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- Title 19. Customs Duties
- Chapter 23. Extension of Certain Trade Benefits to Sub-Saharan Africa
- Subchapter III. Economic Development Related Issues
19 U.S.C. § 3733 Overseas Private Investment Corporation Initiatives
Library | United States Statutes |
Edition | 2023 Edition |
Currency | Current through P.L. 118-19 (published on www.congress.gov on 10/06/2023) |
(a) Initiation of funds
It is the sense of the Congress that the Overseas Private Investment Corporation 1 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
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