Collapse to view only § 9674. Applicability of certain provisions of law
- § 9671. Limitations and preferences
- § 9672. Additionality and avoidance of market distortion
- § 9673. Prohibition on support in countries that support terrorism or violate human rights and with sanctioned persons
- § 9674. Applicability of certain provisions of law
§ 9671. Limitations and preferences
(a) Limitation on support for single entity
(b) Preference for support for projects sponsored by United States persons
(1) In general
(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 individual or individuals described in subparagraph (A).
(c) Preference for support in countries in compliance with international trade obligations
(1) Consultations with United States Trade Representative
(2) Preferential consideration
(d) Worker rights
(1) In general
(2) Required contract language
(e) Impact notification
The Board shall not vote in favor of any project proposed to be supported by the Corporation under subchapter II of this chapter that is likely to have significant adverse environmental or social impacts that are sensitive, diverse, or unprecedented, unless—
(1) at least 60 days before the date of the vote, an environmental and social impact assessment or initial environmental and social audit, analyzing the environmental and social impacts of the proposed project and of alternatives to the proposed project, including mitigation measures, is completed;
(2) such assessment or audit has been made available to the public of the United States, locally affected groups in the country in which the project will be carried out, and nongovernmental organizations in that country; and
(3) the Corporation, applying best practices with respect to environmental and social safeguards, includes in any contract relating to the project provisions to ensure the mitigation of any such adverse environmental or social impacts.
(f) Women’s economic empowerment
(g) Preference for provision of support in countries embracing private enterprise
(1) In general
The Corporation should give preferential consideration to projects for which support under subchapter II of this chapter may be provided in countries the governments of which have demonstrated consistent support for economic policies that promote the development of private enterprise, both domestic and foreign, and maintaining the conditions that enable private enterprise to make a full contribution to the development of such countries, including—
(A) market-based economic policies;
(B) protection of private property rights;
(C) respect for the rule of law; and
(D) systems to combat corruption and bribery.
(2) Sources of information
(h) Consideration of foreign boycott participation
(i) Ensuring opportunities for small businesses in foreign development
The Corporation shall, using broad criteria, make, to the maximum extent possible consistent with this chapter, efforts—
(1) to give preferential consideration in providing support under subchapter II of this chapter to projects sponsored by or involving small businesses; and
(2) to ensure that the proportion of projects sponsored by or involving United States small businesses, including women-, minority-, and veteran-owned small businesses, is not less than 50 percent of all projects for which the Corporation provides support and that involve United States persons.
(Pub. L. 115–254, div. F, title V, § 1451, Oct. 5, 2018, 132 Stat. 3507.)
§ 9672. Additionality and avoidance of market distortion
(a) In general
(b) Safeguards, policies, and guidelines
The Corporation shall develop appropriate safeguards, policies, and guidelines to ensure that support provided by the Corporation under subchapter II of this chapter—
(1) supplements and encourages, but does not compete with, private sector support;
(2) operates according to internationally recognized best practices and standards with respect to ensuring the avoidance of market distorting government subsidies and the crowding out of private sector lending; and
(3) does not have a significant adverse impact on United States employment.
(Pub. L. 115–254, div. F, title V, § 1452, Oct. 5, 2018, 132 Stat. 3509.)
§ 9673. Prohibition on support in countries that support terrorism or violate human rights and with sanctioned persons
(a) In generalThe Corporation is prohibited from providing support under subchapter II of this chapter for a government, or an entity owned or controlled by a government, if the Secretary of State has determined that the government—
(1) has repeatedly provided support for acts of international terrorism for purposes of—
(A)section 4813(c)(1)(A)(i) of title 50;
(B)section 2371(a) of this title;
(C)section 2780(d) of this title; or
(D) any other relevant provision of law; or
(2) has engaged in a consistent pattern of gross violations of internationally recognized human rights for purposes of section 2151n(a) or 2304(a)(2) of this title or any other relevant provision of law.
(b) Prohibition on support of sanctioned persons
(c) Prohibition on support of activities subject to sanctions
(Pub. L. 115–254, div. F, title V, § 1453, Oct. 5, 2018, 132 Stat. 3510.)
§ 9674. Applicability of certain provisions of law
Subsections (g), (l), (m), and (n) of section 2197 of this title shall apply with respect to the Corporation to the same extent and in the same manner as such subsections applied with respect to the Overseas Private Investment Corporation on the day before October 5, 2018.
(Pub. L. 115–254, div. F, title V, § 1454, Oct. 5, 2018, 132 Stat. 3510.)