Sec. 4. Development assistance for micro, small and medium-sized enterprises

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Section 251 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2211 ) is amended— in paragraph (1)— by striking microenterprise and inserting micro, small and medium-sized enterprise ; by striking and in the development and inserting , in the development ; and by adding at the end before the period the following: , and in the economic empowerment of the poor, especially women ; in paragraph (2)— by striking microenterprise and inserting micro, small and medium-sized enterprise ; and by adding at the end before the period the following: , particularly those enterprises owned, managed, and controlled by women ; in paragraph (3), by striking microenterprises and inserting micro, small and medium-sized enterprises ; in paragraph (4), by striking microenterprise and inserting micro, small and medium-sized enterprise ; in paragraph (5)— by striking should continue and inserting should continue and be expanded ; and by striking microenterprise and microfinance development assistance and inserting development assistance for micro, small and medium-sized enterprises ; and in paragraph (6)— by striking have been successful and inserting have had some success ; by striking microenterprise programs and inserting development assistance for micro, small and medium-sized enterprises ; and by striking , such as countries in Latin America .

Section 252 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2211a ) is amended as follows: In subsection (a)— in the matter preceding paragraph (1)— by striking credit, savings, and other services and inserting credit, including the use of innovative credit scoring models, savings, financial technology, financial literacy, insurance, property rights, and other services ; and by striking microfinance and microenterprise clients and inserting micro, small and medium-sized enterprise clients ; in paragraph (1), by striking microfinance and microenterprise clients and inserting micro, small and medium-sized enterprise clients, particularly those clients owned, managed, and controlled by women ; in paragraph (2)— by striking microenterprises and inserting micro, small and medium-sized enterprises ; and by inserting acquire United States goods and services, after United States markets, ; in paragraph (3)— by striking microfinance and microenterprise institutions and inserting financial intermediaries ; by striking microfinance and microenterprise clients and inserting micro, small and medium-sized enterprises ; and by striking and at the end; in paragraph (4)— by striking microfinance and microenterprise clients and institutions and inserting micro, small and medium-sized enterprises, financial intermediaries, and capital markets ; and by striking the poor and very poor. and inserting the poor and very poor, especially women; ; and by adding at the end the following: assistance for the purpose of promoting the economic empowerment of women, including through increased access to financial resources and improving property rights, inheritance rights, and other legal protections; and assistance for the purpose of scaling up evidence-based graduation approaches, which include targeting the very poor and households in ultra-poverty, consumption support, promotion of savings, skills training, and asset transfers. .

In subsection (b)— in paragraph

(1)to read as follows: There is authorized to be established within the Agency an office to support the Agency’s efforts to broaden and deepen local financial markets, expand access to appropriate financial products and services, and support the development of micro, small and medium-sized enterprises. The Office shall be headed by a Director who shall possess technical expertise and ability to offer leadership in the field of financial sector development. ; in paragraph (2)— in subparagraph (B)— by striking and all that follows through use of central funding mechanisms .— In order to ensure and inserting ; use of central funding mechanisms .—In order to ensure by striking the office shall and all that follows through and other practitioners and inserting the office shall provide coordination and support for field-implemented programs, including through targeted core support for micro, small and medium-sized enterprises and local financial markets ; and by striking clause (ii); in subparagraph (C)— by inserting , particularly by protecting the use and funding of local organizations in countries in which the Agency invests, after and sustainability ; and by inserting , especially women after the poor and very poor ; and by striking paragraph (3). In subsection (c)— by striking all microenterprise resources and inserting all micro, small and medium-sized enterprise resources ; and by striking clients who are and all that follows and inserting activities that reach the very poor, and 50 percent of all small and medium-sized enterprise resources shall be targeted to activities that reach enterprises owned, managed, and controlled by women. . Section 253(b) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2211b(b) ) is amended— in paragraph (1), by inserting , including goals on a gender disaggregated basis, such as improvements in employment, access to financial services, enterprise development, earnings and control over income, and property and land rights, after performance goals ; in paragraph (2), by striking include performance indicators and all that follows through the achievement and inserting incorporate Agency planning and reporting processes and indicators to measure or assess the achievement ; and by striking paragraph (4). Section 254 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2211c ) is amended to read as follows: The Administrator of the Agency, in consultation with financial intermediaries and other appropriate organizations, should have in place at least one method for implementing partners to use to assess poverty levels of their current incoming or prospective clients. . Section 255 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2211d ) is amended— by striking assistance for microenterprise development assistance and inserting development assistance for micro, small and medium-sized enterprises ; and by striking and, to the extent applicable and all that follows and inserting a period. Section 256 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2212 ) is amended— in the section heading, by striking and inserting microenterprise development credits ; development credits for micro, small and medium-sized enterprises in subsection (a)— in paragraph (1), by striking micro- and small enterprises and inserting micro, small and medium-sized enterprises ; and in paragraph (2), by striking microenterprises and inserting micro, small and medium-sized enterprises ; in subsection (b), in the matter preceding paragraph (1), by inserting and other financial services after credit ; by striking microenterprise households each place it appears and inserting micro, small and medium-sized enterprises and households ; and by striking microfinance institutions each place it appears and inserting financial intermediaries . Section 257 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2213 ) is amended— in the section heading, by striking and inserting united states microfinance loan facility ; united states micro, small and medium-sized enterprise loan facility in subsection (a)— by striking United States Microfinance Loan Facility and inserting United States Micro, Small and Medium-Sized Enterprise Loan Facility ; and by striking United States-supported microfinance institutions and inserting United States-supported financial intermediaries ; in subsection (b), by striking United States-supported microfinance institutions each place it appears and inserting United States-supported financial intermediaries ; by striking microfinance institutions each place it appears and inserting “financial intermediaries”. Subsection

(b)of section 258 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2214 ) is amended to read as follows: To the extent practicable, the report should contain the following: Information about assistance provided under section 252, including— the amount of each grant or other form of assistance; the name of each intermediary and implementing institution receiving assistance; the name of each country receiving assistance; and the methodology used to ensure compliance with the targeted assistance requirements in subsection

(c)of such section. The percentage of assistance provided under section 252 disaggregated by income level, including for the very poor, and gender. The estimated number of individuals that received assistance provided under section 252 disaggregated by income level, including for the very poor, and gender, and by type of assistance, including loans, training, and business development services. The results of the monitoring system required under section 253. Information about any method in place to assess poverty levels under section 254. . Section 259 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2214a ) is amended— in paragraph (3), by striking Committee on International Relations and inserting Committee on Foreign Affairs ; in paragraph (4), by striking microenterprises and inserting micro, small and medium-sized enterprises ; in paragraph (6)— in subparagraph (E), by striking microenterprise institution and inserting micro, small and medium-sized enterprise institution ; and in subparagraph (F), by striking microenterprise institution and inserting financial intermediary ; in paragraph

(7)to read as follows: The term micro, small and medium-sized enterprise institution means an entity that provides services, including finance, training, or business development services, for micro, small and medium-sized enterprises in foreign countries. ; in paragraph

(8)to read as follows: The term financial intermediary means the entity that acts as the intermediary between parties in a financial transaction, such as a bank, credit union, investment fund, a village savings and loan group, or an institution that provides financial services to a micro, small or medium-sized enterprise. ; by striking paragraph (9); by redesignating paragraphs

(10)through

(14)as paragraphs

(9)through (13), respectively; in paragraph

(9)(as redesignated), by striking of microenterprise development ; in paragraph

(10)to read as follows: The term practitioner institution means a not-for-profit entity, financial intermediary, telecommunications firm with a mobile money platform, a village and savings loan group, or any other entity that provides services authorized under section 252 that benefits micro, small and medium-sized enterprise clients. ; in paragraph

(12)(as redesignated)— in the heading, by striking and inserting united states-supported microfinance institution ; and united states-supported financial intermediary by striking United States-supported microfinance institution and inserting United States-supported financial intermediary ; in subparagraph

(B)of paragraph

(13)(as redesignated) to read as follows: living below the International Poverty Line, as defined by the International Bank for Reconstruction and Development and the International Development Association (collectively referred to as the World Bank ). . Title VI of chapter 2 of part I of the Foreign Assistance Act of 1961 is amended as follows: In the title heading, by striking and inserting MICROENTERPRISE DEVELOPMENT ASSISTANCE . DEVELOPMENT ASSISTANCE FOR MICRO, SMALL AND MEDIUM–SIZED ENTERPRISES In the heading for subtitle C, by striking and inserting United States Microfinance Loan Facility . United States Micro, Small and Medium-Sized Microfinance Loan Facility

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