Sec. 219D. Investment, trade, and development in Africa and Latin America and the Caribbean
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The President shall establish United States strategies to promote, facilitate, and increase trade and investment and development in Africa and Latin America and the Caribbean. The strategy required by paragraph
(1)shall focus on increasing two-way trade and investment with Africa and Latin America and the Caribbean by 200 percent in real dollar value by the date that is 5 years after the date of the enactment of this Act. Not later than 180 days after the date of the enactment of this Act, the President, in consultation with the heads of the relevant Federal departments and agencies, shall submit to the appropriate congressional committees and make publicly available a government-wide strategy for Africa, to be known as the Prosper Africa Strategy, and for Latin America and the Caribbean, that provides detailed descriptions of how the United States intends to fulfill the policy objectives described in paragraph (2). The strategies shall— support and be aligned with other existing United States Government strategies; and include specific and measurable goals, benchmarks, performance metrics, timetables, and monitoring and evaluation plans to ensure the accountability and effectiveness of all policies and initiatives carried out under the strategy. The strategies submitted pursuant to subparagraph
(A)shall also include specific implementation plans, in coordination with the recommendations and activities of the Economic Diplomacy Action Group under section 708 of the Championing American Business Through Diplomacy Act of 2019 ( 22 U.S.C. 9904 ), from each of the relevant Federal departments and agencies that describes— the anticipated contributions of the department or agency, including technical, financial, and in-kind contributions, to implement the strategies; the efforts of the department or agency to ensure that the policies and initiatives carried out pursuant to the strategies are designed to achieve maximum impact and effectiveness; and recommendations on necessary resources, including staffing, to expand efforts to promote trade and investment between the United States and Africa, and the United States and Latin America and the Caribbean. The strategies submitted pursuant to subparagraph
(A)shall include plans for coordinating with relevant departments and agencies the implementation of agency-specific plans described in subparagraph (B), particularly as it relates to advancing two-way trade and investment transactions and business enabling environment reforms. Not later than 180 days after the submission of the strategies required by subsection (a)(3), and annually thereafter until 2026, the President shall submit to the appropriate congressional committees a report, in coordination with the report required by section 707 of the Championing American Business Through Diplomacy Act of 2019 ( 22 U.S.C. 9903 ) that— summarizes and evaluates the implementation of United States diplomatic efforts and foreign assistance programs, projects, and activities to advance the policy objectives set forth in subsection (a)(2); describes the nature and extent of the coordination among the relevant Federal departments and agencies, including summary of activities and engagements of the Economic Diplomacy Action Group; and describes the monitoring and evaluation tools, mechanisms, and indicators to assess progress made on the policy objectives of this section. The President shall designate an individual to serve as the Executive Director for Trade and Investment Strategy in Africa, also known as the Prosper Africa Executive Director, and an individual to serve as Executive Director for Trade and Investment Strategy in Latin America and the Caribbean to— oversee the development and implementation of the strategies required by subsection (a); and coordinate developing and implementing the strategy with the Office of the United States Trade Representative, the Office of Management and Budget, and the relevant departments and agencies. It is the sense of Congress that, not later than one year after the date of the enactment of this Act, high-level officials of relevant departments and agencies of the United States Government with responsibility for promoting trade, investment, financing, and development should conduct joint activities to advance the strategies described in subsection(a), including business development exchanges with public and private sector representatives from Africa and Latin America, and the Caribbean who are focused on promoting two-way trade and investment. The President shall develop a plan— to standardize the training received by United States and Foreign Commercial Service officers, economic officers of the Department of State, and economic officers of the United States Agency for International Development with respect to the programs and procedures of the Export-Import Bank of the United States, the United States International Development Finance Corporation, the Small Business Administration, and the United States Trade and Development Agency; and to ensure that— not later than one year after the date of the enactment of this Act— all personnel referred to in paragraph
(1)receive the training described in that paragraph; and relevant departments and agencies share information on trade and investment transactions facilitated by the United States Government and funded by the public or private sector; not later than 60 days after the date of the enactment of this Act, the Administrator of USAID and the Chief Executive Officer of DFC shall develop a plan to enhance coordination and expedite information sharing that includes— a process for sharing of information in a timely fashion, and at least monthly, on— active and early stage leads on transactions initiated, promoted, or facilitated by DFC; transactions deemed ineligible for DFC support or not being pursued by DFC for other reasons; and transaction opportunities identified by USAID or other relevant United States departments and agencies submitted for DFC consideration; and any training required for DFC, USAID, or other interagency staff to implement the plan; the Executive Directors and their appointed staff shall be responsible for coordinating implementation of this plan; and DFC and USAID shall, in consultation with the Executive Directors and Congress, identify targets for DFC’s financial commitments and any private capital mobilized to finalize a transaction. The Administrator of USAID shall, in consultation with the Executive Directors and relevant department and agencies, establish an interoperable digital platform maintained by the staff of the Executive Directors to— facilitate interagency information sharing and collaboration on trade and investment transactions; and ensure relevant department and agencies use such platform to review, track, and develop consensus on transactions and their relative priorities. The Executive Directors shall coordinate regularly with the leadership of relevant Federal department and agencies to— advance and finalize transactions; or provide a written justification for any transaction deemed ineligible for United States Government financing under existing authorities. In this section: The term appropriate congressional committees means— the Committee on Foreign Relations of the Senate; the Committee on Appropriations of the Senate; the Committee on Foreign Affairs of the House of Representatives; and the Committee on Appropriations of the House of Representatives. The term relevant Federal departments and agencies includes— the Department of State; the Department of the Treasury; the Department of Commerce; the United States Agency for International Development (USAID); the Millennium Challenge Corporation; the United States International Development Finance Corporation (DFC); the United States Trade and Development Agency; the United States African Development Foundation; the Export Import Bank; the Small Business Administration; the Department of Agriculture; and any other entity deemed appropriate by the President. The term early-stage lead means a prospective transaction which is being evaluated by DFC staff, prior to DFC holding an internal screening meeting or accepting an application. The term two-way trade and investment means United States exports to Africa and Latin America and the Caribbean, United States public and private investment in Africa and Latin America and the Caribbean, exports from Africa and Latin America and the Caribbean to the United States, and Africa and Latin America and the Caribbean investment in the United States.
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Sec. 219D
Investment, trade, and development in Africa and Latin America and the Caribbean
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