39–010 

Calendar No. 489 

113TH CONGRESS REPORT " ! SENATE 2d Session 113–219 

ENERGIZE AFRICA ACT OF 2014 

JULY 24, 2014.—Ordered to be printed 

Mr. MENENDEZ, from the Committee on Foreign Relations, 

submitted the following 

R E P O R T 

[To accompany S. 2508] 

The Committee on Foreign Relations, having had under consideration the bill (S. 2508) to establish a comprehensive United States 

Government policy to assist countries in sub-Saharan Africa to improve access to and the affordability, reliability, and sustainability 

of power, and for other purposes, reports favorably thereon, with 

amendments, and recommends that the bill, as amended, do pass. 

CONTENTS 

Page 

I. Purpose ........................................................................................................... 1 

II. Committee Action .......................................................................................... 1 

III. Background .................................................................................................... 2 

IV. Discussion ....................................................................................................... 3 

V. Cost Estimate ................................................................................................. 7 

VI. Evaluation of Regulatory Impact .................................................................. 7 

VII. Changes in Existing Law .............................................................................. 8 

I. PURPOSE

The purpose of S. 2508 is to establish a comprehensive United 

States government policy to develop and coordinate strategies and 

reforms that improve access to, and the affordability, reliability, 

and sustainability of, power for residents of sub-Saharan Africa. 

The bill also extends the issuing authority of the Overseas Private 

Investment Corporation through 2019 and grants it limited additional authority for certain pilot projects focused on promoting private sector electricity investments in sub-Saharan Africa. S. 2508 

further requires a progress report evaluating the effectiveness of 

policies and investments made by the U.S. in expanding electricity 

access in sub-Saharan Africa. 

II. COMMITTEE ACTION

S. 2508 was introduced on June 19, 2014, by Senator Menendez 

and co-sponsored by Senators Corker, Coons, Isakson, Markey, and 


rfrederick on DSK6VPTVN1PROD with HEARING
2 

Johanns. On June 24, 2014, the committee considered S. 2508 and 

reported it favorably, with amendments. 

The committee took the following action with regard to amendments: 

A manager’s package of amendments passed by voice vote. 

Among other things, the manager’s amendment added language 

authorizing the establishment of an interagency working group to 

coordinate the activities of the executive branch agencies in carrying out the required strategy; added language addressing 

prioritization of assistance for power projects in sub-Saharan Africa 

by the Millennium Challenge Corporation; and added language to 

the Statement of Policy section regarding promotion of an all-ofthe-above energy development strategy for sub-Saharan Africa. 

An amendment offered by Senator Flake to repeal the third proviso of Section 7079(b) of the Consolidated Appropriations Act, 

2010, was defeated by voice vote. 

An amendment offered by Senator Barrasso to strike Title II of 

the bill failed by a roll call vote of 5-11, with Senators Risch, Rubio, 

Johnson, Flake, and Barrasso voting in favor and Senators Menendez, Boxer, Cardin, Shaheen, Durbin, Coons, Udall, Kaine, Murphy, Markey, and Corker opposed. Senators McCain and Paul did 

not vote. 

III. BACKGROUND

Chairman Menendez and Ranking Member Corker introduced S. 

2508 to address the lack of electricity faced by nearly 70 percent 

of sub-Saharan Africa’s population. The legislation addresses solutions to the lack of overall access, lack of access to affordable electricity options, and an inability to ensure sustainable and reliable 

power. It establishes goals of providing access to 50,000,000 subSaharan Africans by 2020 and adding 20,000 megawatts of electricity by 2020. With increased access to electricity, sub-Saharan 

Africans can turn away from unsustainable and unhealthy fuel 

sources such as kerosene, wood, and charcoal. The bill supports financing, regulatory reform, and policy advocacy that will significantly increase the continent’s access to electricity in a responsible 

and financially sustainable way and open new doors to private sector investment, increased public health, and economic growth. 

On June 30, 2013, President Obama announced his ‘‘Power Africa Initiative’’ to address these problems and double the number of 

Africans with access to electricity. Power Africa focuses on 

leveraging private investment to increase financing for power 

projects in sub-Saharan Africa. 

On May 8, 2014, the House of Representatives passed H.R. 2548, 

the Electrify Africa Act of 2014, which seeks to establish a comprehensive United States government policy to develop an appropriate mix of power solutions, including renewable energy, for more 

broadly distributed electricity access. 

S. 2508 provides a framework for a coordinated strategy for the 

United States to work with sub-Saharan Africa in order to improve 

access to electricity. It establishes the goals of providing access to 

50,000,000 sub-Saharan Africans by 2020, and adding 20, 000 

megawatts of electricity by 2020. 

The bill encourages the Overseas Private Investment Corporation 

(OPIC), the United States Agency for International Development 


rfrederick on DSK6VPTVN1PROD with HEARING
3 

(USAID), the U.S. Department of Treasury, the World Bank, the 

African Development Bank, and the U.S. Trade and Development 

Agency to prioritize, as appropriate, loans, assistance, and technical support that promote private investment in projects that increase electricity access and reliability. The bill also encourages 

these agencies to partner with sub-Saharan African governments to 

develop policies that reduce burdensome regulations that hinder 

private investment in the electricity sector. To achieve broader energy access for those currently living beyond the reaches of the existing electricity infrastructure, S. 2508 places an increased emphasis on the promotion and development of off-grid and distributed 

technologies to be used at a local level. 

S. 2508 also reauthorizes the Overseas Private Investment Corporation (OPIC) through 2019, and grants it limited additional authority for certain pilot projects focused on promoting private sector 

electricity investments in sub-Saharan Africa. This legislation also 

creates a new Inspector General to oversee OPIC, which currently 

does not have its own Inspector General. 

The bill also requires a report to the committee in three years 

outlining the strategies, investments, and policy changes being 

made under the legislation. This report would detail the electricity 

access programs U.S. government support and private investment 

are going towards, accompanied with empirical results indicating 

the yielded results of investments in terms of increased electricity 

access and reliability. 

S. 2508 recognizes that improving electricity access in Africa will 

require a broad mix of fuel sources, many of which exist in Africa 

in abundance. S. 2508 therefore takes a fuel neutral, all-of-theabove approach. As called for in the policy section of the bill, Energize Africa anticipates energy access being addressed in sub-Saharan Africa using renewable and non-renewable fuels. These fuels 

include solar, wind, natural gas, and coal. 

The bill also places strong emphasis on the development of economically sound utilities. To ensure appropriate cost-recovery by 

electricity transmission and distribution operators, an appropriate 

policy and legal framework must be in place. For this reason, the 

bill focuses not only on facilitating private sector development of 

electricity generation, the bill also requires implementing industry 

best practices with respect to transmission and distribution such as 

commercial cost recovery practices, regulatory reforms to improve 

efficiencies, strengthening independent regulators, and implementing smart grid technologies. The goal is to ensure that national electric grids, developed with U.S. assistance, will remain financially sustainable over the long term. 

The legislation also aims to improve access to electricity for communities who, because of existing constraints and obstacles, are not 

or will not be linked to national and regional grids in the near 

term. The bill calls for off-grid and mini-grid technologies to be employed as an alternative strategy to provide communities with electricity in an economical way. 

IV. DISCUSSION

A summary of the key provisions of S. 2508, as amended, follows: 


rfrederick on DSK6VPTVN1PROD with HEARING
4 

Section 101 

Section 101 states that the purpose of S. 2508 is to encourage the 

efforts of countries in sub-Saharan Africa to improve access to affordable and reliable power. 

Section 102 

Section 102 declares that it is the policy of the United States, in 

coordination with international financial institutions, sub-Saharan 

African governments and the private sector, to: 

(1) promote first-time access to power and power services in 

sub-Saharan Africa for at least 50,000,000 people by 2020, in 

both urban and rural areas; 

(2) encourage the installation of at least 20,000 additional 

megawatts of electrical power in sub-Saharan Africa by 2020 

through a broad mix of energy options that will reduce poverty, 

promote sustainable development, and drive economic growth; 

(3) promote reliable, affordable, and sustainable power in 

urban areas in order to promote economic growth and job creation; 

(4) promote efficient institutional platforms and financing for 

the provision of electrical service to rural and underserved populations; 

(5) encourage the necessary in-country reforms that will 

make possible the expansion of power access; 

(6) promote reforms of power production, delivery, and pricing, as well as regulatory reforms and transparency, in order 

to support long-term, market-based power generation and distribution; 

(7) promote policies to displace kerosene lighting with safer, 

cleaner technologies; and 

(8) promote an all-of-the-above energy development strategy 

for sub-Saharan Africa. 

Section 103 

Section 103 establishes a multiyear strategy that requires the 

President to establish and submit to Congress, within 180 days, a 

comprehensive multiyear strategy to encourage the efforts of countries in sub-Saharan Africa in implementing national power strategies and developing an appropriate mix of power solutions. The 

strategy must address ways to attract private investment in the 

power sector, both on and off the grid, assess the financial viability 

of power utilities, and be sufficiently flexible to allow for technological innovation in the power sector. Section 103 further states 

the President may establish, as appropriate, an Interagency Working Group to coordinate executive branch agencies involved in the 

implementation of the strategy. The Interagency Working Group 

would also facilitate partnerships between executive agencies, the 

private sector, and other development agencies to ensure effective 

implementation. Section 103 also establishes an African Power Advisory Group, which will be formed to advise the President on how 

to develop and implement the strategy. The group shall be composed of up to 13 members appointed by the President, including 

the Coordinator of the President’s Power Africa Initiative, 7 individuals from the power sector, 3 individuals with experience in 


rfrederick on DSK6VPTVN1PROD with HEARING
5 

working with the African business community, or with African governments, one individual with experience in utility regulation, and 

the official designated pursuant to the National Defense Authorization Act for Fiscal Year 2014 to coordinate efforts to increase 

United States exports to Africa. 

Section 104 

Section 104 expresses the sense of Congress that, as the United 

States deepens its engagement with countries in sub-Saharan Africa pursuant to this Act, priority should be given to countries with 

a demonstrated commitment to reforms that will attract private investment in the electric sector, in making prioritization determinations, the United States should also consider business opportunities 

for the U.S. private sector, the potential for fostering regional trade 

of electricity, opportunities to collaborate with international partners, and the availability of resources. 

Section 105 

Section 105 directs the Administrator of the United States Agency for International Development to, as appropriate, prioritize assistance and loan guarantees to local financial institutions in subSaharan Africa and to establish metric-based targets to measure 

their effectiveness. 

Section 106 

Section 106 requires the Director of the Trade and Development 

Agency to, as appropriate, prioritize the promotion of United States 

private sector participation in energy sector development projects 

and funding of project preparation activities in sub-Saharan Africa. 

Section 107 

Section 107 directs the Overseas Private Investment Corporation 

OPIC to, as appropriate, prioritize investments in the electricity 

sector infrastructure in sub-Saharan Africa, including renewable 

energy projects, intended to maximize the number of people with 

new access to power, improve energy access infrastructure, provide 

reliable power, reduce transmission and distribution losses, improve efficiency, and reduce impediments to business productivity 

and investment. The section also directs OPIC to implement 

streamlined procedures to facilitate these investments. The section 

also requires OPIC to expedite review of applications, encourage 

small- and medium-sized enterprises and cooperative service providers to participate in energy investment activities, and publish 

information on the effects its energy investments have had on economic development. 

Section 108 

Section 108 directs the United States Executive Directors at the 

World Bank Group and the African Development Bank to use the 

voice, vote, and influence of the U.S. to encourage those institutions to prioritize increasing their investment in sub-Saharan electrification projects; provide technical assistance to regulatory authorities to, among other things, remove barriers to commercially 

viable projects, to modify regulatory and legal regimes to reduce 

certain losses, implement cost-based tariffs and provide for comVerDate Mar 15 2010 04:22 Jul 25, 2014 Jkt 039010 PO 00000 Frm 00005 Fmt 6659 Sfmt 6602 E:\HR\OC\SR219.XXX SR219

rfrederick on DSK6VPTVN1PROD with HEARING
6 

mercial cost recovery, reduce corruption and improve transparency, 

and implement reforms that facilitate efficient power generation, 

transmission and distribution, as well as off-grid energy markets; 

use clear, accountable, and metric-based targets to measure effectiveness; and support ongoing efforts to foster grown in the off-grid 

lighting and power markets. 

Section 109 

Section 109 states that the African Development Foundation 

should seek opportunities to make grants and provide technical 

support to businesses and organizations in sub-Saharan Africa that 

qualify and are developing on- and off-grid solutions to meet the 

power needs of rural communities underserved by national grids. 

Section 110 

Section 110 states that the Chief Executive Officer and the Board 

of Directors of the Millennium Challenge Corporation should assess, as appropriate, the extent to which insufficient access to and 

reliability of electricity is a binding constraint on sustainable economic growth in sub-Saharan Africa; and, as appropriate, 

prioritize, among other things, the provision of assistance and engagement with governments in support of private and public sector 

efforts to reform regulatory framework and increase access to electricity, both on- and off-grid. 

Section 111 

Section 111 requires a 3-year evaluation of progress made towards achieving the policy goals of section 103. The report reviews 

policies advocated by the United States that promote increased energy access and electricity sector reform. The report also identifies 

the number and type of projects receiving United States government support, the total costs of the project, the amount of U.S. supported investment, and empirical results of the project in terms of 

increased electricity to businesses, communities, and individuals. 

Section 201 

Section 201 extends OPIC’s issuing authority through 2019. 

Section 202 

Section 202 directs OPIC to develop, within 180 days of enactment of this Act, policies to simplify and streamline the process for 

reviewing and considering of investments, among other things, in 

sub-Saharan Africa under $20 million in order to promote increased investment and reduce administrative costs. 

Section 203 

Section 203 establishes an advisory board to provide OPIC with 

guidance on investing in power projects in Africa. 

Section 204 

Section 204 creates a five year pilot program that would permit 

OPIC to assist, with specific limitations on the size of the assistance, joint ventures or partnerships that are owned, in a controlling share, by U.S. citizens for power projects in sub-Saharan Africa. 


rfrederick on DSK6VPTVN1PROD with HEARING
7 

Section 205 

Section 205 creates a five year pilot project to allow OPIC to invest in power projects by eligible investors in sub-Saharan Africa 

where the Corporation’s total support does not exceed $50,000,000. 

The section also creates a five year pilot program to allow OPIC 

to provide currency guaranties for a local branch of a foreign bank, 

if the project is sponsored by an eligible investor and is a power 

project in sub-Saharan Africa. 

Section 206 

Section 206 allows OPIC to extend the term of obligation for renewable energy projects from 20 years to 30 years for power 

projects in sub-Saharan Africa. 

Section 207 

Section 207 addresses the role of Inspector General for OPIC. 

Currently, OPIC does not have its own inspector general and the 

USAID inspector general oversees OPIC. This provision would create a separate Inspector General for OPIC. 

Section 208 

Section 208 directs OPIC to undertake an annual customer survey to determine how well it is meeting the needs of its customer 

base, consistent with U.S. foreign policy interests. 

Section 209 

Section 209 provides authority for OPIC to hire not more than 

20 additional temporary employees, on a limited-appointment basis 

under existing federal government authorities, specifically for subSaharan Africa power related work. 

Section 210 

Section 210 establishes the sense of Congress that appropriations 

should be made to address the administrative expenses necessary 

for OPIC should for the enactment of the Energize Africa Act 

through the year 2019. 

Section 211 

Section 211 requires OPIC to submit a report within 180 days on 

the effectiveness of its existing authorities for energy and infrastructure projects and whether further authorities, such as the 

ability for OPIC to invest directly in projects, might be appropriate 

or effective. 

V. COST ESTIMATE

In accordance with XXVI, paragraph 11(a) of the Standing Rules 

of the Senate, the committee notes that the cost estimate provided 

by the Congressional Budget Office was not available for inclusion 

in this report. The estimate will be printed in either a supplemental report or the Congressional Record when it is available. 

VI. EVALUATION OF REGULATORY IMPACT

Pursuant to the requirement of paragraph 11(b) of rule XXVI of 

the Standing Rules of the Senate, the committee has considered the 


rfrederick on DSK6VPTVN1PROD with HEARING
8 

regulatory and paperwork impact of S. 2508, as amended, and decided that such impact would be minimal. Section 208 directs OPIC 

to conduct a survey of a sample of its customers to assess the satisfaction of those customers with the operation and procedures of 

OPIC, with particular attention to small businesses and cooperatives. Because the survey would be voluntary, and would be conducted only with a sample of customers, it is the committee’s judgment that the regulatory and paperwork impact of this provision 

would be minimal. 

VII. CHANGES IN EXISTING LAW

In compliance with Rule XXVI, paragraph 12 of the Standing 

Rules of the Senate, changes in existing law made by the bill, as 

reported, are shown as follows (existing law proposed to be omitted 

is enclosed in black brackets, new matter is printed in italic, existing law in which no change is proposed is shown in roman). 

FOREIGN ASSISTANCE ACT OF 1961 

* * * * * * * 

SEC. 233. ORGANIZATION AND MANAGEMENT. (a) * * * 

* * * * * * * 

ø(e) INVESTMENT ADVISORY COUNCIL.—The Board shall take 

prompt measures to increase the loan, guarantee, and insurance 

programs, and financial commitments, of the Corporation in subSaharan Africa, including through the use of an investment advisory council to assist the Board in developing and implementing 

policies, programs, and financial instruments with respect to subSaharan Africa. In addition, the investment advisory council shall 

make recommendations to the Board on how the Corporation can 

facilitate greater support by the United States for trade and investment with and in sub-Saharan Africa. The investment advisory 

council shall terminate 4 years after the date of the enactment of 

this subsection.¿ 

(e) ACTIVITIES IN SUB-SAHARAN AFRICA; INVESTMENT ADVISORY

COUNCIL.— 

(1) IN GENERAL.—The Board should take prompt measures to 

prioritize, as appropriate, the loan, guarantee, and insurance 

programs, and financial commitments, of the Corporation in 

sub-Saharan Africa in the areas of power generation, distribution, and off-grid power and lighting, including through the use 

of an investment advisory council to assist the Board in developing and implementing policies, programs, and financial instruments with respect to sub-Saharan Africa. 

(2) RECOMMENDATIONS.—The investment advisory council described in paragraph (1) shall make recommendations to the 

Board on how the Corporation can facilitate greater support by 

the United States for private sector trade and investment with 

and in sub-Saharan Africa. 

(3) TERMINATION.—The investment advisory council described 

in paragraph (1) shall terminate on December 31, 2018. 

(4) APPLICABILITY OF FEDERAL ADVISORY COMMITTEE ACT.— 

The investment advisory council described in paragraph (1) 


rfrederick on DSK6VPTVN1PROD with HEARING
9 

shall not be subject to the Federal Advisory Committee Act (5 

U.S.C. App.). 

* * * * * * * 

SEC. 235. ISSUING AUTHORITY, DIRECT INVESTMENT AUTHORITY

AND RESERVES.— (a) ISSUING AUTHORITY.— (1) INSURANCE AND FINANCING.—(A) The maximum contingent liability outstanding at any one time pursuant to insurance issued under section 234(a), and the amount of financing 

issued under sections 234(b) and (c), shall not exceed in the aggregate $29,000,000,000. 

(B) Subject to spending authority provided in appropriations 

Acts pursuant to section 504(b) of the Federal Credit Reform 

Act of 1990, the Corporation is authorized to transfer such 

sums as are necessary from its noncredit activities to pay for 

the subsidy and administrative costs of the investment guaranties and direct loan programs under subsections (b) and (c) of 

section 234. 

(2) TERMINATION OF AUTHORITY.—The authority of subsections (a), (b), and (c) of section 234 shall continue until 

ø2007¿ 2019. 

* * * * * * * 

SEC. 237. GENERAL PROVISIONS RELATING TO INSURANCE GUARANTY, AND FINANCING PROGRAM.—(a) * * * 

* * * * * * * 

ø(e) No insurance, guaranty, or reinsurance of any equity investment shall extend beyond twenty years from the date of issuance.¿ 

(e) MAXIMUM TERM OF OBLIGATION.— 

(1) IN GENERAL.—Except as provided in paragraph (2), no insurance, guaranty, or reinsurance of any equity investment 

shall extend beyond 20 years after the date of issuance. 

(2) EXTENDED TERM OF OBLIGATION FOR CERTAIN PROJECTS.— An insurance, guaranty, or reinsurance of an equity investment 

in a renewable energy project in sub-Saharan Africa may extend up to 30 years after the date of issuance. 

* * * * * * * 

SEC. 239. GENERAL PROVISIONS AND POWERS.—(a) * * * 

* * * * * * * 

ø(e) The Inspector General of the Agency for International Development (1) may conduct reviews, investigations, and inspections of 

all phases of the Corporation’s operations and activities and (2) 

shall conduct all security activities of the Corporation relating to 

personnel and the control of classified material. With respect to his 

responsibilities under this subsection, the Inspector General shall 

report to the Board. The agency primarily responsible for administering part I shall be reimbursed by the Corporation for all expenses incurred by the Inspector General in connection with his responsibilities under this subsection.¿ 

* * * * * * * 

(l) ASSESSMENT OF CUSTOMER SATISFACTION.— 

(1) IN GENERAL.—Each fiscal year, the Corporation shall conduct a survey of a sample of its customers to assess the satisfacVerDate Mar 15 2010 04:22 Jul 25, 2014 Jkt 039010 PO 00000 Frm 00009 Fmt 6659 Sfmt 6603 E:\HR\OC\SR219.XXX SR219

rfrederick on DSK6VPTVN1PROD with HEARING
10 

tion of those customers with the operation and procedures of the 

Corporation, with particular attention to customers of the Corporation that are small businesses and cooperatives. 

(2) REPORT TO CONGRESS.—The Corporation shall include in 

its annual report required under section 240A a report on the 

survey conducted under paragraph (1) that includes, as appropriate, summaries of recommendations made by customers of 

the Corporation with respect to ways to improve the operations 

and procedures of the Corporation. 

INSPECTOR GENERAL ACT OF 1978 

* * * * * * * 

SECTION 8G. REQUIREMENTS FOR FEDERAL ENTITIES AND DESIGNATED FEDERAL ENTITIES 

(a) Notwithstanding section 12 of this Act, as used in this section— 

* * * * * * * 

(2) the term ‘‘designated Federal entity’’ means Amtrak, the 

Appalachian Regional Commission, the Board of Governors of 

the Federal Reserve System and the Bureau of Consumer Financial Protection, the Board for International Broadcasting, 

the Commodity Futures Trading Commission, the Consumer 

Product Safety Commission, the Corporation for Public Broadcasting, the Defense Intelligence Agency, the Denali Commission, the Equal Employment Opportunity Commission, the 

Farm Credit Administration, the Federal Communications 

Commission, the Federal Election Commission, the Election 

Assistance Commission, the Federal Housing Finance Board, 

the Federal Labor Relations Authority, the Federal Maritime 

Commission, the Federal Trade Commission, the Legal Services Corporation, the National Archives and Records Administration, the National Credit Union Administration, the National Endowment for the Arts, the National Endowment for 

the Humanities, the National Geospatial-Intelligence Agency, 

the National Labor Relations Board, the National Reconnaissance Office, the National Security Agency, the National 

Science Foundation, the Overseas Private Investment Corporation, the Panama Canal Commission, the Peace Corps, the 

Pension Benefit Guaranty Corporation, the Securities and Exchange Commission, the Smithsonian Institution, the United 

States International Trade Commission, the Postal Regulatory 

Commission, and the United States Postal Service; 

* * * * * * * 

(4) the term ‘‘head of the designated Federal entity’’ means 

the board or commission of the designated Federal entity, or in 

the event the designated Federal entity does not have a board 

or commission, any person or persons designated by statute as 

the head of a designated Federal entity and if no such designation exists, the chief policymaking officer or board of a designated Federal entity as identified in the list published pursuant to subsection (h)(1) of this section, except that— 

(A) with respect to the National Science Foundation, 

such term means the National Science Board; 


rfrederick on DSK6VPTVN1PROD with HEARING
11 

(B) with respect to the United States Postal Service, 

such term means the Governors (within the meaning of 

section 102(3) of title 39, United States Code); 

(C) with respect to the Federal Labor Relations Authority, such term means the members of the Authority (described under section 7104 of title 5, United States Code); 

(D) with respect to the National Archives and Records 

Administration, such term means the Archivist of the 

United States; 

(E) with respect to the National Credit Union Administration, such term means the National Credit Union Administration Board (described under section 102 of the 

Federal Credit Union Act (12 U.S.C. 1752a); 

(F) with respect to the National Endowment of the Arts, 

such term means the National Council on the Arts; 

(G) with respect to the National Endowment for the Humanities, such term means the National Council on the 

Humanities; øand¿ 

(H) with respect to the Peace Corps, such term means 

the Director of the Peace Corps; and 

(I) with respect to the Overseas Private Investment Corporation, such term means the Board of Directors of the 

Overseas Private Investment Corporation (established 

under section 233(b) of the Foreign Assistance Act of 1961 

(22 U.S.C. 2193(b)); 

Æ 


rfrederick on DSK6VPTVN1PROD with HEARING