programs authorized by this title, if the President determines that the operation of such program in such country is important to the national interest.

(g) 281, 286 The requirements of section 117(c) of this Act relating to environmental impact statements and environmental assessments shall apply to any investment which the Corporation insures, reinsures, guarantees, or finances under this title in connection with a project in a country.

(h) 281, 287 In order to carry out the policy set forth in paragraph (1) of the second undesignated paragraph of section 231 of this Act, the Corporation shall prepare and maintain for each investment project it insures, finances, or reinsures, a development impact profile consisting of data appropriate to measure the projected and actual effects of such project on development. Criteria for evaluating projects shall be developed in consultation with the Agency for International Development.288

(i) 281, 289 The Corporation shall take into account in the conduct of its programs in a country, in consultation with the Secretary of State, all available information about observance of and respect for human rights and fundamental freedoms in such country and the effect the operation of such programs will have on human rights and fundamental freedoms in such country. The provisions of section 116 of this Act shall apply to any insurance, reinsurance, guaranty, or loan issued by the Corporation for projects in a country, except that in addition to the exception (with respect to benefiting needy people) set forth in subsection (a) of such section, the Corporation may support a project if the national security interest so requires.

(j) 290 The Corporation, including its franchise, capital, reserves, surplus, advances, intangible property, and income, shall be exempt from all taxation at any time imposed by the United States, by any territory, dependency, or possession of the United States, or by any State, the District of Columbia, or any county, municipality, or local taxing authority.

(k) 290 The Corporation shall publish, and make available to applicants for insurance, reinsurance, guarantees, financing, or other assistance made available by the Corporation under this title, the policy guidelines of the Corporation relating to its programs.

of the Foreign Assistance Act of 1961 (22 U.S.C. 2421) to promote United States exports to Pakistan.".

286 Subsec. (g) was originally added as subsec. (h) by sec. 2(5)(B) of the OPIC Amendments Act of 1974 (Public Law 93-390). Sec. 4(c) of the OPIČ Amendments Act of 1985 (Public Law 99-204), restated and amended subsec. (g) in its current form. It previously read as follows:

"Within six months after the date of enactment of this subsection, the Corporation shall develop and implement specific criteria intended to minimize the potential environmental implications of projects undertaken by investors abroad in accordance with any of the programs authorized by this title.".

The OPIC_Amendments Act of 1988, S. 2757, enacted into law by reference in the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1989 (Public Law 100– 461; 102 Stat. 2268) replaced "118(c)" with "117(c)".

287 Subsec. (h) was originally added as subsec. (i) by sec. 7(3) of Public Law 95-268 (92 Stat. 215).

288 This consultative function was transferred to the Director of IDCA, pursuant to sec. 6 of Reorganization Plan No. 2 of 1979 (establishing IDCA). The Reorganization Plan No. 2 of 1979 ceased to be effective with enactment of the Foreign Affairs Reform and Restructuring Act of 1998, pursuant to sec. 1422(a)(1) (division G of Public Law 105-277; 112 Stat. 2681).

289 Subsec. (i) was originally added as subsec. (7) by sec. 8 of Public Law 95-268 (92 Stat. 216). 290 Secs. 12 and 13 of the OPIC Amendments Act of 1985 (Public Law 99-204; 99 Stat. 1674), added subsecs. (j) and (k), respectively.

Sec. 240.291 Small Business Development.-The Corporation shall undertake, in cooperation with appropriate departments, agencies, and instrumentalities of the United States as well as private entities and others, to broaden the participation of United States small business, cooperatives, and other small United States investors in the development of small private enterprise in less developed friendly countries or areas. The Corporation shall allocate up to 50 percent of its annual net income, after making suitable provision for transfers and additions to reserves, to assist and facilitate the development of projects consistent with the provisions of this section. Such funds may be expended, notwithstanding the requirements of section 231(a), on such terms and conditions as the Corporation may determine, through loans, grants, or other programs authorized by section 234 and section 234A.

Sec. 240A.292 Reports to the Congress.-After (a) the end of each fiscal year, the Corporation shall submit to the Congress a complete and detailed report of its operations during such fiscal year. Such report shall include

(1) an assessment, based upon the development impact profiles required by section 239(h), of the economic and social development impact and benefits of the projects with respect to which such profiles are prepared, and of the extent to which the operations of Corporation complement or are compatible with the development assistance programs of the United States and other donors; and

(2) a description of any project for which the Corporation

(A) refused to provide any insurance, reinsurance, guaranty, financing, or other financial support, on account of violations of human rights referred to in section 239(i); or

(B) notwithstanding such violations, provided such insurance, reinsurance, guaranty, financing, or financial support, on the basis of a determination (i) that the project will directly benefit the needy people in the country in which the project is located, or (ii) that the national security interest so requires.

(b) 293 (1) Each annual report required by subsection (a) shall contain projections of the effects on employment in the United States of all projects for which, during the preceding fiscal year, the Corporation initially issued any insurance, reinsurance, or guaranty or made any direct loan. Each such report shall include projections of

(A) the amount of United States exports to be generated by those projects, both during the start-up phase and over a period of years;

29122 U.S.C. 2200. This new sec. 240 was added by sec. 9 of Public Law 95–268 (92 Stat. 216). Previously, sec. 240 had concerned agricultural credit and self-help community development projects but had been repealed by the FA Act of 1974.

2222 U.S.C. 2200a. Sec. 240A, as added by sec. 105 of the FA Act of 1969 and amended by sec. 2(7) of Public Law 93-390, was amended and restated by sec. 10 of Public Law 95-268 (92 Stat. 216).

253 Subsec. (b), which required a one-time report to Congress on the development of private and multilateral programs for investment insurance and any reinsurance arrangements OPIC had made with private insurance companies, multilateral organizations and institutions, or other entities, was struck out by sec. 9(a)2) of the OPIC Amendments Act of 1981 (Public Law 97-65; 95 Stat. 1024).

(B) the final destination of the products to be produced as a result of those projects; and

(C) the impact such production will have on the production of similar products in the United States with regard to both domestic sales and exports.

(2) 294 The projections required by this subsection shall be based on an analysis of each of the projects described in paragraph (1). (3) 294 In reporting the projections on employment required by this subsection, the Corporation shall specify, with respect to each project

(A) any loss of jobs in the United States caused by the project, whether or not the project itself creates other jobs;

(B) any jobs created by the project; and

(C) the country in which the project is located, and the economic sector involved in the project.

No proprietary information may be disclosed under this paragraph. (c)(1) 295 *** [Repealed-1988]

295**

(d) The Corporation shall maintain as part of its records

(1) all information collected in preparing the report required by subsection (c) (as in effect before the enactment of the Overseas Private Investment Corporation Amendments Act of 1988),296 whether the information was collected by the Corporation itself or by a contractor; and

(2) a copy of the analysis of each project analyzed in preparing the reports required by either subsection (b) or (c) (as in effect before the enactment of the Overseas Private Investment Corporation Amendments Act of 1988),296

(e) 297 Each annual report required by subsection (a) shall include an assessment of programs implemented by the Corporation under section 234A(a), including the following information, to the extent such information is available to the Corporation:

(1) The nature and dollar value of political risk insurance provided by private insurers in conjunction with the Corporation, which the Corporation was not permitted to provide under this title.

(2) The nature and dollar value of political risk insurance provided by private insurers in conjunction with the Corporation, which the Corporation was permitted to provide under this title.

294 Sec. 108 of the Jobs Through Exports Act of 1992 (Public Law 102-549; 106 Stat. 3654) struck out the former par. (2), and inserted new paras. (2) and (3).

295 Sec. 240A(c) was repealed by sec. 110(b)(1) of the OPIC Amendments Act of 1988, S. 2757, enacted into law by reference in the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1989 (Public Law 100-461; 102 Stat. 2268). Subsec. (c) had required that OPIC submit to Congress not later than December 31, 1987, a report analyzing the actual effects, as of September 30, 1986, on employment in the United States of all projects with respect to which any insurance, reinsurance, or guaranty issued by the Corporation was in effect on September 30, 1986, or with respect to which repayments on direct loans by the Corporation were being made as of that date.

296 Sec. 110(b)(2) of the OPIC Amendments Act of 1988, S. 2757, enacted into law by reference in the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1989 (Public Law 100-461; 102 Stat. 2268), added the parenthetical text following "(c)".

297 Sec. 105(b) of the OPIC Amendments Act of 1988, S. 2757, enacted into law by reference in the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1989 (Public Law 100-461; 102 Stat. 2268), amended Sec. 240A by redesignating subsec. (e) as (f) and inserting a new subsec. (e).

(3) The manner in which such private insurers and the Corporation cooperated in recovery efforts and claims management.

(f) 297 Subsections (b) and (e) do not require the inclusion in any report submitted pursuant to those subsections of any information which would not be required to be made available to the public pursuant to section 552 of title 5, United States Code (relating to freedom of information).

SEC. 240B.298 PROHIBITION ON NONCOMPETITIVE AWARDING OF INSURANCE CONTRACTS ON OPIC SUPPORTED EXPORTS.

(a) REQUIREMENT FOR CERTIFICATION.—

(1) IN GENERAL.-Except as provided in paragraph (3), the investor on whose behalf insurance, reinsurance, guaranties, or other financing is provided under this title with respect to a project shall be required to certify to the Corporation that any contract for the export of goods as part of that project will include a clause requiring that United States insurance companies have a fair and open competitive opportunity to provide insurance against risk of loss of such export.

(2) WHEN CERTIFICATION MUST BE MADE.-The investor shall be required, in every practicable case, to so certify before the insurance, reinsurance, guarantee, or other financing is provided. In any case in which such a certification is not made in advance, the investor shall include in the certification the reasons for the failure to make a certification in advance.

(3) EXCEPTION.-Paragraph (1) does not apply with respect to an investor who does not, because of the nature of the investment, have a controlling interest in fact in the project in question.

(b) REPORTS BY THE UNITED STATES TRADE REPRESENTATIVE.– The United States Trade Representative shall review the actions of the Corporation under subsection (a) and, after consultation with representatives of United States insurance companies, shall report to the Congress in the report required by section 181(b) of the Trade Act of 1974 with respect to such actions.

(c) DEFINITIONS.-For purposes of this section

(1) the term "United States insurance company" includes(A) an individual, partnership, corporation, holding company, or other legal entity which is authorized, or in the case of a holding company, subsidiaries of which are authorized, by a State to engage in the business of issuing insurance contracts or reinsuring the risk underwritten by insurance companies; and

(B) foreign operations, branches, agencies, subsidiaries, affiliates, or joint ventures of any entity described in subparagraph (A);

(2) United States insurance companies shall be considered to have had a "fair and open competitive opportunity to provide insurance" if they

29622 U.S.C. 2200b. Sec. 109 of the Jobs Through Exports Act of 1992 (Public Law 102-549; 106 Stat. 3654) added sec. 240B. Previously, sec. 240B addressed the return of appropriated funds by the Corporation to the general fund of the Treasury.

(A) have received notice of the opportunity to provide insurance; and

(B) have been evaluated on a nondiscriminatory basis; and

(3) the term "State" includes the District of Columbia and any commonwealth, territory, or possession of the United States.

Title V-Disadvantaged Children in Asia 299

Sec. 241.300 Assistance to Certain Disadvantaged Children in Asia. (a) The Congress recognizes the humanitarian needs of disadvantaged children in Asian countries where there has been or continues to be a heavy presence of United States military and related personnel in recent years. Moreover, the Congress finds that inadequate provision has been made for the care and welfare of such disadvantaged children, particularly those fathered by the United States citizens.

(b) Accordingly, the President is authorized to expend up to $3,000,000 301 of funds made available under chapter 1 of this part, in addition to funds otherwise available for such purposes, to help meet the needs of these disadvantaged children in Asia by assisting in the expansion and improvement of orphanages, hostels, day care centers, school feeding programs, and health, education, and welfare programs. Assistance provided under this section shall be furnished under the auspices of and by international organizations or private voluntary agencies operating within, and in cooperation with, the countries of Asia where these disadvantaged children reside.

*

Title VI—Alliance for Progress 302 * * [Repealed-1978]

Title VII-Evaluation of Programs 303 * * * [Repealed-1978]

Title VIII—Southeast Asia Multilateral and Regional Programs 304 *

[Repealed-1978]

Title IX-Utilization of Democratic Institutions in Development 305 Sec. 281.306 Utilization of Democratic Institutions in Development. (a) 307 In carrying out programs authorized in this chapter and chapter 1,308 emphasis shall be placed on assuring

299 Sec. 116 of the International Development and Food Assistance Act of 1978 (Public Law 95-424; 92 Stat. 952) struck out the title heading "Development Research" and added this new heading for title V.

300 22 U.S.C. 2201. This new sec. 241 was added by sec. 116 of the International Development and Food Assistance Act of 1978 (Public Law 95-424; 92 Stat. 952). Previously, sec. 241 had contained the general authority under title V but had been repealed by Public Law 94-161 (89 Stat. 849).

301 Sec. 903(a) of the International Security and Development Cooperation Act of 1985 (Public Law 99-83; 99 Stat. 190) increased the authorization of funds from $2,000,000 to $3,000,000. 302 Title VI, as added by the FA Act of 1962, was repealed by sec. 102(g)1XA) of the International Development and Food Assistance Act of 1978 (Public Law 95-424, 92 Stat. 942).

303 Title VII, as added by the FA Act of 1963, was repealed by sec. 102(g) 1XA) of the International Development and Food Assistance Act of 1978 (Public Law 95-424; 92 Stat. 942). 304 Title VIII, as added by the FA Act of 1966, was repealed by sec. 102(g)(1)(A) of the International Development and Food Assistance Act of 1978 (92 Stat. 942).

305 Title IX was added by sec. 106 of the FA Act of 1966.

306 22 U.S.C. 2218. Sec. 281 was added by sec. 106 of the FA Act of 1966.

307 Subsec. designation "(a)" and subsecs. (b), (c) and (d) were added by sec. 108, of the FA Act of 1967.

308 The words "and chapter 1" were added by sec. 102(g)2XA) of the International Development and Food Assistance Act of 1978 (Public Law 95-424, 92 Stat. 942).