Sec. 203. Energy security compact structure
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Each Energy Security Compact should increase reliable access to energy, electricity, or critical minerals for both parties to the Energy Security Compact, for the purpose of stimulating economic growth, enabling follow-on private sector investment, supporting the commercial competitiveness of United States companies, or diversifying relevant supply chains. Before establishing an Energy Security Compact, the Office of Energy Security Compacts, in collaboration with the Energy Security Compact Council, shall conduct a constraints analysis of the energy sector and supply-chain segments needed to strengthen the partner country’s energy security, consistent with United States energy security risks and commercial opportunities.
Each Energy Security Compact shall contain— a constraints analysis of the energy sector which identifies insufficiencies in the energy sector and supply-chain segments needed to ensure the partner country’s energy security, consistent with United States energy security risks and commercial opportunities; specific objectives that the partner country and the United States expect to achieve during the term of the Energy Security Compact, including— increased energy production, reliability, and affordability in the partner country; economic growth in the partner country that may reduce the need for foreign assistance; improved access to energy, in consultation with affected communities and civil society; and improved infrastructure that enables access to critical minerals mining and processing; the responsibilities of the partner country and the United States in the achievement of such objectives; regular quantitative benchmarks to measure, where appropriate, progress toward achieving such objectives; an identification of the intended impact of the activities carried out in accordance with the Energy Security Compact; a multiyear financial plan, updated annually until the expiration of the term of the Energy Security Compact, that— estimates the amount of contributions, commitments, and other participation to be provided by the Department, Core Agencies, Collaborating Agencies, the partner country, and other entities; ensures compacts with low-income countries incorporate and are complementary to development programs administered by other United States agencies and departments, so that United States funds are used to improve feasibility for private sector investment to further development goals; identifies proposed mechanisms to implement the plan and provide oversight of the plan; and describes how the requirements described in paragraphs
(1)through
(5)will be met, including the role of the private sector in the achievement of such requirements; as appropriate, a description of the current and potential participation of other donors, including countries that are allies and partners of the United States or collaborating agencies in the achievement of such objectives; a description of how oversight and transparency of the foreign assistance provided through the Economic Resilience Initiative will be maintained; as appropriate, a process or processes for considering— solicited proposals under the Energy Security Compact; and unsolicited proposals by national, regional, and local units of government and private corporations; a requirement that open, fair, competitive, and transparent procedures are used in the administration of grants or cooperative agreements or the procurement of goods and services for the accomplishment of objectives under the Energy Security Compact; the strategy of the partner country to sustain progress made toward achieving such objectives after expiration of the Energy Security Compact; a description of the role of both core and collaborating agencies in any design, implementation, and monitoring of programs and activities funded through the Energy Security Compact; and a description of any contribution, as appropriate, from the partner country relative to its national budget and taking into account the prevailing economic conditions, toward meeting the objectives of the Energy Security Compact. A country shall be considered eligible for support under this section if— the per capita income of the country is not greater than the World Bank loan threshold or the country is eligible for support from the International Bank for Reconstruction and Development or the International Development Association graduation process at the beginning of the year in which negotiations are initiated; the country has been identified as strategically or commercially important for the United States by the Director for Energy Security Compacts, Secretary, a member of the National Security Council, or the President; the Assistant Secretary determines that the country has the capacity and commitment to implement the Energy Security Compact; and the country is not a foreign country of concern, as such term is defined in section 10612(a) of Public Law 117–167 ( 42 U.S.C. 19221(a) ). In addition to the elements described in subsection (c), each Energy Security Compact shall contain a provision stating that assistance provided by the United States under the Energy Security Compact shall be exempt from taxation by the government of the partner country. Each Energy Security Compact shall be recommended by the Director for Energy Security Compacts and approved by the Secretary before the United States enters into such an Energy Security Compact. The duration of each Energy Security Compact may not exceed 10 years. A partner country that has entered into, and has in effect, an Energy Security Compact under this section may enter into, and concurrently have in effect, additional Energy Security Compacts. Not later than 15 days after making a determination to increase or extend assistance under an Energy Security Compact with a partner country, the Secretary, acting through the Director for Energy Security Compacts, shall submit to the appropriate congressional committees a written report that contains— a justification for such a determination; a detailed summary of the proposed increase in, or extension of, assistance under the Energy Security Compact; and a copy of the full text of the amendment to the Energy Security Compact.
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