PRIA Logo™
Title 19, Customs DutiesRelease 119-110

§3733 Overseas Private Investment Corporation Initiatives

Title 19 › CHAPTER 23 — EXTENSION OF CERTAIN TRADE BENEFITS TO SUB-SAHARAN AFRICA › SUBCHAPTER III — ECONOMIC DEVELOPMENT RELATED ISSUES › § 3733

Last updated Sep 23, 2026|Official source

Summary

Congress wants the Overseas Private Investment Corporation to use its powers to start one or more equity funds to back projects in sub‑Saharan Africa, in addition to the fund it already has. Each fund must be set up as a partnership run by private fund managers and overseen by the Corporation. Money should come from private equity (not guaranteed by the Corporation) and from loans that the Corporation will guarantee. Up to $500,000,000 in combined assets can be used for infrastructure projects. The funds must focus on helping women entrepreneurs and on new investments that create jobs for poor people. Within 6 months after May 18, 2000, and once a year for the next four years, the Corporation’s Board must report to Congress on what it has done to carry out section 2193(e) of title 22 and on any advice from the investment advisory council created under that section.

Full Legal Text

Title 19, §3733

Customs Duties, Source: USLM XML via OLRC

(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)Omitted
(2)Reports to Congress
Within 6 months after May 18, 2000, and annually for each of the 4 years thereafter, the Board of Directors of the Overseas Private Investment Corporation 1 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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 2193(e) of title 22, referred to in subsec. (c)(2), was repealed by Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513. Codification Section is comprised of section 123 of Pub. L. 106–200. Subsec. (c)(1) of section 123 of Pub. L. 106–200 amended section 2193 of Title 22, 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 section 9683 and 9686(d) of Title 22, Foreign Relations and Intercourse.

Reference

Citations & Metadata

Citation

19 U.S.C. § 3733

Title 19, Customs Duties

Last Updated

Sep 23, 2026

Release point: 119-110