22 U.S.C. § 2296b: Development of infrastructure

Summary

Creates programs to build the physical infrastructure that countries in the South Caucasus and Central Asia need to work together. It aims to strengthen economic ties and remove obstacles to trade with the United States and other developed countries. To do this, it allows the Export‑Import Bank to finish eligibility reviews for financing, lets the U.S. International Development Finance Corporation offer insurance, reinsurance, loans, or other help, and permits support under section 2421 for the Trade and Development Agency. Those programs can help bring U.S. companies and investors into planning, funding, and building projects. Examples include transportation (roads, rail, air), ports and shipping, energy and pipelines, communications and telecom networks, and trade services like banking and insurance.

Title 22, §2296b

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Purpose of programs

The purposes of programs under this section include—

(1)to develop the physical infrastructure necessary for regional cooperation among the countries of the South Caucasus and Central Asia; and

(2)to encourage closer economic relations and to facilitate the removal of impediments to cross-border commerce among those countries and the United States and other developed nations.

(b)Authorization for programs

To carry out the purposes of subsection (a), the following types of programs for the countries of the South Caucasus and Central Asia may be used to support the activities described in subsection (c):

(1)Activities by the Export-Import Bank to complete the review process for eligibility for financing under the Export-Import Bank Act of 1945 [12 U.S.C. 635 et seq.].

(2)The provision of insurance, reinsurance, financing, or other assistance by the United States International Development Finance Corporation.

(3)Assistance under section 2421 of this title (relating to the Trade and Development Agency).

(c)Activities supported

Activities that may be supported by programs under subsection (b) include promoting actively the participation of United States companies and investors in the planning, financing, and construction of infrastructure for communications, transportation, including air transportation, and energy and trade including highways, railroads, port facilities, shipping, banking, insurance, telecommunications networks, and gas and oil pipelines.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Export-Import Bank Act of 1945, referred to in subsec. (b)(1), is act July 31, 1945, ch. 341, 59 Stat. 526, which is classified generally to subchapter I (§ 635 et seq.) of chapter 6A of Title 12, Banks and Banking. For complete classification of this Act to the Code, see

Short Title

note set out under section 635 of Title 12 and Tables.

Amendments

2018—Subsec. (b)(2). Pub. L. 115–254, which directed amendment of “section 449B(b)(2)” of the Foreign Assistance Act of 1961 by substituting “United States International Development Finance Corporation” for “Overseas Private Investment Corporation”, was executed to this section, which is section 499B of the Foreign Assistance Act of 1961, to reflect the probable intent of Congress.

Statutory Notes and Related Subsidiaries

Effective Date

of 2018 AmendmentAmendment by Pub. L. 115–254 effective at the end of the transition period, as defined in section 9681 of this title, see section 1470(w) of Pub. L. 115–254, set out as a note under section 905 of Title 2, The Congress.

§2296b Development of Infrastructure