Sec. 101. Definitions
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Section 1402 of the Better Utilization of Investments Leading to Development Act of 2018 ( 22 U.S.C. 9601 ) is amended— by redesignating paragraphs (2), (3), and
(4)as paragraphs (3), (4), and (5), respectively; by inserting after paragraph
(1)the following: The term high-income country — means a country with a high-income economy, as defined by International Bank for Reconstruction and Development and the International Development Association (collectively referred to as the World Bank ; but does not include a wealthy country. ; in paragraph
(3)(as so redesignated) to read as follows: The term less developed country means, with respect to a fiscal year for the Corporation, a country the per capita income of which at the start of such fiscal year is equal to or less than the then-current World Bank threshold for initiating the International Bank for Reconstruction and Development graduation process. ; and in paragraph
(5)(as so redesignated)— in subparagraph (A), by striking or at the end; in subparagraph (B), by striking the period at the end and inserting ; or ; and by adding at the end the following: any other similar institution that has a purpose that is similar to the purpose of the Corporation as described in section 1412(b). ; and by adding at the end the following: The term “upper-middle-income country” means, with respect to a fiscal year for the Corporation, a country the per capita income of which at the start of such fiscal year is greater than the then-current World Bank threshold for initiating the International Bank for Reconstruction and Development graduation process, and is equal to or less than the per capita income threshold defined as a high-income economy by the World Bank. The term wealthy country means a country that is among the 40 countries with the highest gross domestic product per capita at purchasing power parity as calculated by the World Bank. .
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