized to be outstanding pursuant to section 1433 in less developed countries, advancing income countries, and high-income countries;
Citations to §9601(2)
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(2) The Corporation may provide support for a project under title II in an advancing income country if, before providing such support, the Chief Executive Officer certifies in writing to the appropriate congressional committees, that such support will be provided in accordance with the policy established pursuant to subsection (d)(2). Such certification may be included as an appendix to the report required by section 1446.
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(A) The Corporation may provide support for a project under title II in a high-income country if, before providing such support, the Chief Executive Officer certifies in writing to the appropriate congressional committees that such support will be provided in accordance with the policy established pursuant to subsection (d)(3). Such certification may be included as an appendix to the report required by section 9656 of this title.
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(B) Not later than 120 days after December 18, 2025, and annually thereafter, the Corporation shall submit to the appropriate congressional committees a report, which may be submitted in classified or confidential form, that includes—(i) a list of all high-income countries in which the Corporation anticipates providing support in the subsequent fiscal year (and, with respect to the first such report, the then-current fiscal year); and(ii) to the extent practicable, a description of the type of projects anticipated to receive such support.
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(C) The Corporation may not provide support for a project in a high-income country in any year for which that high-income country is not included on the list required by subparagraph (B)(i), unless, not later than 15 days before commitment, the Corporation consults with and submits to the appropriate congressional committees a notification describing how the proposed project advances the foreign policy interests of the United States.
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(D) the Chief Executive Officer submit to the appropriate congressional committees a report, which may be submitted as an appendix to a report required by section 9656 of this title, that—(i) certifies that the Corporation has applied the policy to each supported project in a high-income country; and(ii) describes whether such support—(I) is a preferred alternative to state-directed investments by a foreign country of concern; or(II) otherwise furthers the strategic interest of the United States to counter or limit the influence of foreign countries of concern.
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(C) shall develop, in consultation with stakeholders, other interested parties, and the appropriate congressional committees, a publicly available policy with respect to consultations, hearings, and other forms of engagement in order to provide for meaningful public participation in the Board’s activities.
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(1) Not later than 1 year after December 18, 2025, the Secretary of State, acting through the Director of the Foreign Service Institute and in collaboration with the Chief Executive Officer of the Corporation, shall conduct a review of and submit to the appropriate congressional committees a report on the utility of establishing elective training classes or programs on development finance within the School of Professional and Area Studies for all levels of the foreign service.
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(c) Not later than 90 days after December 18, 2025, the Board shall submit a report to the appropriate congressional committees describing any efficiencies that may be gained through the consolidation of functions of the independent accountability mechanism under the authorities of the Office of the Inspector General of the Corporation under section 1414.1 The report shall include an outline as to how the Inspector General of the Corporation would develop an internal environmental, social, and governance expertise to adequately replace the independent accountability mechanism’s environmental, social, and governance expertise.
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(A) notifies the appropriate congressional committees; and
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(A) shall be appointed by the President after consultation with the chairmen and ranking members of the appropriate congressional committees; and
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(A) submit to the appropriate congressional committees a report—(i) detailing the administrative expenses of the enterprise fund during the year preceding the submission of the report;(ii) describing the operations, activities, engagement with civil society and relevant local private sector entities, development objectives and outcomes, financial condition, and accomplishments of the enterprise fund during that year;(iii) describing the results of any audit conducted under paragraph (8); and(iv) describing how audits conducted under paragraph (8) are informing the operations and activities of the enterprise fund; and
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(A) the Chief Executive Officer certifies in writing to the appropriate congressional committees that such reductions are necessary due to operational exigency, statutory change, or budgetary shortfall; and
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(a) After the end of each fiscal year, the Corporation shall submit to the appropriate congressional committees a complete and detailed report of its operations during that fiscal year, including an assessment of—(1) the economic and social development impact, including with respect to matters described in subsections (d), (e), and (f) of section 9651 of this title, of projects supported by the Corporation under subchapter II of this chapter;(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 entities;(3) the Corporation’s institutional linkages with other relevant United States Government department1 and agencies, including efforts to strengthen such linkages;(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 administered by the Corporation;(5) the United States strategic, foreign policy, and development objectives advanced through projects supported by the Corporation; and(6) the health of the Corporation’s portfolio, including an annual overview of funds committed, funds disbursed, default and recovery rates, capital mobilized, equity investments’ year on year returns, and any difference between how investments were modeled at commitment and how they ultimately performed, to include a narrative explanation explaining any changes.
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(a) 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 $20,000,000, 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).
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(c) The Chief Executive Officer of the Corporation shall notify the appropriate congressional committees not later than 30 days after entering into a new bilateral agreement described in section 9631(a) of this title.
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(C) The President may waive the restriction under subparagraph (B) on a project-by-project basis if the President submits to the appropriate congressional committees—(i) a certification, which may be included as a classified or confidential annex to a report required by section 9656 of this title, that such support is important to the national security interests of the United States; and(ii) a written justification of how such support directly counters or significantly limits the influence of an entity described in such subparagraph.
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(1) Not later than 120 days after October 5, 2018, the President shall transmit to the appropriate congressional committees a reorganization plan regarding the following:(A) The transfer of agencies, personnel, assets, and obligations to the Corporation pursuant to this subchapter.(B) Any consolidation, reorganization, or streamlining of agencies transferred to the Corporation pursuant to this subchapter.(C) Any efficiencies or cost savings achieved or additional costs incurred as a result of the transfer of agencies, personnel, assets, and obligations to the Corporation pursuant to this subchapter, including reductions in unnecessary or duplicative operations, assets, and personnel.
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(2) Not later than 15 days before the date on which the plan is transmitted pursuant to this subsection, the President shall consult with the appropriate congressional committees on such plan.
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(d) The President shall consult with the appropriate congressional committees before making any material modification or revision to the plan before the plan becomes effective in accordance with subsection (e).
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(1) The reorganization plan described in this section, including any modifications or revisions of the plan under subsection (c), shall become effective for an agency on the date specified in the plan (or the plan as modified pursuant to subsection (d)), except that such date may not be earlier than 90 days after the date the President has transmitted the reorganization plan to the appropriate congressional committees pursuant to subsection (a).
Citations to §9601(3)
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(1) a country of concern; or
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(B) The Corporation may not provide support under subchapter II of this chapter for projects that would be operated, managed, or controlled by the government of a county of concern or a state-owned enterprise that belongs to or is under the control of a country of concern.
Citations to §9601(4)
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(A) The Corporation may provide support for a project under title II in a high-income country if, before providing such support, the Chief Executive Officer certifies in writing to the appropriate congressional committees that such support will be provided in accordance with the policy established pursuant to subsection (d)(3). Such certification may be included as an appendix to the report required by section 9656 of this title.
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(i) a list of all high-income countries in which the Corporation anticipates providing support in the subsequent fiscal year (and, with respect to the first such report, the then-current fiscal year); and
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(C) The Corporation may not provide support for a project in a high-income country in any year for which that high-income country is not included on the list required by subparagraph (B)(i), unless, not later than 15 days before commitment, the Corporation consults with and submits to the appropriate congressional committees a notification describing how the proposed project advances the foreign policy interests of the United States.
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(1) The Board shall establish policies, which shall be applied on a project-by-project basis, to evaluate and determine the strategic merits of providing support for projects and investments in advancing income countries and high-income countries.
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(3) Any policy used to evaluate and determine the strategic merits of providing support for projects in high-income countries shall require that—(A) each such project meets the requirements described in paragraph (2);(B) with respect to each project in a high-income country—(i) private sector entities have been afforded an opportunity to support the project on viable terms in place of support by the Corporation; and(ii) such support by the Corporation does not exceed 25 percent of the total cost of the project;(C) with respect to support for all projects in all high-income countries, the aggregate amount of such support does not exceed 10 percent of the total contingent liability authorized by section 9633 of this title; and(D) the Chief Executive Officer submit to the appropriate congressional committees a report, which may be submitted as an appendix to a report required by section 9656 of this title, that—(i) certifies that the Corporation has applied the policy to each supported project in a high-income country; and(ii) describes whether such support—(I) is a preferred alternative to state-directed investments by a foreign country of concern; or(II) otherwise furthers the strategic interest of the United States to counter or limit the influence of foreign countries of concern.
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(B) with respect to each project in a high-income country—(i) private sector entities have been afforded an opportunity to support the project on viable terms in place of support by the Corporation; and(ii) such support by the Corporation does not exceed 25 percent of the total cost of the project;
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(C) with respect to support for all projects in all high-income countries, the aggregate amount of such support does not exceed 10 percent of the total contingent liability authorized by section 9633 of this title; and
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(i) certifies that the Corporation has applied the policy to each supported project in a high-income country; and
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(i) the amount and percentage of Corporation support provided to less developed countries, advancing income countries, and high-income countries in the previous fiscal year; and
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(ii) the amount and percentage of Corporation support provided to less developed countries, advancing income countries and high-income countries averaged over the last 5 fiscal years;
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(G) a breakdown of the aggregate amounts and percentage of the maximum contingent liability of the Corporation authorized to be outstanding pursuant to section 1433 in less developed countries, advancing income countries, and high-income countries;
Citations to §9601(5)
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It is the policy of the United States to facilitate market-based private sector development and inclusive economic growth in less developed countries through the provision of credit, capital, and other financial support—
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(b) The purpose of the Corporation shall be to mobilize and facilitate the participation of private sector capital and skills in the economic development of less developed countries, as described in subsection (c), countries in transition from nonmarket to market economies, and other eligible foreign countries, in order to complement the development assistance objectives, and advance the foreign policy and national security interests, of the United States. In carrying out its purpose, the Corporation, utilizing broad criteria, shall take into account in its financing operations the economic and financial soundness and development objectives of projects for which it provides support under subchapter II of this chapter.
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(1) The Corporation shall prioritize the provision of support under subchapter II of this chapter in less developed countries.
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(i) manage the Equity Investment Account in ways that demonstrate a commitment to pursuing catalytic investments in less developed countries in accordance with section 9612(c)(1) of this title and paragraph (1); and
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(i) the amount and percentage of Corporation support provided to less developed countries, advancing income countries, and high-income countries in the previous fiscal year; and
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(ii) the amount and percentage of Corporation support provided to less developed countries, advancing income countries and high-income countries averaged over the last 5 fiscal years;
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(G) a breakdown of the aggregate amounts and percentage of the maximum contingent liability of the Corporation authorized to be outstanding pursuant to section 1433 in less developed countries, advancing income countries, and high-income countries;
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(H) the risk appetite of the Corporation to undertake projects in less developed countries and in sectors that are critical to development but less likely to deliver substantial financial returns; and
Citations to §9601(6)
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(1) Claims arising as a result of support provided under subchapter II of this chapter or under predecessor authority may be settled, and disputes arising as a result thereof may be arbitrated with the consent of the parties, on such terms and conditions as the Corporation may determine.
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(1) All support provided pursuant to predecessor authorities or subchapter II of this chapter shall continue to constitute obligations of the United States, and the full faith and credit of the United States is hereby pledged for the full payment and performance of such obligations.
Citations to §9601(7)
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(2) mitigate risks to United States taxpayers by sharing risks with the private sector and qualifying sovereign entities through co-financing and structuring of tools; and
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(d) The Corporation may issue insurance or reinsurance, upon such terms and conditions as the Corporation may determine, to private sector entities and qualifying sovereign entities assuring protection of their investments in whole or in part against any or all political risks such as currency inconvertibility and transfer restrictions, expropriation, war, terrorism, civil disturbance, breach of contract, or nonhonoring of financial obligations.
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(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 entities;
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(2) an explanation of any partnership arrangement or cooperation with a qualifying sovereign entity in support of each project;
Citations to §9601(8)
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(2) a wealthy country, except to the extent permitted pursuant to subsection (f).