,,ii #aacth ,,congress #b;d ,session ,s4 #bhca ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,september #af1 #bjad ,mr4 ,isakson 7for himself and ,mr4 ,rubio7 introduced the following bill2 which was read twice and referred to the ,committee on ,foreign ,relations ,a ,,bill ,to direct the ,president to establish an interagency mechanism to coordinate ,united ,states development programs and private sector investment activities1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,economic ,growth and ,development ,act4 #b4 ,findings ,congress makes the following findings3 7#a7 ,the promotion of sustainable economic growth is the only long-term solution to lifting people out of poverty and addressing development challenges such as infectious disease1 food security1 education1 and access to clean water4 7#b7 ,several of the greatest development success stories in the last #ej years demonstrate how private sector investment and economic growth are fundamental to lifting populations out of poverty4 7#c7 ,there has been a dramatic shift in the composition of capital flows to the developing world4 ,whereas #dj years ago more than #gj percent of capital flowing to developing countries was public sector foreign assistance1 today #hg percent of capital flowing to the developing world comes from the private sector4 7#d7 ,eleven of the #ae largest importers of ,united ,states goods and services are countries that graduated from ,united ,states foreign assistance1 and #ab of the #ae fastest growing markets for ,united ,states exports are former ,united ,states foreign assistance recipients4 7#e7 ,with #ab departments1 #bf agencies1 and more than #fj ,federal ,government offices all involved in the delivery of ,united ,states foreign assistance1 it is extremely difficult for ,united ,states businesses to navigate the bureaucracy in search of opportunities to partner with such ,united ,states agencies4 7#f7 ,although many ,united ,states development agencies have taken steps to improve their private sector coordination capabilities in recent years1 these agency-specific strategies remain opaque and must be integrated into a coherent interagency coordination structure to engage the private sector4 7#g7 ,president ,barack ,obama's #bjaj ,policy ,directive on ,global ,development created an ,interagency ,policy ,committee 7,,ipc7 for ,global ,development4 ,however1 the ,,ipc has not yet established a streamlined1 interagency mechanism for coordination with the private sector4 7#h7 ,in order to better leverage ,united ,states foreign assistance dollars and to promote sustainable economic development in partner countries1 the private sector should be consulted during development planning and programming processes4 7#i7 ,whether it is in the context of country1 sector1 or global development strategy1 decisions on program prioritization and resource allocations would benefit greatly from private sector perspectives and market data4 7#aj7 ,by consulting with the private sector from the outset1 development programs can be designed to better attract private sector investment and to promote public-private partnerships in key development sectors4 7#aa7 ,the ,millennium ,challenge ,corporation and the ,partnership for ,growth both analyze constraints to growth as part of their planning processes1 but these analyses need to be included in agency country1 sector1 and global development strategies to more effectively inform and guide the full spectrum of ,united ,states development programs4 #c4 ,definitions ,in this ,act3 7#a7 ,administrator ,the term ,administrator means the ,administrator of the ,united ,states ,agency for ,international ,development4 7#b7 ,united ,states development agencies ,the term ,united ,states development agencies means the ,department of ,state1 the ,united ,states ,agency for ,international ,development1 the ,millennium ,challenge ,corporation1 the ,overseas ,private ,investment ,corporation1 the ,trade and ,development ,agency1 the ,inter-,american ,foundation1 and the ,african ,development ,foundation4 7#c7 ,private sector ,the term private sector means for-profit ,united ,states businesses4 7#d7 ,secretary ,the term ,secretary means the ,secretary of ,state4 #d4 ,purpose ,the purpose of this ,act is to maximize the impact of ,united ,states development programs by-- 7#a7 enhancing coordination between ,united ,states development agencies and their programs and the private sector and its investment activities2 7#b7 integrating private sector input into ,united ,states development agencies planning and programming processes2 7#c7 institutionalizing analyses of constraints to growth and investment throughout ,united ,states development agencies planning and programming processes2 and 7#d7 ensuring ,united ,states development agencies are accountable for progress toward improving coordination of ,united ,states development programs and private sector investment activities4 #e4 ,interagency mechanism to coordinate ,united ,states development programs and private sector investment activities 7a7 ,in general ,the ,president1 in consultation with the ,secretary1 the ,administrator1 the ,chief ,executive ,officer of the ,millennium ,challenge ,corporation1 the ,department of ,commerce1 and the heads of other ,united ,states agencies that undertake development efforts1 shall establish a primary mechanism to assist the private sector in coordinating ,united ,states development programs with private sector investment activities4 7b7 ,duties ,the mechanism established under subsection 7a7 shall-- 7#a7 streamline and integrate the various private sector liaison functions of ,united ,states development agencies2 7#b7 facilitate the use of various development and finance tools across ,united ,states development agencies to attract greater private sector participation in development activities2 and 7#c7 establish a single point of contact for the private sector for partnership opportunities with ,united ,states development agencies4 #f4 ,integrating private sector consultation in country1 sector1 and global development strategies ,the ,secretary and the ,administrator shall direct their respective policy and country teams to include private sector consultation in all country1 sector1 and global development strategies1 including integrated country strategies1 regional and functional strategies1 country development cooperation strategies1 mission strategic resource plans1 and global development strategies4 #g4 ,analysis of constraints to growth and investment in foreign countries and sectors 7a7 ,in general ,the ,secretary1 the ,administrator1 and the heads of other agencies that conduct relevant development activities shall ensure that rigorous constraints to growth and investment analyses are available and integrated as a component of all appropriate country1 region1 and sector development strategies4 7b7 ,matters ,to be included ,the analysis required under subsection 7a7 shall include1 at a minimum1 an identification and analysis of-- 7#a7 constraints posed by the inadequacies of critical infrastructure1 rule of law1 tax and investment codes1 and customs and regulatory regimes of recipient countries1 as appropriate2 and 7#b7 particular economic sectors that are central to achieving economic growth1 such as agriculture1 transportation1 energy1 and financial services4 7c7 ,conduct ,if a credible constraints analysis meeting the requirements set out in subsection 7b7 for a particular country1 region1 or sector has not already been conducted by another ,united ,states ,government entity or multilateral institution1 the analysis shall be conducted by teams composed of representatives of relevant ,united ,states agencies which will consult with international organizations1 the private sector1 including representatives from commercial sectors of recipient countries1 and other stakeholders4 ,in all instances1 whether using an existing constraints analysis or a specially conducted one1 the constraints analysis shall be made available to the public1 and for comment by all stakeholders prior to finalization of development strategies4 7d7 ,results ,the results of the analysis required under subsection 7a7 shall be incorporated into development strategies of ,united ,states development agencies and shall be used to inform and guide resource allocations4 #h4 ,report ,not later than one year after the date of the enactment of this ,act1 the ,president shall transmit to the ,committee on ,foreign ,relations and the ,committee on ,appropriations of the ,senate and the ,committee on ,foreign ,affairs and the ,committee on ,appropriations of the ,house of ,representatives a report that describes the specific measures that have been taken to implement this ,act and the outcomes that such measures are intended to produce4