§9656 — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

The Corporation’s CEO must send a written report to the appropriate congressional committees at least 15 days before making any financial commitment over $20,000,000 under subchapter II. The report must say the dollar amount, who will get the money, a simple description of the project/activity/asset and the Corporation’s impact quotient showing the development goal, whether the Corporation accepted a subordinate creditor position, and, if so, the required policy reasons for taking that subordinate position. The CEO must also notify those committees within 30 days after entering a new bilateral agreement covered by the law.

Title 22, §9656

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)Not later than 15 days prior to the Corporation making a financial commitment associated with the provision of support under subchapter II of this title in an amount in excess of $20,000,000, the Chief Executive Officer of the Corporation shall submit to the appropriate congressional committees a report in writing that contains the information required by subsection (b).

(b)The information required by this subsection includes—

(1)the amount of each such financial commitment;

(2)an identification of the recipient or beneficiary;

(3)a description of the project, activity, or asset and the Corporation’s impact quotient outlining the development goal or purpose to be achieved by providing support by the Corporation; and

(4)(A)information relating to whether the Corporation has accepted a creditor status that is subordinate to that of other creditors in the project, activity, or asset; and

(B)for all projects, activities, or assets that the Corporation has accepted a creditor status that is subordinate to that of other creditors the Corporation shall include a description of the substantive policy rationale required by section 9623(b)(12) of this title that influenced the decision to accept such a creditor status.

(c)The Chief Executive Officer of the Corporation shall notify the appropriate congressional committees not later than 30 days after entering into a new bilateral agreement described in section 9631(a) of this title.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2025—Subsec. (a). Pub. L. 119–60, § 8757(1), substituted “$20,000,000” for “$10,000,000”. Subsec. (b)(3). Pub. L. 119–60, § 8757(2)(B)(i), inserted “the Corporation’s impact quotient outlining” after “asset and”. Subsec. (b)(4). Pub. L. 119–60, § 8757(2)(B)(ii), (C), added par. (4).

§9656 Notifications to be provided by the Corporation

Summary

Title 22, §9656

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata