Sec. 102. Strengthening United States International Development Finance Corporation engagement in Latin America and the Caribbean
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It is the sense of Congress that— United States support for the development of competitive industries in Latin America and the Caribbean, which are necessary for workforce development, increased wages, and further economic development, will provide an opportunity to strengthen United States competitiveness; the reliance of the BUILD Act of 2018 on the Gini coefficient to measure eligibility for development financing from the United States International Development Finance Corporation would exclude the Caribbean’s 12 countries from qualifying for development financing; and given the geographic proximity of Caribbean countries to the United States, the economic stability of Caribbean nations is important to United States national security interests.
Section 1412(c) of the BUILD Act of 2018 (division F of Public Law 115–254 ) is amended by adding at the end the following: Notwithstanding paragraphs
(1)and (2), Caribbean countries (excluding Cuba) shall be included among the countries receiving prioritized support under title II during the 10-year period beginning on the date of the enactment of the Advancing Competitiveness, Transparency, and Security in the Americas Act of 2020 . . Section 1412 of the BUILD Act of 2018, as amended by subsection (b), is further amended by adding at the end the following: The Secretary of State, in accordance with the priorities identified in subsection (c), shall provide foreign policy guidance to the Corporation to prioritize development financing to Latin American and Caribbean countries (excluding Cuba) by dedicating not less than 35 percent of development financing and equity investments to countries in Latin America and the Caribbean during the 10-year period beginning on the date of the enactment of the Advancing Competitiveness, Transparency, and Security in the Americas Act of 2020 . .
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Sec. 102
Strengthening United States International Development Finance Corporation engagement in Latin America and the Caribbean
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