Sec. 123. OVERSEAS PRIVATE INVESTMENT CORPORATION INITIATIVES
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## SEC. 123 OVERSEAS PRIVATE INVESTMENT CORPORATION INITIATIVES **[**[19 U.S.C. 3733](/us/usc/t19/s3733)**]** ###
(a)Initiation of Funds It is the sense of the Congress that the Overseas Private Investment Corporation should exercise the authorities it has to initiate an equity fund or equity funds in support of projects in the countries in sub-Saharan Africa, in addition to the existing equity fund for sub-Saharan Africa created by the Corporation. ###
(b)Structure and Types of Funds ####
(1)Structure Each fund initiated under subsection
(a)should be structured as a partnership managed by professional private sector fund managers and monitored on a continuing basis by the Corporation. ####
(2)Capitalization Each fund should be capitalized with a combination of private equity capital, which is not guaranteed by the Corporation, and debt for which the Corporation provides guaranties. ####
(3)Infrastructure fund One or more of the funds, with combined assets of up to $500,000,000, should be used in support of infrastructure projects in countries of sub-Saharan Africa. ####
(4)Emphasis The Corporation shall ensure that the funds are used to provide support in particular to women entrepreneurs and to innovative investments that expand opportunities for women and maximize employment opportunities for poor individuals. ###
(c)Overseas Private Investment Corporation ####
(1)Investment advisory council Section 233 of the Foreign Assistance Act of 1961 is amended by adding at the end the following: > > ### “(e) Investment Advisory Council > > The Board shall take prompt measures to increase the loan, guarantee, and insurance programs, and financial commitments, of the Corporation in sub-Saharan Africa, including through the use of an investment advisory council to assist the Board in developing and implementing policies, programs, and financial instruments with respect to sub-Saharan Africa. In addition, the investment advisory council shall make recommendations to the Board on how the Corporation can facilitate greater support by the United States for trade and investment with and in sub-Saharan Africa. The investment advisory council shall terminate 4 years after the date of the enactment of this subsection.” > . ####
(2)Reports to congress Within 6 months after the date of the enactment of this Act, and annually for each of the 4 years thereafter, the Board of Directors of the Overseas Private Investment Corporation shall submit to Congress a report on the steps that the Board has taken to implement section 233(e) of the Foreign Assistance Act of 1961 (as added by paragraph (1)) and any recommendations of the investment advisory council established pursuant to such section.
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Sec. 123
OVERSEAS PRIVATE INVESTMENT CORPORATION INITIATIVES
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