,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ebii  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,septemb] #aa1        
#bjbe,mr4 ,ma/ introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on ,=eign  
,affairs  ,a ,,bill  ,to modify &       
reau?orize ! ,bett] ,utilization (      
,inve/m5ts ,lead+ to ,developm5t ,act ( 
#bjah1 & = o!r purposes4  #a4 ,%ort     
title ,?is ,act may be cit$ z ! ,,dfc   
,mod]nization ,act ( #bjbe4  #b4 ,s5se (
 ,congress2 /atem5t ( policy  7a7 ,9    
g5]al ,x is ! s5se ( ,congress t !      
,unit$ ,/ates ,int]national ,developm5t 
,f9ance ,corporation %\ld seek to       
responsibly increase its risk tol]ance 9
 inve/m5ts to ensure t ! ,corporation is
 maximiz+ ! mobilization ( private      
capital & prop]ly pursu+ its /atutory   
objectives ( advanc+ ,unit$ ,/ates =eign
 policy1 economic developm5t1 & national
 security goals to make ,am]ica saf]1   
/rong]1 & m prosp]\s1 includ+--  7#a7 by
 m frequ5t use ( "o or m ( a v>iety (   
tools to mitigate risk to ! private     

sector1 includ+ ! use ( equity1 hybrid  
securities1 mezzan9e debt1 accept+      
cr$itor /atus t is subord9ate to t ( o!r
 cr$itors1 us+ p>tial gu>antees1 employ+
 fir/ loss cov]age1 insurance1 & us+    
bl5d$ f9ance2  7#b7 by l5d+1 inve/+1 or 
(f]+ insurance 9 high-risk c\ntries1    
regions1 or sectors z a means to a*ieve 
its mission z a ,unit$ ,/ates =eign     
policy & developm5t ag5cy ( economic    
/atecraft to mobilize capital1 secure   
/rategic ne$s1 & build private m>kets2  
7#c7 by prev5t+ /rategic competitor     
inroads & dom9ance ( key sectors su* z  
infra/ructure1 critical & r>e e>?       
m9]als1 & critical supply *a9s &        
indu/ries1 :i* is 9 ! economic &        
national security int]e/s ( ! ,unit$    
,/ates2 &  7#d7 by assi/+ alli$ & p>tn] 
c\ntries 9 a*iev+ en]gy security ?r\gh  
div]sification ( _! en]gy s\rces &      
supply r\tes :i* is 9 ! economic &      
national security int]e/s ( ! ,unit$    
,/ates4  7b7 ,/atem5t ( policy ,x is !  
policy ( ! ,unit$ ,/ates-- 7#a7 to      

advance ,unit$ ,/ates =eign policy1     
national security1 & economic developm5t
 goals by facilitat+ m>ket-bas$ private 
sector developm5t 9 c\ntries to make    
,am]ica saf]1 /rong]1 & m prosp]\s2     
7#b7 to c\nt] or limit /rategic         
competitor inroads & dom9ance ( key     
sectors su* z infra/ructure1 critical & 
r>e e>? m9]als1 & critical supply *a9s &
 indu/ries ?r\gh support ( div]sifi$    
private sector options & by provid+ a   
robu/ alt]native to & r$uc+ reliance on 
/ate-direct$1 unsu/a9able f9anc+ by     
/rategic competitors ( ! ,unit$ ,/ates2 
7#c7 to advance ,unit$ ,/ates =eign     
policy1 national security1 & economic   
developm5t goals by assi/+ c\ntries to  
r$uce _! dep5d5ce on res\rces f c\ntries
 t use dep5d5ce = undue malign influ5ce 
& t h us$ natural gas1 nucle> en]gy1    
oil1 r>e e>?s1 critical & /rategic      
mat]ials1 & o!r res\rces to co]ce1      
intimidate1 & influ5ce o!r c\ntries2    
7#d7 to promote ! en]gy security ( alli$
 & p>tn] c\ntries by enc\rag+ !         

developm5t ( accessible1 transp>5t1 &   
competitive en]gy m>kets t provide      
div]sifi$ s\rces1 en]gy types1 &        
div]sifi$ en]gy transport & di/ribution 
me?ods & r\tes1 :i* are 9 ! economic &  
national security int]e/s ( ! ,unit$    
,/ates2  7#e7 to enc\rage ,unit$ ,/ates 
public & private sector inve/m5t 9      
en]gy1 telecommunications1 & o!r        
infra/ructure projects 9 alli$ & p>tn]  
c\ntries to bridge ! gap betwe5 security
 requirem5ts & comm]cial dem& consi/5t )
 ! c\ntry's absorptive capacity2  7#f7  
to facilitate ! export ( ,unit$ ,/ates  
en]gy1 telecommunications1 te*nology1   
exp]tise1 & o!r res\rces to global      
m>kets 9 a way t b5efits ! economic &   
national security int]e/s ( ! ,unit$    
,/ates2  7#g7 to support private sector 
developm5t 9 c\ntries t promote economic
 prosp]ity 9 a mann] t c help to curb   
illegal migration & secure ! bord]s ( ! 
,unit$ ,/ates2  7#h7 to facilitate      
procurem5t ( necess>y res\rces & supply 
*a9s = ! b5efit ( ! ,unit$ ,/ates & its 

citiz5s2 &  7#i7 to facilitate          
m>ket-bas$ private sector developm5t &  
economic gr[? ?r\gh ! provision ( cr$it1
 capital1 & o!r f9ancial support by tak+
 on sub/antial f9ancial risk1 & :5      
necess>y f9ancial losses1 to unlock new1
 significant private capital inve/m5ts  
or a*ieve or advance major ,unit$ ,/ates
 =eign policy objectives4 ,losses may be
 expect$1 9 c]ta9 in/ances1 at !        
individual inve/m5t level & f9ancial    
p]=mance may be measur$ at ! ov]all     
portfolio level4  ,i ,,def9itions ,,&   
,,less ,,develop$ ,,c\ntry ,,focus      
#aja4 ,def9itions ,section #adjb ( !    
,bett] ,utilization ( ,inve/m5ts ,lead+ 
to ,developm5t ,act ( #bjah 7#bb        
,u4,s4,c4 #ifja7 is am5d$-- 7#a7 by     
r$esignat+ p>agraphs 7#b71 7#c71 & 7#d7 
z p>agraphs 7#c71 7#d71 & 7#e71         
respectively2  7#b7 by ins]t+ aft]      
p>agraph 7#a7 ! foll[+3  7#b7           
,high-income c\ntry ,! t]m high-income  
c\ntry means a c\ntry ) a high-income   
economy1 z def9$ by ,int]national ,bank 

= ,recon/ruction & ,developm5t & !      
,int]national ,developm5t ,association  
7collectively ref]r$ to z ! ,_w ,bank74 
2  7#c7 9 p>agraph 7#e71 z s            
r$esignat$-- 7,a7 9 subp>agraph 7,a71 by
 /rik+ or at ! end2  7,b7 9 subp>agraph 
7,b71 by /rik+ ! p]iod at ! end & ins]t+
 2 or2 &  7,c7 by add+ at ! end1 !      
foll[+3  7,c7 any o!r simil> in/itution 
t has a purpose t is simil> to !        
purposes ( ! ,corporation z describ$ 9  
section #adab7;b7 ( ?is title4  2 &     
7#d7 by add+ at ! end ! foll[+3  7#f7   
,c\ntry ( conc]n ,! t]m c\ntry ( conc]n 
means any ( ! foll[+ c\ntries3 7,a7 ,!  
,boliv>ian ,republic ( ,v5ezuela4  7,b7 
,! ,republic ( ,cuba4  7,c7 ,!          
,democratic ,p's ,republican ( ,korea4  
7,d7 ,! ,islamic ,republic ( ,iran4     
7,e7 ,! ,p's ,republic ( ,*9a4  7,f7 ,! 
,russian ,f$]ation4  7,g7 ,bel>us4  4   
#ajb4 ,less develop$ c\ntry focus       
,section #adab ( ! ,bett] ,utilization (
 ,inve/m5ts ,lead+ to ,developm5t ,act (
 #bjah 7#bb ,u4,s4,c4 #ifab7 is am5d$-- 

7#a7 by ins]t+ & high income c\ntries & 
areas1 z appropriate1 aft] less develop$
 c\ntries2 &  7#b7 by add+ at ! end !   
foll[+3  7#c7 ,support 9 high-income    
c\ntries & areas ,! ,corporation %all   
re/rict ! provision ( support "u title  
,,ii 9 high-income c\ntries & areas     
unless ! ,presid5t c]tifies to !        
appropriate congressional committees t  
su* support fur!rs ! national economic  
or =eign policy int]e/s ( ! ,unit$      
,/ates4  4  ,,ii ,,managem5t ,,(        
,,corporation  #bja4 ,bo>d ( ,directors 
,section #adac7;b7 ( ! ,bett]           
,utilization ( ,inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifac7;b77 is am5d$-- 7#a7 9 subp>agraph
 7#b77;,a77iii71 by /rik+ #e individuals
 ea* place x appe>s & ins]t+ #c         
individuals2  7#b7 9 subp>agraph        
7#b77;,b77i71 by /rik+ subclause ,,iii &
 ins]t+ ! foll[+3  7,,iii7 ,"o o!r      
pr9cipal (fic] f an executive ,dep>tm5t 
designat$ by ! ,presid5t4  2 &  7#c7 by 
/rik+ subp>agraph 7#d7 & ins]t+ !       

foll[+3  7#d7 ,vice *airp]son ,!        
,presid5t %all appo9t a memb] ( ! ,bo>d 
to s]ve z ! ,vice ,*airp]son ( ! ,bo>d4 
4  #bjb4 ,*ief ,risk ,(fic] ,section    
#adac7;f7 ( ! ,bett] ,utilization (     
,inve/m5ts ,lead+ to ,developm5t ,act ( 
#bjah 7#bb ,u4,s4,c4 #ifac7;f77 is      
am5d$-- 7#a7 9 ! matt] prec$+           
subp>agraph 7,a71 by /rik+ 1 :o-- &     
ins]t+ a p]iod2  7#b7 9 p>agraph 7#a71  
by /rik+ subp>agraphs 7,a7 & 7,b72 &    
7#c7 9 p>agraph 7#b71 by /rik+ audit &  
ins]t+ risk4  #bjc4 ,*ief ,developm5t   
,(fic]  7a7 ,9 g5]al ,section #adac ( ! 
,bett] ,utilization ( ,inve/m5ts ,lead+ 
to ,developm5t ,act ( #bjah 7#bb        
,u4,s4,c4 #ifac7 is am5d$-- 7#a7 9      
subsection 7a71 by /rik+ a ,*ief        
,developm5t ,(fic]12  7#b7 by /rik+     
subsection 7g7 & r$esignat+ subsections 
7h7 & 7i7 z subsections 7g7 & 7h71      
respectively2  7#c7 9 subsection 7g7 z s
 r$esignat$1 by /rik+ p>agraph 7#a7 &   
ins]t+ ! foll[+3  7#a7 ,9 g5]al ,except 
z o!rwise provid$ 9 ?is section1 (fic]s1

 employees1 & ag5ts %all be select$ &   
appo9t$ by or "u ! au?ority ( ! ,*ief   
,executive ,(fic]1 & %all be ve/$ ) su* 
p[]s & duties z ! ,*ief ,executive      
,(fic] or ! designee ( ! ,*ief          
,executive ,(fic] may det]m9e4  2 &     
7#d7 9 subsection 7h71 z s r$esignat$1  
by /rik+ & ! ,*ief ,developm5t ,(fic]14 
7b7 ,*ief ,executive ,(fic] ,section    
#adde ( ! ,bett] ,utilization (         
,inve/m5ts ,lead+ to ,developm5t ,act ( 
#bjah 7#bb ,u4,s4,c4 #ifee7 is am5d$--  
7#a7 by /rik+ subsection 7a7 & ins]t+ ! 
foll[+3  7a7 ,9 g5]al ,! ,*ief          
,executive ,(fic] %all-- 7#a7 develop a 
/rategic relation%ip ) private sector   
entities focus$ at ! nexus ( bus9ess    
opportunities & developm5t priorities2  
7#b7 engage su* entities & r$uce bus9ess
 risks prim>ily ?r\gh direct transaction
 support & facilitat+ inve/m5t          
p>tn]%ips2  7#c7 develop & support      
tools1 approa*es1 & int]m$i>ies t c     
mobilize private f9ance at scale 9 !    
develop+ _w2 &  7#d7 pursue highly      

developm5tal projects ( all sizes1      
especially ^? t are small b design$ = "w
 9 ! mo/ und]develop$ areas1 includ+    
c\ntries ) *ronic suff]+ z a result (   
extreme pov]ty1 fragile in/itutions1 or 
a hi/ory ( viol5ce4  2 &  7#b7 9        
subsection 7c71 by /rik+ ! ,unit$ ,/ates
 ,ag5cy = ,int]national ,developm5t &4  
#bjd4 ,adm9i/ratively det]m9$ positions 
,section #adac7;g77#b7 ( ! ,bett]       
,utilization ( ,inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifac7;g77#b771 z s r$esignat$1 is am5d$
 9 subp>agraph 7,a7 by /rik+ #ej &      
ins]t+ #ajj4  ,,iii ,,au?orities        
,,relat+ ,,to ,,provision ,,( ,,support 
#cja4 ,equity limitation ,section       
#adba7;c77#d77;,a7 ( ! ,bett]           
,utilization ( ,inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifba7;c77#d77;,a77 is am5d$ by /rik+   
#cj & ins]t+ #di4  #cjb4 ,revolv+ equity
 inve/m5t acc\nt  7a7 ,equity ,inve/m5ts
 ,acc\nt ,section #adba7;c7 ( ! ,bett]  
,utilization ( ,inve/m5ts ,lead+ to     

,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifba7;c77 is am5d$ by add+ at ! end !  
foll[+3  7#g7 ,equity ,inve/m5ts ,acc\nt
  7,a7 ,e/abli%m5t ,!re is e/abli%$ 9 ! 
,treasury ( ! ,unit$ ,/ates an ,equity  
,inve/m5ts ,acc\nt ( ! ,unit$ ,/ates    
,int]national ,developm5t ,f9ance       
,corporation 7ref]r$ to 9 ?is subsection
 z ! ,equity ,inve/m5ts ,acc\nt74  7,b7 
,ret5tion ( collections ,collections    
d]iv$ f ! e>n+s1 fees1 cr$its1 & o!r    
collections f ! equity inve/m5ts made   
us+ am\nts 9 ! ,equity ,inve/m5ts       
,acc\nt %all be deposit$ into ! ,equity 
,inve/m5ts ,acc\nt1 & %all be available 
to ! ,corporation )\t fur!r             
appropriation or fiscal ye> limitation =
 c>ry+ out ! purposes ( ?is section4  4 
7b7 ,collections ,section #adcd7;h7 ( ! 
,bett] ,utilization ( ,inve/m5ts ,lead+ 
to ,developm5t ,act ( #bjah 7#bb        
,u4,s4,c4 #ifcd7;h77 is am5d$ by add+   
except e>n+s1 fees1 cr$its1 & o!r       
collections relat$ to equity inve/m5ts f
 ! ,equity ,inve/m5ts ,acc\nt1 aft]     

e>n+s collect$ relat$ to equity         
inve/m5ts14  #cjc4 ,ent]prise funds     
,section #adba7;g7 ( ! ,bett]           
,utilization ( ,inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifba7;g77 is am5d$-- 7#a7 9 p>agraph   
7#a71 by /rik+ ! ,adm9i/rator ( ! ,unit$
 ,/ates ,ag5cy = ,int]national          
,developm5t12 &  7#b7 9 p>agraph        
7#c77;,e71 by /rik+ ,ag5cy =            
,int]national ,developm5t4  #cjd4       
,t]m9ation ,section #adbd7;a7 ( ! ,bett]
 ,utilization ( inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifbd7;a77 is am5d$ by /rik+ ! date t is
 #g ye>s aft] ! date ( ! enactm5t ( ?is 
,act & ins]t+ ,decemb] #ca1 #bjca4  ,,iv
 ,,o!r ,,matt]s  #dja4 ,corporate p[]s  
,section #adcb7;a7 ( ! ,bett]           
,utilization ( ,inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifcb7;a77 is am5d$-- 7#a7 9 p>agraph   
7#b71 by /rik+ division ,c ( subtitle ,i
 (2 &  7#b7 9 p>agraph 7#aj71 by /rik+  
until ! expiration ( ! curr5t lease "u  

pr$ecessor au?ority1 z ( ! day be=e !   
date ( ! enactm5t ( ?is ,act4  #djb4    
,maximum cont+5t liability ,section     
#adcc ( ! ,bett] ,utilization (         
,inve/m5ts ,lead+ to ,developm5t ,act ( 
#bjah 7#bb ,u4,s4,c4 #ifcc7 is am5d$ by 
/rik+ #fj1jjj1jjj1jjj & ins]t+          
#bej1jjj1jjj1jjj4  #djc4 ,au?ority to   
use portion ( corporation fees to update
 in=mation te*nology sy/ems2 transf] (  
funds ,section #adcd ( ! ,bett]         
,utilization ( ,inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifcd7 is am5d$-- 7#a7 9 subsection     
7d7--  7,a7 9 p>agraph 7#a7-- 7i7 9     
subp>agraph 7,b71 by add+ & at ! end2   
7ii7 9 subp>agraph 7,c71 by /rik+ !     
semicolon at ! end & ins]t+ a p]iod2 &  
7iii7 by /rik+ subp>agraph 7,d72 &  7,b7
 9 p>agraph 7#b7-- 7i7 9 subp>agraph    
7,b71 by /rik+ & at ! end2  7ii7 9      
subp>agraph 7,c71 by /rik+ ! p]iod at ! 
end & ins]t+ a semicolon2 &  7iii7 by   
add+ at ! end ! foll[+3  7,d7           
project-specific transaction co/s2 &    

7,e7 transf]s & additions to su* o!r    
acc\nts1 funds1 or res]ves z !          
,corporation may e/abli%1 at su* "t & 9 
su* am\nts z ! ,bo>d may det]m9e4  2    
7#b7 9 subsection 7j71 by ins]t+ 7i7    
title #aj1 ,unit$ ,/ates ,code1 7ii7 !  
,/rategic & ,critical ,mat]ials ,/ock   
,pil+ ,act 7#ej ,u4,s4,c4 #ih et seq471 
or 7iii7 aft] funds au?oriz$ to be      
appropriat$ to c>ry out2 &  7#c7 9      
subsection 7k7--  7,a7 9 p>agraph 7#a71 
by ins]t+ o!r direct co/s associat$ )   
orig9ation or monitor+ s]vices1 includ+ 
sem9>s1 conf]5ces1 & o!r pre-inve/m5t   
s]vices1 aft] legal exp5ses12 &  7,b7 9 
p>agraph 7#b71 by /rik+ does n include &
 ins]t+ includes4  #djd4 ,notifications 
to be provid$ by ! corporation ,section 
#addf7;a7 ( ! ,bett] ,utilization (     
,inve/m5ts ,lead+ to ,developm5t ,act ( 
#bjah 7#bb ,u4,s4,c4 #ifef7;a77 is am5d$
 by /rik+ #aj1jjj1jjj & ins]t+          
#ajj1jjj1jjj4  #dje4 ,mill5nium *all5ge 
corporation  7a7 ,coord9ation ) o!r     
developm5t ag5cies ,section #adce ( !   

,bett] ,utilization ( ,inve/m5ts ,lead+ 
to ,developm5t ,act ( #bjah 7#bb        
,u4,s4,c4 #ifce7 is am5d$ by /rik+ !    
,unit$ ,/ates ,ag5cy = ,int]national    
,developm5t4  7b7 ,s\rces ( in=mation   
,section #adea7;g77#b7 ( ! ,bett]       
,utilization ( ,inve/m5ts ,lead+ to     
,developm5t ,act ( #bjah 7#bb ,u4,s4,c4 
#ifga7;g77#b77 is am5d$ by /rik+ !      
,dep>tm5t ( ,comm]ce's ,c\ntry          
,comm]cial ,guides1 or ! ,mill5nium     
,*all5ge ,corporation's ,con/ra9ts      
,analysis1 & ins]t+ or ! ,dep>tm5t (    
,comm]ce's ,c\ntry ,comm]cial ,guides14 
#djf4 ,/ate-own$ ent]prises ,section    
#adea ( ! ,bett] ,utilization (         
,inve/m5ts ,lead+ to ,developm5t ,act ( 
#bjah 7#bb ,u4,s4,c4 #ifga7 is am5d$ by 
add+ at ! end ! foll[+3  7j7  ,policies 
) respect to /ate-,own$ ent]prises1     
anticompetitive practices1 & c\ntries ( 
conc]n  7#a7  ,policy  ,! ,corporation  
%all develop appropriate policies &     
guidel9es = support provid$ "u title    
,,ii = a project involv+ a /ate-own$    

ent]prise1 sov]eign weal? fund1 or a    
p>a/atal entity to ensure su* support is
 provid$ consi/5t ) appropriate         
pr9ciples & practices ( competitive     
neutrality4  7#b7  ,prohibitions  7,a7  
,anticompetitive practices  ,!          
,corporation may n provide support "u   
title ,,ii = a project t involves a     
private sector entity engag$ 9          
anticompetitive practices4  7,b7        
,c\ntries ( conc]n  ,! ,corporation may 
n provide support "u title ,,ii =       
projects-- 7i7 t involve p>tn]%ips ) !  
gov]nm5t ( a c\ntry ( conc]n or a       
/ate-own$ ent]prise t belongs to or is  
"u ! control ( a =eign c\ntry ( conc]n2 
or  7ii7 t w\ld be op]at$1 manag$1 or   
controll$ by ! gov]nm5t ( a c\ntry (    
conc]n or a /ate-own$ ent]prise t       
belongs to or is "u ! control ( a =eign 
c\ntry ( conc]n4  7#c7  ,def9itions  ,9 
?is subsection3 7,a7 ,/ate-own$         
ent]prise ,! t]m /ate-own$ ent]prise    
means any ent]prise e/abli%$ = a        
comm]cial or bus9ess purpose t is       

directly own$ or controll$ by "o or m   
gov]nm5ts1 includ+ any ag5cy1           
in/rum5tality1 subdivision1 or o!r unit 
( gov]nm5t at any level ( jurisdiction4 
7,b7  ,control  ,! t]m control1 )       
respect to an ent]prise1 means ! p[] by 
any means to control ! ent]prise        
reg>dless (--  7i7 ! level ( own]%ip2 & 
7ii7 :e!r or n ! p[] is ex]cis$4  7,c7  
,own$  ,! t]m own$1 ) respect to an     
ent]prise1 means a majority or controll+
 int]e/1 :e!r by value or vot+ int]e/1 (
 ! %>es ( t ent]prise1 includ+ ?r\gh    
fiduci>ies1 ag5ts1 or o!r means4  7#d7  
,qualify+ sov]eign entity  ,/ate-own$   
ent]prises1 sov]eign weal? funds1 or    
p>a/atal entities t ! ,corporation      
supports1 pursuant to ! policy &        
prohibitions 9 section #djg 7#a7 & 7#b71
 %all be consid]$ z a qualify+ sov]eign 
entity z def9$ 9 section #adjb4  4      
#djg4 ,repeal ( r$undant provisions ( ! 
,european ,en]gy ,security &            
,div]sification ,act ( #bjai ,!         
,european ,en]gy ,security &            

,div]sification ,act ( #bjai 7title ,,xx
 ( division ,p ( ,public ,law #aaf-id2  
#bb ,u4,s4,c4 #ieja note7 is h]eby      
repeal$4