§7709 Congressional and Public Notification

Summary

Requires the Board, through the Chief Executive Officer, to tell the relevant congressional committees at least 15 days before it does any of these things: give assistance under section 7708(g); begin talks to provide assistance through a Compact (section 7704) or an agreement (section 7715); sign a Compact or agreement; or stop assistance under them. If the notice is about planning to negotiate or sign a Compact, it must include a report explaining the economic reasons for the Compact. That report must cover the expected economic rate of return, a cost‑benefit analysis, the impact on people who will benefit, how likely the Compact is to attract private investment, and any other economic facts that support each project. For each concurrent Compact under section 7708, the Board/CEO must give committees a risk management plan at least 60 days before signing. The plan must assess risks such as countries’ commitment and capacity for regional cooperation, political and policy risks (including those that could affect eligibility), risks to economic returns, timing and completion risks, and cost and financial risks, and it must describe steps to reduce those risks (for example, finding other donors or working with regional groups). Within 10 days after signing a Compact, the Board/CEO must post the full Compact on the Corporation’s website, give Congress a detailed summary (and the text if asked), and publish a summary and a notice in the Federal Register saying where the text can be found.