2020 US Code
Title 19 - Customs Duties
Chapter 23 - Extension of Certain Trade Benefits to Sub-Saharan Africa
Subchapter III - Economic Development Related Issues
Sec. 3733 - Overseas Private Investment Corporation initiatives
| 19 U.S.C. § 3733 (2020) |
| §3733. Overseas Private Investment Corporation initiatives |
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(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) StructureEach 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. 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. 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. 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. Within 6 months after May 18, 2000, and annually for each of the 4 years thereafter, the Board of Directors of the Overseas Private Investment Corporation 1 shall submit to Congress a report on the steps that the Board has taken to implement section 2193(e) 2 of title 22 and any recommendations of the investment advisory council established pursuant to such section. |
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(Pub. L. 106–200, title I, §123, May 18, 2000, 114 Stat. 269.) |
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REFERENCES IN TEXT
Section 2193(e) of title 22, referred to in subsec. (c)(2), was repealed by Pub. L. 115–254, div. F, title VI, §1464(2), Oct. 5, 2018, 132 Stat. 3513. CODIFICATIONSection is comprised of section 123 of Pub. L. 106–200. Subsec. (c)(1) of section 123 of Pub. L. 106–200 amended section 2193 of Title 22, Foreign Relations and Intercourse. TRANSFER OF FUNCTIONSFor transfer of functions, personnel, assets, and liabilities of the Overseas Private Investment Corporation to the United States International Development Finance Corporation and treatment of related references, see sections 9683 and 9686(d) of Title 22, Foreign Relations and Intercourse. |
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1 See Transfer of Functions note below. 2 See References in Text note below. |
| United States Code, 2018 Edition, Supplement 2, Title 19 - CUSTOMS DUTIES |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 19 - CUSTOMS DUTIES CHAPTER 23 - EXTENSION OF CERTAIN TRADE BENEFITS TO SUB-SAHARAN AFRICA SUBCHAPTER III - ECONOMIC DEVELOPMENT RELATED ISSUES Sec. 3733 - Overseas Private Investment Corporation initiatives |
| section 3733 |
| 2020 |
| January 13, 2021 |
| No |
| standard |
| 114 Stat. 269 132 Stat. 3513 |
| Public Law 106-200, Public Law 115-254 |
