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

Summary

The Chief Executive Officer must send a written report to the relevant congressional committees at least 15 days before the Corporation makes any financial commitment over $20,000,000 under subchapter II. The report must say the amount, who gets the money, a short description of the project and the Corporation’s impact quotient (the development goal), and whether the Corporation agreed to be a subordinated creditor. If the Corporation did take a subordinated creditor role, the report must include the policy reasons required by section 9623(b)(12). The Chief Executive Officer must also notify the relevant congressional committees within 30 days after entering into a new bilateral agreement under section 9631(a).

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