Sec. 4. Assistance from the United States International Development Finance Corporation
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The United States International Development Finance Corporation, in coordination with the Federal agencies and officials described in subsection (b), shall provide assistance under section 1421 of the Better Utilization of Investments Leading to Development Act of 2018 ( 22 U.S.C. 9621 ) for each fiscal year beginning after the date of the enactment of this Act— to support efforts of Latin American and Caribbean countries to secure their critical mineral and energy supply chains from control and influence by the People’s Republic of China; and to otherwise carry out the policy described in section 2(b).
The Federal agencies and officials described in this subsection include— the United States Trade and Development Agency, the Export-Import Bank of the United States, the Millenium Challenge Corporation, the United States Army Corps of Engineers, and the United States Agency for International Development; and the United States Executive Directors of relevant international financial institutions, including the World Bank Group, the Inter-American Development Bank, and the International Monetary Fund.
In providing assistance described in subsection (a)— the United States International Development Finance Corporation may provide support for projects in Latin American and Caribbean countries with upper-middle-income economies or high-income economies (as those terms are defined by the International Bank for Reconstruction and Development and the International Development Association (collectively referred to as the World Bank )); and the restriction under section 1412(c)(2) of the Better Utilization of Investments Leading to Development Act of 2018 ( 22 U.S.C. 9612(c)(2) ) shall not apply.
Not later than 180 days after the date of the enactment of this Act, the United States International Development Finance Corporation shall develop and submit to the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate a plan to streamline the provision of assistance described in subsection (a), including to expedite the approval process for the provision of such assistance.
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Sec. 4
Assistance from the United States International Development Finance Corporation
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