Sec. 205. Pilot program for direct investment and local currency guaranties for power projects in sub-Saharan Africa
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The Overseas Private Investment Corporation shall conduct a pilot program to— make loans to eligible investors under section 234(c) of the Foreign Assistance Act of 1961 (22 U.S.C. 2194(c)) for power projects in sub-Saharan Africa and for which the total support of the Corporation does not exceed $50,000,000; and issue local currency guarantees under section 234(h) of the Foreign Assistance Act of 1961 (22 U.S.C. 2194(h)) to African subsidiaries of foreign financial institutions if the issuance of such guarantees directly facilitates lending for power projects in sub-Saharan Africa undertaken by eligible investors.
In this section, the term eligible investor means an eligible investor as defined in section 238(c) of the Foreign Assistance Act of 1961 (22 U.S.C. 2198(c)) or described in section 204(a) of this Act. The pilot program under subsection
(a)shall terminate on the date that is 5 years after the date of the enactment of this Act. Notwithstanding subsection (c), any loans made or local currency guarantees issued pursuant to the pilot program under subsection
(a)before the date that is 5 years after the date of the enactment of this Act shall remain valid on and after that date.
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- 22 USC 2194(c)
- 22 USC 2194(h)
- 22 USC 2198(c)
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Sec. 205
Pilot program for direct investment and local currency guaranties for power projects in sub-Saharan Africa
Cite22 USC 2194(c)
Cite22 USC 2194(h)
Cite22 USC 2198(c)
Cites 3Cited by 0 across 0 sources