,,ii #aadth ,,congress #b;d ,session ,s4 #cbbg ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #ad1 #bjaf ,mr4 ,isakson 7for himself and ,mr4 ,perdue7 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 access to education1 and access to clean water1 as reflected in the ,sustainable ,development ,goals adopted at the ,united ,nations ,sustainable ,development ,summit on ,september #be1 #bjae4 7#b7 ,several of the greatest development success stories of the past #ej years demonstrate that private sector investment and economic growth are fundamental to lifting populations out of poverty4 7#c7 ,a dramatic shift in the composition of capital flows to the developing world necessitates a new approach to official development assistance2 whereas #dj years ago more than #gj percent of capital flowing to developing countries was public sector foreign assistance1 today over #hj percent of capital flowing to the developing world comes from the private sector4 7#d7 ,in order to better leverage ,united ,states foreign assistance dollars and to promote sustainable economic development in partner countries1 the ,united ,states ,government must seek to promote economic growth through private sector investment by consulting ,united ,states business during development planning and programming processes4 7#e7 ,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#f7 ,with #ab departments1 #bf agencies1 and more than #fj ,federal ,government offices involved in the delivery of ,united ,states foreign assistance and the promotion of ,united ,states investment overseas1 it is unnecessarily difficult for ,united ,states businesses to navigate this bureaucracy in search of opportunities to partner with such ,united ,states agencies4 7#g7 ,although many ,united ,states development agencies have taken steps to improve the private sector coordination capabilities of such agencies in recent years1 these agency-specific strategies are not integrated into a coherent interagency coordination structure to effectively engage the private sector4 7#h7 ,the ,united ,states ,government has no streamlined1 interagency mechanism for coordination with the private sector for the purposes of development or promotion of opportunities for investment1 nor are the activities of the ,united ,states ,government in this area guided by a coherent set of strategic objectives1 targets1 or operating principles4 7#i7 ,whether in the context of a country1 sector1 or global development strategy1 decisions regarding program prioritization and resource allocation would benefit greatly from private sector perspectives and market data and coordination with the private sector from the outset4 7#aj7 ,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 on growth as part of the planning processes of these organizations1 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 ,appropriate congressional committees ,the term appropriate congressional committees means-- 7,a7 the ,committee on ,foreign ,relations and the ,committee on ,appropriations of the ,senate2 and 7,b7 the ,committee on ,foreign ,affairs and the ,committee on ,appropriations of the ,house of ,representatives4 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 7#e7 ,united states development agencies ,the term ,united ,states development agencies means-- 7,a7 the ,department of ,state2 7,b7 the ,united ,states ,agency for ,international ,development2 7,c7 the ,millennium ,challenge ,corporation2 7,d7 the ,overseas ,private ,investment ,corporation2 7,e7 the ,trade and ,development ,agency2 7,f7 the ,inter-,american ,foundation2 and 7,g7 the ,african ,development ,foundation4 #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 the programs of such agencies and the private sector and the investment activities of the private sector2 7#b7 integrating private sector input into the planning and programming processes of ,united ,states development agencies2 7#c7 institutionalizing analyses of constraints on growth and investment throughout the planning and programming processes of ,united ,states development agencies2 7#d7 ensuring ,united ,states development agencies are accountable for improving coordination between ,united ,states development programs and private sector investment activities2 and 7#e7 promoting and facilitating private sector investment4 #e4 ,sense of ,congress on ,united ,states ,development ,assistance ,it is the sense of ,congress that-- 7#a7 ,united ,states development assistance should be pursued in a way that aims-- 7,a7 to build and strengthen civic institutions2 7,b7 to provide for public accountability2 and 7,c7 to serve as the basis for a democratic social contract between the people and their government1 and as a basis for graduation from assistance2 7#b7 ,united ,states ,government policies and decisions should be guided by clear benchmarks for the evaluation of partner country commitment to funding development priorities1 including the investing in people metric of the ,millennium ,challenge ,corporation2 7#c7 ,united ,states ,government programs should be guided by a unified strategy1 ambitious targets1 and a robust monitoring1 evaluation1 and public accountability plan2 7#d7 ,united ,states development assistance should aim to help build the capacity of partner countries to raise and commit partner country resources toward development goals1 including-- 7,a7 the capacity to increase revenues2 7,b7 transparent budgeting and expenditures2 7,c7 policies and laws that increase domestic investment2 and 7,d7 the ability to address the illicit flows of capital from domestic and international sources2 7#e7 the ,addis ,ababa ,action ,agenda1 reached at the ,third ,international ,conference on ,financing for ,development1 and the emphasis of the ,addis ,ababa ,action ,agenda on economic growth and the commitment of greater domestic resources towards development goals1 serves as a basis for concrete actions by donors and partner countries to achieve greater accountability and to foster broad-based economic growth and the establishment of prosperous1 middle class-based societies2 7#f7 domestic resource commitments and domestic resource mobilization for development purposes provide a greater chance for sustainability and an alignment of incentives among stakeholders1 including donors1 partner countries1 citizens1 and the private sector that drives economic growth2 7#g7 the domestic resource commitments described in paragraph 7#f7 are opportunities to provide for greater accountability and the building of strong1 just social contracts between people and their governments1 allowing governments to raise revenue1 address citizen priorities1 and be held accountable for results2 and 7#h7 fostering domestic capacity and domestic responsibility for outcomes is the basis of true country ownership and a transition from assistance to sustainability by achieving development goals4 #f4 ,interagency ,strategy and ,mechanism to ,coordinate ,united ,states ,development ,programs and ,private ,sector ,investment ,activities 7a7 ,in general ,the ,president shall establish a primary1 interagency 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 liaison1 coordination1 and investment promotion 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 7c7 ,annual ,strategy 7#a7 ,in general ,not later than #a year after the date of enactment of this ,act1 and annually thereafter1 the ,president shall submit to the appropriate congressional committees a strategy for the facilitation and coordination of private sector investments and activities for the purposes of development4 7#b7 ,elements of the annual strategy ,the annual strategy required under paragraph 7#a7 shall include-- 7,a7 country1 sectoral1 and global targets for private sector investment facilitation and coordination2 7,b7 a description of the specific roles and responsibilities of ,united ,states ,government departments and agencies involved in meeting the targets described in subparagraph 7,a71 including within ,united ,states missions in-country2 and 7,c7 a plan relating to monitoring1 evaluation1 and public accountability4 #g4 ,integrating ,private ,sector ,coordination in ,country1 ,sector1 and ,global ,development ,strategies ,the ,secretary and the ,administrator shall direct their respective policy teams1 including the ,assistant to the ,administrator for the ,bureau of ,policy1 ,planning and ,learning1 and country teams1 to include private sector facilitation and coordination 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 #h4 ,analysis of ,constraints on ,growth and ,investment in ,foreign ,countries and ,sectors 7a7 ,in general ,the ,secretary1 the ,administrator1 and the heads of other relevant ,federal agencies shall ensure that analyses of rigorous1 current constraints on growth and investment guide all country1 region1 and sector economic development strategies4 7b7 ,matters ,to be included ,the analysis required under subsection 7a7 shall include the 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 ,results ,the results of the analyses described under subsection 7a7 shall-- 7#a7 be incorporated into the development strategies of ,united ,states development agencies2 7#b7 be used to inform and guide resource allocations2 and 7#c7 be made available to the public1 and for comment by all stakeholders1 prior to finalization of development strategies4 #i4 ,report ,not later than #a year after the date of the enactment of this ,act1 the ,president shall transmit to the ,committee on ,foreign ,relations of the ,senate and the ,committee on ,foreign ,affairs 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