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 enterprises ; by striking and in the development and inserting , in the development ; and by inserting , and in the economic empowerment of the poor, especially women before the period at the end; in paragraph (2)— by striking microenterprise and inserting micro, small, and medium-sized enterprises ; and by inserting , particularly enterprises owned, managed, and controlled by women before the period at the end; 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— in subsection (a)— in the matter preceding paragraph (1), by striking credit, savings, and other services to microfinance and microenterprise clients and inserting credit, including the use of innovative credit scoring models, savings, financial technology, financial literacy, insurance, property rights, and other services to 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 clients owned, managed, and controlled by women ; in paragraph (2)— by striking microenterprises and inserting micro, small, and medium-sized enterprises ; and by inserting to 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)— by amending 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)— by amending subparagraph

(B)to read as follows: In order to ensure that assistance under this title is distributed effectively and efficiently, 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 in subparagraph (C), in the matter preceding clause (i)— 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); and in subsection (c), by striking subsection (a), 50 percent of all microenterprise resources and all that follows and inserting the following: “subsection (a)— 50 percent of all micro, small, and medium-sized enterprise resources shall be targeted to 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 to be used in measuring or assessing 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 striking microenterprise households lacking full access to credit and inserting micro, small, and medium-sized enterprises and households lacking full access to credit and other financial services ; and in paragraphs

(1)and (2), by striking microfinance institutions each place such term appears and inserting financial intermediaries ; in subsection (c), in the matter preceding paragraph (1), by striking microfinance institutions and inserting financial intermediaries ; and in subsections

(c)and (d), by striking microenterprise households each place such term appears and inserting micro, small, and medium-sized enterprises and households . Section 257 of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2213 ) is amended— in subsection (a), by striking United States-supported microfinance institutions and inserting United States-supported financial intermediaries ; and in subsection (b)— in paragraph (1), by striking United States-supported microfinance institutions each place such term appears and inserting United States-supported financial intermediaries ; and in paragraph (2), by striking microfinance institutions and inserting financial intermediaries . Section 258(b) of the Foreign Assistance Act of 1961 ( 22 U.S.C. 2214(b) ) is amended to read as follows: To the extent practicable, the report submitted under subsection

(a)should contain the following: Information about assistance provided under section 252, including— the amount of each grant or other form of assistance; the name and type of each intermediary and implementing partner organization receiving assistance; the name of each country receiving assistance; and the methodology used to ensure compliance with the targeted assistance requirements under subsection

(c)of such section. The percentage of assistance provided under section 252, disaggregated by income level, including for the very poor, and by gender. The estimated number of individuals that received assistance under section 252, disaggregated by income level, including for the very poor, by 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 of the House of Representatives and inserting ; Committee on Foreign Affairs of the House of Representatives 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, or medium-sized enterprise institution ; and in subparagraph (F), by striking microfinance institution and inserting financial intermediary ; by striking paragraphs

(7)and

(8)and inserting the following: 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. 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 ; by amending paragraph (10), as redesignated, to read as follows: The term practitioner institution means a not-for-profit entity, a financial intermediary, an information and communications technology firm with a mobile money platform, a village and savings loan group, or any other entity that provides financial or business development services authorized under section 252 that benefits micro, small, and medium-sized enterprise clients. ; in paragraph (12), as redesignated— in the paragraph 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 ; and in paragraph (13), as redesignated, by amending subparagraph

(B)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 ( 22 U.S.C. 2211 et seq.) is amended in the title heading by striking and inserting Microenterprise Development Assistance . Development Assistance for Micro, Small, and Medium-Sized Enterprises

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