Sec. 101. Statement of policy
234 words·~1 min read·
/bill/115/hr/5105/rh/section-101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the policy of the United States to facilitate market-based private sector development and economic growth in less developed countries through the provision of credit, capital, and other financial support— 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; to finance development in a way that builds and strengthens civic institutions, promotes competition, provides for public accountability and transparency; to help private sector actors overcome identifiable market gaps and inefficiencies without distorting markets; to achieve clearly defined economic and social development outcomes; to coordinate with institutions with purposes similar to the purposes of the Corporation to leverage resources of those institutions to produce the greatest impact; to provide countries a robust alternative to state-directed investments by authoritarian governments and United States strategic competitors using high standards of transparency, environmental and social safeguards, and which take into account the debt sustainability of partner countries; to leverage private sector capabilities and innovative development tools to help countries currently receiving United States assistance to transition from their status as recipients of traditional forms of assistance in order to decrease their reliance on such assistance over time; 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.