§9601 Definitions

Summary

Defines key words used in the chapter. Advancing income country — a country whose gross national income per person at the start of the fiscal year is above the World Bank level that triggers the IBRD graduation process but not above the World Bank cutoff for a high‑income economy. Appropriate congressional committees — the Senate Foreign Relations and Senate Appropriations Committees, and the House Foreign Affairs and House Appropriations Committees. Country of concern — Venezuela, Cuba, North Korea, Iran, China, Russia, and Belarus. High‑income country — any country the World Bank calls a high‑income economy at the start of the fiscal year, except wealthy countries unless investments are allowed under section 9612(f). Less developed country — a country whose gross national income per person at the start of the fiscal year is at or below the World Bank level that starts IBRD graduation. Predecessor authority — authorities repealed by subchapter VI. Qualifying sovereign entity — a foreign state agency or instrumentality with a purpose like the Corporation’s (see section 9612(b)), or an international financial institution (see section 262r(c)). Wealthy country — one of the top 20 countries by GDP per capita at purchasing‑power parity per the World Bank; does not include Five Eyes members or their overseas territories.