§ 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thorities repealed by subchapter VI of this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)
File SHA-256: 51b44a72fe8ebc11e022bbb7060714041a4e56f1641dafad8887d83ce6bcf322. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. This page displays the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
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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-
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
Page 678
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§§ 2191 to 2194
2 So in original. Probably should be ‘‘issued’’.
the event the borrower elects not to finance
such costs or fees out of loan principal. Guaran-
tees once issued hereunder shall be uncondi-
tional and fully and freely transferable.
(m) Terms and conditions
(1) Each loan guarantee issued under this sec-
tion shall guarantee 100 percent of the principal
and interest payable on such loans.
(2) The standard terms of any loan or incre-
ment guaranteed under this section shall be 30
years with semiannual payments of interest
only over the first 10 years, and with semiannual
payments of principal and interest on a level
payment basis, over the last 20 years thereof, ex-
cept that the guaranteed loan or any increments
issued in a single transaction may include obli-
gations having different maturities, interest
rates, and payment terms if the aggregate
scheduled debt service for all obligations issued
in a single transaction equals the debt service
for a single loan or increment of like amount
having the standard terms described in this sen-
tence. The guarantor shall not have the right to
accelerate any guaranteed loan or increment or
to pay any amounts in respect of the guarantees
issued other than in accordance with the origi-
nal payment terms of the loan. For purposes of
determining the maximum principal amount of
any loan or increment to be guaranteed under
this section, the principal amount of each such
loan or increment shall be—
(A) in the case of any loan issued on a dis-
count basis, the original issue price (excluding
any transaction costs) thereof; or
(B) in the case of any loan issue 2 on an in-
terest-bearing
basis,
the
stated
principal
amount thereof.
(Pub. L. 87–19
Stored review status: historical_2024_not_currentness_verified. The source passage cites 22 U.S.C. § 2191. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a) to (f). Repealed. Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513**
**(g) Fraud or misrepresentation** No payment may be made under any guaranty, insurance, or reinsurance issued pursuant to this subpart for any loss arising out of fraud or misrepresentation for which the party seeking payment is responsible.
**(h) to (k) Repealed. Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513**
**(l) Convictions under Foreign Corrupt Practices Act of 1977; prohibition on payments for losses resulting from unlawful activities; suspension from eligibility of receipt of financial support**
(1) No payment may be made under any insurance or reinsurance which is issued under this subpart on or after April 24, 1978, for any loss occurring with respect to a project, if the preponderant cause of such loss was an act by the investor seeking payment under this subpart, by a person possessing majority ownership and control of the investor at the time of the act, or by any agent of such investor or controlling person, and a court of the United States has entered a final judgment that such act constituted a violation under the Foreign Corrupt Practices Act of 1977.
(2) Not later than 120 days after April 24, 1978, the Corporation shall adopt regulations setting forth appropriate conditions under which any person convicted under the Foreign Corrupt Practices Act of 1977 for an offense related to a project insured or otherwise supported by the Corporation shall be suspended, for a period of not more than five years, from eligibility to receive any insurance, reinsurance, guaranty, loan, or other financial support authorized by this subpart.
**(m) Notification of countries of environmental restrictions on certain activities**
(1) Befo
Stored review status: release_metadata_unconfirmed. The source passage cites 22 U.S.C. § 2197. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 2197. General provisions relating to insurance,
guaranty, financing, and reinsurance pro-
grams
(a) to (f). Repealed. Pub. L. 115–254, div. F, title
VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513
(g) Fraud or misrepresentation
No payment may be made under any guaranty,
insurance, or reinsurance issued pursuant to
Page 680
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 2197
1 See References in Text note below.
this subpart for any loss arising out of fraud or
misrepresentation for which the party seeking
payment is responsible.
(h) to (k) Repealed. Pub. L. 115–254, div. F, title
VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513
(l) Convictions under Foreign Corrupt Practices
Act of 1977; prohibition on payments for
losses resulting from unlawful activities; sus-
pension from eligibility of receipt of finan-
cial support
(1) No payment may be made under any insur-
ance or reinsurance which is issued under this
subpart on or after April 24, 1978, for any loss oc-
curring with respect to a project, if the prepon-
derant cause of such loss was an act by the in-
vestor seeking payment under this subpart, by a
person possessing majority ownership and con-
trol of the investor at the time of the act, or by
any agent of such investor or controlling person,
and a court of the United States has entered a
final judgment that such act constituted a vio-
lation under the Foreign Corrupt Practices Act
of 1977.
(2) Not later than 120 days after April 24, 1978,
the Corporation shall adopt regulations setting
forth appropriate conditions under which any
person convicted under the Foreign Corrupt
Practices Act of 1977 for an offense related to a
project insured or otherwise supported by the
Corporation shall be suspended, for a period of
not more than five years, from
Stored review status: historical_2024_not_currentness_verified. The source passage cites 22 U.S.C. § 2197. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In pursuing the policy described in [section 9562 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section9562&num=0&edition=prelim), the Secretary of State, in consultation with the Secretary of Energy and the heads of other relevant United States agencies, shall, as appropriate, prioritize and expedite the efforts of the Department of State and those agencies in supporting the efforts of the European Commission and the governments of European and Eurasian countries to increase their energy security, including through—
(1) providing diplomatic and political support to the European Commission and those governments, as necessary—
(A) to facilitate international negotiations concerning cross-border infrastructure;
(B) to enhance Europe’s regulatory environment with respect to energy; and
(C) to develop accessible, transparent, and competitive energy markets supplied by diverse sources, types, and routes of energy; and
(2) providing support to improve European and Eurasian energy markets, including early-stage project support and late-stage project support for the construction or improvement of energy and related infrastructure, as necessary—
(A) to diversify the energy sources and supply routes of European and Eurasian countries;
(B) to enhance energy market integration across the region; and
(C) to increase competition within energy markets.
**(b) Project selection**
(1) **In general** — The agencies described in subsection (a) shall identify energy infrastructure projects that would be appropriate for United States assistance under this section.
(2) **Project eligibility** — A project is eligible for United States assistance under this section if the project—
(A)
(i) improves electricit
Stored review status: release_metadata_unconfirmed. The source passage cites 22 U.S.C. § 9563. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
§ 9563. Prioritization of efforts and assistance for
energy infrastructure projects in Europe and
Eurasia
(a) In general
In pursuing the policy described in section 9562
of this title, the Secretary of State, in consulta-
tion with the Secretary of Energy and the heads
of other relevant United States agencies, shall,
as appropriate, prioritize and expedite the ef-
forts of the Department of State and those agen-
cies in supporting the efforts of the European
Commission and the governments of European
and Eurasian countries to increase their energy
security, including through—
(1) providing diplomatic and political sup-
port to the European Commission and those
governments, as necessary—
(A) to facilitate international negotiations
concerning cross-border infrastructure;
(B) to enhance Europe’s regulatory envi-
ronment with respect to energy; and
(C) to develop accessible, transparent, and
competitive energy markets supplied by di-
verse sources, types, and routes of energy;
and
(2) providing support to improve European
and Eurasian energy markets, including early-
stage project support and late-stage project
support for the construction or improvement
of energy and related infrastructure, as nec-
essary—
(A) to diversify the energy sources and
supply routes of European and Eurasian
countries;
(B) to enhance energy market integration
across the region; and
(C) to increase competition within energy
markets.
(b) Project selection
(1) In general
The agencies described in subsection (a)
shall identify energy infrastructure projects
that would be appropriate for United States
assistance under this section.
(2) Project eligibility
A project is eligible for United States assist-
ance under this section if the project—
(A)(i) improves electricit
Stored review status: historical_2024_not_currentness_verified. The source passage cites 22 U.S.C. § 9563. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
With respect to any function transferred under this subchapter (including under a reorganization plan under [section 9682 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section9682&num=0&edition=prelim)) and exercised on or after October 5, 2018, reference in any other Federal law to any department, commission, or agency or any officer or office the functions of which are so transferred shall be deemed to refer to the Corporation or official or component of the Corporation to which that function is so transferred.