19 U.S.C. § 3733 | Overseas Private Investment Corporation initiatives

(a)

Initiation of funds

1 See Transfer of Functions note below.

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)

Omitted

(2)

Reports to Congress

May 18, 2000¹2

2 See References in Text note below.

Within 6 months after , 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 2193(e)  of title 22 and any recommendations of the investment advisory council established pursuant to such section.

Pub. L. 106–200, title I, § 123May 18, 2000114 Stat. 269(, , .)

Editorial Notes

References in Text

Section 2193(e) of title 22 Pub. L. 115–254, div. F, title VI, § 1464(2)Oct. 5, 2018132 Stat. 3513, referred to in subsec. (c)(2), was repealed by , , .

Codification

section 123 of Pub. L. 106–200 section 123 of Pub. L. 106–200 section 2193 of Title 22Section is comprised of . Subsec. (c)(1) of amended , Foreign Relations and Intercourse.

Statutory Notes and Related Subsidiaries

Transfer of Functions

For transfer of functions, personnel, assets, and liabilities of the Overseas Private Investment Corporation to the United States International Development Finance Corporation and treatment of related references, see sections 9683 and 9686(d) of Title 22, Foreign Relations and Intercourse.