Sec. 8. Overseas private investment corporation
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The Overseas Private Investment Corporation should— in carrying out its programs and pursuing the policy goals described in section 4, place a priority on supporting investment in the electricity sector of sub-Saharan Africa, including renewable energy, and implement procedures for expedited review of and, where appropriate, approval of, applications by eligible investors for loans, loan guarantees, and insurance for such investments; support investments in projects and partner country strategies to the extent permitted by its authorities, policies, and programs, that will— maximize the number of people with new access to electricity to support economic development; improve the generation, transmission, and distribution of electricity; provide reliable and low-cost electricity, including renewable energy and on-grid, off-grid, and multi-grid solutions, to people living in rural and urban communities; consider energy needs of individuals where access to an electricity grid is impractical or cost-prohibitive; reduce transmission and distribution losses and improve end-use efficiency; and reduce energy-related impediments to business and investment opportunity and success; encourage locally-owned, micro, small- and medium-sized enterprises and cooperative service providers to participate in investment activities in sub-Saharan Africa; and publish in an accessible digital format measurable development impacts of its investments, including appropriate quantifiable metrics to measure energy access at the individual household, enterprise, and community level; and publish in an accessible digital format the amount, type, location, duration, and measurable results, with links to relevant reports and displays on an interactive map, where appropriate, of all OPIC investments and financings.
Title IV of chapter 2 of part I of the Foreign Assistance Act of 1961 is amended— in section 233 ( 22 U.S.C. 2193 )— in subsection (b), by inserting after the sixth sentence the following new sentence: Of the eight such Directors, not more than five should be of the same political party. ; and by adding at the end the following new subsection: The Board shall take prompt measures to increase the loan, guarantee, and insurance programs, and financial commitments, of the Corporation in sub-Saharan Africa, including through the use of an investment advisory council to assist the Board in developing and implementing policies, programs, and financial instruments with respect to sub-Saharan Africa.
In addition, the investment advisory council shall make recommendations to the Board on how the Corporation can facilitate greater support by the United States for trade and investment with and in sub-Saharan Africa. The investment advisory council shall terminate on December 31, 2017. ; in section 234(c) ( 22 U.S.C. 2194(c) ), by inserting eligible investors or after involve ; in section 235(a)(2) ( 22 U.S.C. 2195 ), by striking 2007 and inserting 2017 ; in section 237(d) ( 22 U.S.C. 2197(d) )— in paragraph (2), by inserting , systems infrastructure costs, after outside the Corporation ; and in paragraph (3), by inserting , systems infrastructure costs, after project-specific transaction costs ; and by amending section 239(e) ( 22 U.S.C. 2199(e) ) to read as follows:
The Board shall appoint and maintain an Inspector General in the Corporation, in accordance with the Inspector General Act of 1978 (5 U.S.C. App.). . For each of calendar years 2014 through 2016, the Overseas Private Investment Corporation shall conduct a survey of private entities that sponsor or are involved in projects that are insured, reinsured, guaranteed, or financed by the Corporation regarding the level of satisfaction of such entities with the operations and procedures of the Corporation with respect to such projects.
The survey shall be primarily focused on United States small businesses and businesses that sponsor or are involved in projects with a cost of less than $20,000,000 (as adjusted for inflation). Not later than each of July 1, 2015, July 1, 2016, and July 1, 2017, the Corporation should submit to the congressional committees specified in subparagraph
(C)a report on the results of the survey required under paragraph (1). The report should include the Corporation’s plans to revise its operations and procedures based on concerns raised in the results of the survey, if appropriate. The report shall be submitted in unclassified form and shall not disclose any confidential business information. The congressional committees specified in this subparagraph are— the Committee on Appropriations and the Committee on Foreign Affairs of the House of Representatives; and the Committee on Appropriations and the Committee on Foreign Relations of the Senate.
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- 22 USC 2193
- 22 USC 2194(c)
- 22 USC 2195
- 22 USC 2199(e)
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Sec. 8
Overseas private investment corporation
Cite22 USC 2193
Cite22 USC 2194(c)
Cite22 USC 2195
Cite22 USC 2199(e)
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