Sec. 3257. Enhancing Transatlantic cooperation on promoting private sector finance
213 words·~1 min read·
/bill/117/s/1260/es/section-3257·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The President should work with transatlantic partners to build on the agreement among the Development Finance Corporation, FinDev Canada, and the European Development Finance Institutions (called the DFI Alliance) to enhance coordination on shared objectives to foster private sector-led development and provide market-based alternatives to state-directed financing in emerging markets, particularly as related to the People’s Republic of China's Belt and Road Initiative (BRI), including by integrating efforts such as— the European Union Strategy on Connecting Europe and Asia; the Three Seas Initiative and Three Seas Initiative Fund; the Blue Dot Network among the United States, Japan, and Australia; and a European Union-Japan initiative that has leveraged $65,000,000,000 for infrastructure projects and emphasizes transparency standards.
The United States, European Union, and European countries should coordinate efforts to address the Government of the People’s Republic of China’s use of the United Nations to advance and legitimize BRI as a global good, including the proliferation of memoranda of understanding between the People’s Republic of China and United Nations funds and programs on BRI implementation. The United States and the European Union should coordinate and develop a strategy to enhance transatlantic cooperation with the OECD and the Paris Club on ensuring the highest possible standards for Belt and Road Initiative contracts and terms with developing countries.