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Code · BILL · 114th Congress · H.R. 2847 (Introduced in House) — To encourage African countries provide first-time access to electricity and power services for at least 50,000,000 pe... · Sec. 205

Sec. 205. Local currency guaranties

133 words·~1 min read·/bill/114/hr/2847/ih/section-205·

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The Overseas Private Investment Corporation is temporarily authorized to 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 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) ). The temporary authority under subsection
(a)shall terminate on September 30 of the third fiscal year after the date of the enactment of this Act. Any loans made or local currency guarantees issued pursuant to subsection
(a)before the date specified in subsection
(c)shall remain valid on and after that date.
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  • 22 USC 2194(h)
  • 22 USC 2198(c)
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Sec. 205
Local currency guaranties
Cite22 USC 2194(h)
Cite22 USC 2198(c)
Cites 2Cited by 0 across 0 sources
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