“Sec. 8001. This title may be cited as the ‘Nita M. Lowey Middle East Partnership for Peace Act of 2020’. “FINDINGS“Sec. 8002. Congress finds the following:“(1) Economic development in conflict settings has been shown to support stabilization by empowering entrepreneurs, growing the middle class, and mitigating unemployment. “(2) In 2018, unemployment in the Palestinian territories was 32.4 percent. Gross Domestic Product (GDP) growth in the Palestinian territories declined from 2017 to 2019, and it is projected to further decline in 2020. “(3) According to the World Bank Ad Hoc Liaison Committee’s April 2019 Economic Monitoring Report, ‘to achieve sustainable economic growth, in the Palestinian territories, growth and job creation going forward will need to be private sector driven’. “(4) According to the 2018 Joint Strategic Plan of the Department of State and the United States Agency for International Development, ‘assistance can help prevent new recruitment to terrorist organizations, reduce levels of violence, promote legitimate governance structures that strengthen inclusion, and reduce policies that marginalize communities’. “(5) Although economic development is an important tool for stabilizing conflict-prone settings and establishing connections between communities, economic development by itself will not lead to lasting peace. People-to-people peace-building programs further advance reconciliation efforts by promoting greater understanding, mutual trust, and cooperation between communities. “(6) While the United States and its international partners continue to support diplomatic and political negotiations between the representatives of the parties to the Israeli-Palestinian conflict, such efforts require broad popular support among the people on the ground to succeed. “(7) Achieving sustainable, high-level agreements for lasting peace in the Middle East must come through, and with the support of, the people who live there, and the United States and its international partners can help the people of the region build popular support for sustainable agreements for lasting peace. “SENSE OF CONGRESS“Sec. 8003. It is the sense of Congress that—“(1) building a viable Palestinian economy is central to the effort to preserve the possibility of a negotiated settlement leading to a sustainable two-state solution with the democratic, Jewish state of Israel and a demilitarized, democratic Palestinian state living side-by-side in peace, security, and mutual recognition; “(2) United States and international support for grassroots, people-to-people efforts aimed at fostering tolerance, and building support for such solution, can help counter extremist propaganda and the growing issue of incitement; “(3) strengthening engagement between Palestinians and Israelis, including through people-to-people peace-building programs can increase the bonds of friendship and understanding; “(4) investing in the development of the Palestinian economy and in joint economic ventures can advance multiple sectors to the benefit of local, regional, and global parties; and “(5) Congress encourages cooperation between Palestinian, American, and Israeli business sectors in order to benefit the Palestinian, American, and Israeli peoples and economies. “PEOPLE-TO-PEOPLE PARTNERSHIP FOR PEACE FUND“Sec. 8004. [Enacted this section.] “JOINT INVESTMENT FOR PEACE INITIATIVE“Sec. 8005. (a) Establishment.—Beginning on the date that is 180 days after the date of the enactment of this Act [Dec. 27, 2020], the Chief Executive Officer of the United States International Development Finance Corporation (referred to in this section as the ‘Chief Executive Officer’ and the ‘Corporation’, respectively) is authorized to establish a program to provide investments in, and support to, entities that carry out projects that contribute to the development of the Palestinian private sector economy in the West Bank and Gaza. The program established under this subsection shall be known as the ‘Joint Investment for Peace Initiative’ (referred to in this section as the ‘Initiative’) and shall be subject to all existing terms, conditions, restrictions, oversight requirements, and applicable provisions of law, including the Better Utilization of Investments Leading to Development Act of 2018 (22 U.S.C. 9611 et seq) [div. F of Pub. L. 115–254, 22 U.S.C. 9601 et seq.], including through strict adherence to the less-developed country focus under
section 1412(c) of such Act [22 U.S.C. 9612(c)]. “(b) Participation Requirement.—In carrying out the Initiative, the Chief Executive Officer shall ensure participation by small and medium-sized enterprises owned by Palestinians, which may include the technology sector, the agriculture sector, and other high value-added or emerging industries. “(c) Priority.—In carrying out the Initiative, the Chief Executive Officer shall prioritize support to projects that increase economic cooperation between Israelis and Palestinians. “(d) Use of Existing Authorities.—In carrying out the Initiative, the Chief Executive Officer shall utilize the authorities under
section 1421 of the Better Utilization of Investments Leading to Development Act of 2018 (22 U.S.C. 9621), including to—“(1) select a manager of the Initiative; “(2) oversee and direct the operation of the Initiative consistent with such Act and other provisions of law; “(3) provide the Initiative with loans, guaranties, equity, and insurance, as appropriate, to enable the Initiative to attract private investment; “(4) support the private sector in entering into joint ventures between Palestinian and Israeli entities; and “(5) carry out the purposes of the Initiative consistent with the provisions of this section and other applicable provisions of law. “(e) Annual Report.—“(1) In general.—Not later than
December 31, 2031, the Chief Executive Officer shall submit to the appropriate congressional committees a report that describes the following:“(A) The extent to which the Initiative has contributed to promoting and supporting Palestinian economic development. “(B) The extent to which the Initiative has contributed to greater integration of the Palestinian economy into the international rules-based business system. “(C) The extent to which projects that increase economic cooperation between Palestinians and Israelis and between Palestinians and Americans have been prioritized, including through support to the private sector to enter into joint ventures. “(D) Information on the following:“(i) Investments received and provided through the Initiative. “(ii) The mechanisms established for transparency and accountability of investments provided through the Initiative. “(E) The extent to which entities supported by the Initiative have impacted the efficacy of people-to-people programs. “(F) To the extent practicable, an assessment of the sustainability of commercial endeavors that receive support from the Initiative. “(G) A description of the process for vetting and oversight of entities eligible for support from the Initiative to ensure compliance with the requirements of
section 8006(b) of this Act [probably means “this title”]. “(2) Form.—The reports required under this subsection shall be submitted in unclassified form, without the designation ‘For Official Use Only’ or any related or successor designation, but may be accompanied by a classified annex. “(f) Termination.—“(1) In general.—The Initiative shall terminate at the end of the fiscal year that is 10 years after the date on which the Chief Executive Officer makes the first investment under the Initiative. “(2) Exception.—The Chief Executive Officer is authorized to continue to manage investments made under the Initiative on and after the date specified in paragraph (1). “(g) Coordination.—The Chief Executive Officer shall coordinate with the Secretary of State and the Administrator of the United States Agency for International Development in carrying out the provisions of this section. “LIMITATIONS, VETTING, COORDINATION, AND OVERSIGHT“Sec. 8006. (a) Limitations.—None of the funds made available to carry out this title, or any amendment made by this title, may be used to provide—“(1) financial assistance to the national government of any foreign country; “(2) assistance for—“(A) any individual or group the Secretary of State determines to be involved in, or advocating, terrorist activity; or “(B) any individual who is a member of a foreign terrorist organization (as designated pursuant to
section 219 of the Immigration and Nationality Act (8 U.S.C. 1189)); or “(3) assistance for the Palestinian Authority or the Palestine Liberation Organization. “(b) Applicable