Sec. 201. Sense of Congress on the Build Back Better World initiative
419 words·~2 min read·
/bill/117/s/4112/is/section-201A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the sense of Congress that— the United States should exercise leadership in the Build Back Better World initiative of the Group of Seven
(G7)to mobilize public and private sector capital and expertise toward meeting the infrastructure needs of low- and middle-income countries, estimated to exceed $40,000,000,000,000, over the next two decades; the initiative should also advance strategic objectives, including— strengthening partnerships with emerging market and developing countries to promote quality, transparent infrastructure investment that also supports good governance and the rule of law; combating climate change through sustainable infrastructure projects that aid partner countries in the transition to net zero emissions, reduce their vulnerabilities to climate change, and improve their resilience; promoting public health and health security through infrastructure projects that increase the availability, accessibility, and affordability of health care in partner countries; increasing internal and external connections in digital, transportation, and energy infrastructure in partner countries; improving education, economic opportunities, and standards of living in marginalized communities in partner countries, including for women and girls, racial and ethnic minorities, individuals with disabilities, individuals who are lesbian, gay, bisexual, transgender, or queer (commonly referred to as LGBTQ+ ), and individuals with low incomes; and providing partners a principled, sustainable alternative to exploitative, coercive, and harmful infrastructure investments; and the United States should establish a Build Back Better World Task Force— to coordinate its development finance agencies, such as the United States International Development Finance Corporation, Export-Import Bank of the United States, the Trade and Development Agency, the Millennium Challenge Corporation, and the United States Agency for International Development; to engage international partners such as the G7, multilateral development banks, international financial institutions, multinational corporations and banks, non-governmental organizations, and other industrial-country partners; to leverage other development finance institutions, such as the Blue Dot Network, the Infrastructure Transaction and Assistance Network, and the Transaction Advisory Fund; and to produce strategic guidance that identifies international infrastructure projects and details implementation plans, including— an explanation of how each infrastructure project advances the strategic objectives described in paragraph (2); a description of consultations, criteria, and justification for such projects; distribution of such projects across economic sectors and geographical regions; budget estimates, proposed sources of financing, and required appropriations for such projects; lists of timelines and contractual parties and their respective rights and responsibilities with respect to such projects; and certification that such projects— meet specified standards, such as those of the Blue Dot Network; and will not have negative impacts on the environment, local communities, national sovereignty, or economic growth.