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[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4198 Introduced in House (IH)]

104th CONGRESS
  2d Session
                                H. R. 4198

 To authorize a new trade and investment policy for sub-Saharan Africa.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           September 26, 1996

 Mr. Crane (for himself, Mr. Rangel, and Mr. McDermott) introduced the 
 following bill; which was referred to the Committee on International 
  Relations, and in addition to the Committees on Ways and Means, and 
    Banking and Financial Services, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL

 
 To authorize a new trade and investment policy for sub-Saharan Africa.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``African Growth and Opportunity: The 
End of Dependency Act of 1996''.

SEC. 2. FINDINGS.

    The Congress finds that it is in the mutual economic interest of 
the United States and sub-Saharan Africa to expand their trade and 
investment relationship and to build a market-oriented transition path 
for sub-Saharan Africa from dependency on foreign assistance to 
economic self-sufficiency by--
            (1) strengthening and expanding the private sector in sub-
        Saharan Africa;
            (2) encouraging increased trade and investment between the 
        United States and sub-Saharan Africa;
            (3) reducing tariff and nontariff barriers and other trade 
        obstacles;
            (4) expanding United States assistance to sub-Saharan 
        Africa's regional integration efforts;
            (5) negotiating free trade areas;
            (6) establishing a United States-Sub-Saharan Africa Trade 
        and Investment Partnership;
            (7) focusing on countries committed to economic reform;
            (8) establishing a United States-Sub-Saharan Africa 
        Economic Cooperation Forum; and
            (9) continuing to support development assistance for those 
        countries in sub-Saharan Africa attempting to build civil 
        societies.

SEC. 3. STATEMENT OF POLICY.

    The Congress supports the creation of a transition path from 
development assistance to economic self-sufficiency for those sub-
Saharan African countries committed to economic and political reform, 
market incentives, and private sector growth and poverty reduction.

SEC. 4. ELIGIBILITY REQUIREMENTS.

    (a) In General.--A sub-Saharan African country shall be eligible to 
participate in programs, projects, or activities, or receive assistance 
or other benefits under this Act for a fiscal year only if the 
President determines that, with respect to that fiscal year, the 
country has established, or is making continual progress toward 
establishing, a market-based economy, including the establishment and 
enforcement of appropriate policies relating to--
            (1) trade issues, such as protection of intellectual 
        property rights, improvements in standards, testing, labeling 
        and certification, and government procurement;
            (2) the protection of property rights, such as protection 
        against expropriation and a functioning and fair judicial 
        system;
            (3) tax issues, such as reducing high import and corporate 
        taxes, controlling government consumption, and participation in 
        bilateral investment treaties;
            (4) foreign investment issues, such as implementing 
        measures to attract foreign investors and supporting the growth 
        of regional markets;
            (5) regulatory issues, such as eliminating government 
        corruption, minimizing government intervention in the market, 
        and supporting the growth of the private sector; and
            (6) the private ownership of government-controlled economic 
        enterprises.
    (b) Continuing Compliance.--
            (1) Monitor and review of certain countries.--It is the 
        sense of the Congress that the President--
                    (A) should monitor and review on an annual basis 
                the progress of those sub-Saharan African countries 
                that have been determined to be eligible under 
                subsection (a) but are in need of making continual 
                progress in meeting one or more of the requirements of 
                such subsection; and
                    (B) should transmit to the Congress annually a 
                report on the eligibility criteria and eligibility 
                ranking of each country in sub-Saharan Africa.
            (2) Ineligibility of certain countries.--It is further the 
        sense of the Congress that a sub-Saharan African country 
        described in paragraph (1) that has not made continual progress 
        in meeting the requirements in which it is not in compliance 
        should be ineligible to participate in programs, projects, or 
        activities, or receive assistance or other benefits, under this 
        Act.

SEC. 5. ADDITIONAL AUTHORITIES AND INCREASED FLEXIBILITY TO PROVIDE 
              ASSISTANCE UNDER THE DEVELOPMENT FUND FOR AFRICA.

    (a) Declarations of Policy.--The Congress makes the following 
declarations:
            (1) The Development Fund for Africa established under 
        chapter 10 of part I of the Foreign Assistance Act of 1961 (22 
        U.S.C. 2293 et seq.) has been an effective tool in providing 
        development assistance to sub-Saharan Africa since 1988.
            (2) The Development Fund for Africa will complement the 
        other provisions of this Act and lay a foundation for increased 
        trade and investment opportunities between the United States 
        and sub-Saharan Africa.
            (3) Assistance provided through the Development Fund for 
        Africa will continue to support programs and activities that 
        promote the long term economic development of sub-Saharan 
        Africa, such as programs and activities relating to the 
        following:
                    (A) Strengthening primary and vocational education 
                systems.
                    (B) Strengthening health care systems.
                    (C) Strengthening family planning service delivery 
                systems.
                    (D) Supporting democratization, good governance and 
                civil society and conflict resolution efforts.
                    (E) Increasing food security by increasing 
                agricultural production and productivity and increasing 
                real incomes for poor individuals.
                    (F) Promoting an enabling environment for private 
                sector-led growth through economic reform, 
                privatization, and market economic activities.
                    (G) Promoting decentralization and local 
                participation in the development process.
                    (H) Increasing the technical and managerial 
                capacity of sub-Saharan African individuals to manage 
                the economy of sub-Saharan Africa.
                    (I) Ensuring sustainable economic growth through 
                environmental protection.
            (4) The African Development Foundation has a unique 
        congressional mandate to empower the poor to participate fully 
        in development and to increase opportunities for gainful 
        employment, poverty alleviation, and more equitable income 
        distribution in sub-Saharan Africa. The African Development 
        Foundation has worked successfully to enhance the role of women 
        as agents of change, strengthen the informal sector with an 
        emphasis on supporting micro and small sized enterprises, 
        indigenous technologies, and mobilizing local financing. The 
        African Development Foundation should develop and implement 
        strategies for promoting participation of grassroots and 
        informal sector groups such as cooperatives, artisans, and 
        traders into the programs and initiatives established under 
        this Act.
    (b) Additional Authorities.--
            (1) In general.--Section 496(h) of the Foreign Assistance 
        Act of 1961 (22 U.S.C. 2293(h)) is amended--
                    (A) by redesignating paragraph (3) as paragraph 
                (4); and
                    (B) by inserting after paragraph (2) the following:
            ``(3) Democratization and conflict resolution 
        capabilities.--Assistance under this section may also include 
        program assistance--
                    ``(A) to promote democratization, good governance, 
                and strong civil societies in sub-Saharan Africa; and
                    ``(B) to strengthen conflict resolution 
                capabilities of governmental and nongovernmental 
                entities in sub-Saharan Africa.''.
            (2) Conforming amendment.--Section 496(h)(4) of such Act, 
        as amended by paragraph (1), is further amended by striking 
        ``paragraphs (1) and (2)'' in the first sentence and inserting 
        ``paragraphs (1), (2), and (3)''.
    (c) Waiver Authority.--Section 496 of the Foreign Assistance Act of 
1961 (22 U.S.C. 2293) is amended by adding at the end the following:
    ``(p) Waiver Authority.--
            ``(1) In general.--The President may waive any provision of 
        law that earmarks, for a specified country, organization, or 
        purpose, funds made available to carry out this chapter if the 
        President determines that the waiver of such provision of law 
        would provide increased flexibility in carrying out this 
        chapter.
            ``(2) Requirement to supersede waiver authority.--The 
        provisions of this subsection shall not be superseded except by 
        a provision of law enacted after the date of the enactment of 
        the African Growth and Opportunity: The End of Dependency Act 
        of 1996 which specifically repeals, modifies, or supersedes the 
        provisions of this subsection.''.

SEC. 6. UNITED STATES-SUB-SAHARA-AFRICA TRADE AND ECONOMIC COOPERATION 
              FORUM.

    (a) Declaration of Policy.--The Congress declares that 
institutionalized regular high-level meetings between appropriate 
officials of the United States Government and officials of the 
governments of sub-Saharan African countries are important to foster 
close economic ties between the United States and sub-Saharan Africa.
    (b) Establishment.--It is the sense of the Congress that not later 
than 12 months after the date of the enactment of this Act, the 
President should establish a United States-Sub-Saharan Africa Trade and 
Economic Cooperation Forum (hereafter in this section referred to as 
the ``Forum'').
    (c) Requirements.--It is further the sense of the Congress that in 
carrying out the Forum, the President should meet the following 
requirements:
            (1) The President should direct the Secretary of Commerce, 
        the Secretary of the Treasury, the Secretary of State, and the 
        United States Trade Representative to host the first annual 
        meeting with the counterparts of such Secretaries from the 
        governments of sub-Saharan African countries eligible under 
        section 4, and government officials from other appropriate 
        countries in Africa, to discuss expanding trade and investment 
        relations between the United States and sub-Saharan Africa and 
        the implementation of this Act.
            (2)(A) The President should encourage United States 
        nongovernmental organizations to host annual meetings with 
        nongovernmental organizations from sub-Saharan Africa in 
        conjunction with the annual meetings of the Forum for the 
        purpose of discussing the issues described in paragraph (1).
            (B) The President should encourage United States 
        representatives of the private sector to host annual meetings 
        with representatives of the private sector from sub-Saharan 
        Africa in conjunction with the annual meetings of the Forum for 
        the purpose of discussing the issues described in paragraph 
        (1).
            (3) The President should, to the extent practicable, meet 
        with the heads of governments of sub-Saharan African countries 
        eligible under section 4 not less than once every two years for 
        the purpose of discussing the issues described in paragraph 
        (1). The first such meeting should take place not later than 
        twelve months after the date of the enactment of this Act.
    (d) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as may be necessary to carry out this section.

SEC. 7. UNITED STATES-SUB-SAHARAN AFRICA FREE TRADE AREA.

    (a) Declaration of Policy.--The Congress declares that a United 
States-Sub-Saharan Africa Free Trade Area should be established in 
order to serve as the catalyst for increasing trade between the United 
States and sub-Saharan Africa and increasing private sector development 
in sub-Saharan Africa.
    (b) Plan Requirement.--
            (1) In general.--The President shall develop a plan for the 
        purpose of entering into one or more trade agreements with sub-
        Saharan African countries eligible under section 4 in order to 
        establish a United States-Sub-Saharan Africa Free Trade Area 
        (hereafter in this section referred to as the ``Free Trade 
        Area'') by the year 2020.
            (2) Elements of plan.--The plan shall include the 
        following:
                    (A) The specific objectives of the United States 
                with respect to the establishment of the Free Trade 
                Area.
                    (B) The benefits to both the United States and sub-
                Saharan Africa with respect to the Free Trade Area.
                    (C) A detailed timetable for establishing the Free 
                Trade Area.
                    (D) The role of regional and sub-regional 
                organizations in sub-Saharan Africa with respect to the 
                Free Trade Area.
                    (E) Subject matter anticipated to be covered by the 
                agreement for establishing the Free Trade Area and 
                United States laws, programs, and policies that may be 
                affected by the agreement.
                    (F) Proposals to ensure the following:
                            (i) Adequate consultation with the Congress 
                        and the private sector during the negotiation 
                        of the agreement for establishing the Free 
                        Trade Area.
                            (ii) Consultation with the Congress 
                        regarding all matters relating to 
                        implementation of the agreement.
                            (iii) Approval by the Congress of the 
                        agreement.
    (c) Reporting Requirement.--Not later than 12 months after the date 
of the enactment of this Act, the President shall prepare and transmit 
to the Congress a report containing the plan developed pursuant to 
subsection (b).

SEC. 8. ELIMINATING TRADE BARRIERS AND ENCOURAGING EXPORTS.

    (a) Findings.--The Congress finds that--
            (1) the lack of competitiveness of sub-Saharan Africa in 
        the global market, especially in the manufacturing sector, make 
        it a limited threat to market disruption and no threat to 
        United States jobs; and
            (2) annual textile and clothing exports to the United 
        States from sub-Saharan Africa represent less than 1 percent 
        (approximately $350,000,000) of the $43,000,000,000 textile and 
        clothing market in the United States.
    (b) Sense of the Congress.--It is the sense of the Congress that--
            (1) until textile and clothing exports to the United States 
        from sub-Saharan Africa reach much higher levels the safeguard 
        provisions of the Agreement on Textiles and Clothing should not 
        apply to such textile and clothing exports; and
            (2) pursuant to the Agreement on Textiles and Clothing the 
        United States should eliminate the existing quotas on textile 
        and clothing exports to the United States from Kenya and 
        Mauritius.
    (c) Definition.--For purposes of this section, the term ``Agreement 
on Textiles and Clothing'' means the Agreement on Textiles and Clothing 
referred to in section 101(d)(4) of the Uruguay Round Agreements Act 
(19 U.S.C. 3511(d)(4)).

SEC. 9. SUPPORT FOR INITIATIVES OF EXECUTIVE BRANCH IN TRADE AND 
              DEVELOPMENT POLICY FOR AFRICA.

    The Congress supports and encourages implementation of the 
following initiatives included in the report of the President on trade 
and development policy for the countries of Africa that was submitted 
under section 134 of the Uruguay Round Agreements Act (19 U.S.C. 3554) 
on February 5, 1996:
            (1) The creation in the executive branch of a permanent 
        African Trade and Development Coordinating Group, an 
        interagency group to be chaired by the National Security 
        Council and the National Economic Council.
            (2) The creation of a permanent Working Group on Africa 
        within the Trade Promotion Coordinating Committee of the 
        Department of Commerce, which will have primary responsibility 
        for overseeing the implementation of trade and investment 
        policy for sub-Saharan Africa, and for implementation of this 
        Act. The working group shall also be responsible for providing 
        information to and consulting with the Congress with respect to 
        this Act.
            (3) Requesting the International Bank for Reconstruction 
        and Development to provide technical assistance to regional 
        organizations and countries in sub-Saharan Africa that are 
        interested in developing a ``guide to investment regulatory 
        procedures''.
            (4) Support by the United States, where appropriate, of 
        participation by the International Bank for Reconstruction and 
        Development and the International Finance Corporation in 
        providing financing for participation by countries in improving 
        the telecommunications infrastructure of sub-Saharan Africa.
            (5) Consideration by the Export-Import Bank of the United 
        States of making its programs available to support a project in 
        sub-Saharan Africa that extracts minerals for export even in a 
        country that does not meet the Bank's criteria for credit 
        worthiness, if the project is in the private sector and if an 
        escrow account can be established to ensure the repayment of 
        loans provided with the Bank's support.
            (6) The continued availability of the programs of the 
        Export-Import Bank of the United States to support credit 
        worthy infrastructure projects in sub-Saharan Africa.
            (7) Consideration by the Export-Import Bank of the United 
        States of making its programs available for infrastructure 
        projects in sub-Saharan Africa that are carried out by the 
        private sector in countries that may not meet the Bank's 
        criteria for credit worthiness, if the projects are able to 
        generate hard currency for escrow accounts to ensure the 
        repayment of loans provided with the Bank's support.
            (8) The reevaluation by the Trade and Development Agency of 
        the share of its budget allocated for feasibility studies for 
        infrastructure projects in sub-Saharan Africa to determine if 
        it is appropriate to increase that share.
            (9) The increased efforts by the Overseas Private 
        Investment Corporation to encourage United States companies to 
        invest in the countries of sub-Saharan Africa.
            (10) Efforts by United States embassies in the countries of 
        sub-Saharan Africa to encourage their host governments to 
        participate in the ongoing Negotiating Group on Basic 
        Telecommunications of the World Trade Organization in order to 
        encourage the removal of tariff and nontariff barriers, and to 
        foster competition in, the telecommunications sector in those 
        countries.
            (11) Technical assistance by the Department of Energy to 
        the countries of sub-Saharan Africa to assist them in adopting 
        policies that would facilitate private investment in water and 
        power generation.
            (12) Amendments to the Agricultural Trade Development and 
        Assistance Act of 1954 to be proposed by the Department of 
        Agriculture to promote more direct investment in and technology 
        transfer to the countries of sub-Saharan Africa.

SEC. 10. SUB-SAHARAN AFRICA ENTERPRISE FUNDS.

    (a) Purposes.--
            (1) In general.--The purposes of this section are to 
        promote--
                    (A) the development of the private sector in sub-
                Saharan Africa, including the development of small- and 
                medium-sized businesses, the agricultural sector, 
                privatization, and joint ventures among sub-Saharan 
                African businesses and between such businesses and 
                United States businesses; and
                    (B) policies and practices conducive to the 
                development of the private sector in sub-Saharan Africa 
                through loans, grants, equity investments, feasibility 
                studies, technical assistance, insurance, loan 
                guarantees, and other appropriate measures.
            (2) Additional purposes.--In addition to the purposes 
        specified in paragraph (1)--
                    (A) the primary purpose of the Sub-Saharan Africa 
                Equity Enterprise Fund designated under subsection 
                (c)(1)(A) shall be to achieve long-term capital 
                appreciation through equity investments in sub-Saharan 
                Africa; and
                    (B) the primary purpose of the Sub-Saharan Africa 
                Infrastructure Enterprise Fund designated under 
                subsection (c)(1)(A) shall be to achieve long-term 
                capital appreciation through investing in financing for 
                the expansion of businesses in sub-Saharan Africa, 
                restructurings, management buyouts and buyins, 
                businesses with local ownership, privatizations, and 
                other infrastructure projects in sub-Saharan Africa.
    (b) Authorization of Appropriations.--
            (1) Direct loans and loan guarantees.--There are authorized 
        to be appropriated to carry out this section for fiscal year 
        1997--
                    (A) $30,000,000 for the subsidy cost, as defined in 
                section 502(5) of the Federal Credit Reform Act of 
                1990, of direct loans and loan guarantees provided for 
                the Sub-Saharan Africa Equity Enterprise Fund; and
                    (B) $30,000,000 for the subsidy cost, as defined in 
                section 502(5) of the Federal Credit Reform Act of 
                1990, of direct loans and loan guarantees provided for 
                the Sub-Saharan Africa Infrastructure Enterprise Fund.
            (2) Administrative expenses.--There are authorized to be 
        appropriated $6,000,000 to the Administrator of the Agency for 
        International Development for necessary administrative expenses 
        to carry out this section for fiscal year 1997.
            (3) Availability.--Amounts authorized to be appropriated 
        under this subsection are authorized to remain available until 
        expended.
    (c) Designation and Management of Enterprise Funds.--
            (1) In general.--The Administrator of the United States 
        Agency for International Development--
                    (A) shall, through an open competitive bid process, 
                enter into one or more agreements with an investment 
                management company to designate and manage two private, 
                nonprofit organizations as eligible to receive funds 
                and support pursuant to this section for the purposes 
                specified in subsection (a) (for purposes of this 
                section, the organizations so designated shall be 
                referred to as the Sub-Saharan Africa Equity Enterprise 
                Fund and the Sub-Saharan Africa Infrastructure 
                Enterprise Fund (hereinafter in this section referred 
                to as the ``Enterprise Funds'')); and
                    (B) shall have overall responsibility for the 
                oversight and regulation of the investment management 
                company and the Enterprise Funds.
            (2) Consultation with congress.--The Administrator of the 
        United States Agency for International Development shall 
        consult with the leadership of the House of Representatives and 
        the Senate before entering into one or more contracts with an 
        investment management company pursuant to paragraph (1).
            (3) Advisory board.--
                    (A) Establishment.--The Administrator of the United 
                States Agency for International Development shall 
                establish an advisory board for the purpose of 
                assisting the Administrator in carrying out this 
                section.
                    (B) Membership.--The advisory board established 
                pursuant to subparagraph (A) shall be comprised of 
                private citizens of the United States who have 
                extensive experience and expertise in those areas of 
                private sector financing and development in sub-Saharan 
                Africa in which the Enterprise Funds are involved.
    (d) Direct Loans and Loan Guarantees for Enterprise Funds.--
            (1) In general.--From funds appropriated pursuant to 
        subsection (b), the Administrator of the United States Agency 
        for International Development shall provide direct loans to and 
        issue loan guarantees for each Enterprise Fund to enable the 
        Enterprise Fund--
                    (A) to carry out the purposes specified in 
                subsection (a); and
                    (B) subject to paragraph (2)(B), to provide for the 
                administrative expenses of the Enterprise Fund.
            (2) Additional requirements.--The following additional 
        requirements shall apply to loan guarantees under paragraph 
        (1):
                    (A) The total principal amount of loan guarantees 
                which may be issued under paragraph (1) shall not 
                exceed $100,000,000.
                    (B) An Enterprise Fund--
                            (i) may not use more than 3 percent of the 
                        amount of any loan guaranteed under paragraph 
                        (1) for administrative expenses of the 
                        Enterprise Fund; and
                            (ii) may not use more than 3 percent of the 
                        amount of any loan guaranteed under paragraph 
                        (1) for technical assistance and training 
                        activities.
    (e) Eligible Programs and Projects.--
            (1) In general.--An Enterprise Fund shall use the proceeds 
        of any direct loan or loan guarantee under subsection (d) to 
        provide assistance pursuant to this section only for programs 
        and projects that are consistent with the purposes specified in 
        subsection (a).
            (2) Specific programs and projects.--An Enterprise Fund 
        may, in accordance with paragraph (1), provide for the 
        following programs and projects:
                    (A) The establishment of Employee Stock Ownership 
                Plans (ESOPs) in sub-Saharan Africa.
                    (B) The development of indigenous credit unions in 
                sub-Saharan Africa in accordance with the same terms 
                and conditions applicable to the development of 
                indigenous credit unions in Poland and Hungary under 
                section 201(f)(3) of the Support for East European 
                Democracy (SEED) Act of 1989 (22 U.S.C. 5421(f)(3)).
                    (C) The establishment of mutual funds for the 
                purpose of encouraging citizens of sub-Saharan African 
                countries to save and invest.
    (f) Annual Reports.--Not later than January 31, 1998, and January 
31 each subsequent year, each Enterprise Fund shall publish an annual 
report that includes a comprehensive and detailed description of the 
operations, activities, financial condition, and accomplishments of the 
Enterprise Fund under this section for the preceding fiscal year.
    (g) Additional Terms and Conditions.--The following additional 
terms and conditions shall apply to the Enterprise Funds in the same 
manner as such terms and conditions apply to the Polish-American 
Enterprise Fund and the Hungarian-American Enterprise Fund designated 
under section 201 of the Support for East European Democracy (SEED) Act 
of 1989 (22 U.S.C. 5421):
            (1) The provision relating to nonapplicability of other 
        laws under section 201(c) of such Act.
            (2) The provision relating to the private character of the 
        Enterprise Funds under section 201(d)(5) of such Act.
            (3) The provision relating to matters to be considered by 
        the Enterprise Funds under section 201(g) of such Act.
            (4) The provision relating to retention of interest under 
        section 201(h) of such Act.
            (5) The provision relating to the use of United States 
        private venture capital under section 201(i) of such Act, 
        except that, in addition to the methods for raising venture 
        capital under such section, the Enterprise Fund may also raise 
        venture capital from pension funds from appropriate 
        international organizations, including international financial 
        institutions such as the African Development Bank.
            (6) The provision relating to financial instruments for 
        individual investment under section 201(j) of such Act.
            (7) The provision relating to nonapplicability of other 
        laws under section 201(k) of such Act.
            (8) The provision relating to limitation on payments to 
        Enterprise Fund personnel under section 201(l) of such Act.
            (9) The provision relating to independent private audits 
        under section 201(m) of such Act.
            (10) The provision relating to audits by the General 
        Accounting Office under section 201(n) of such Act.
            (11) The provision relating to recordkeeping under section 
        201(o) of such Act.

SEC. 11. EXPORT-IMPORT BANK INITIATIVE.

    (a) Board of Directors To Include Member With Extensive Private 
Sector Experience in Sub-Saharan Africa.--Section 3(c)(8)(B) of the 
Export-Import Bank Act of 1945 (12 U.S.C. 635a(c)(8)(B)) is amended by 
inserting ``, and one such member shall be selected from among persons 
who have extensive private sector experience in sub-Saharan Africa'' 
before the period.
    (b) Advisory Board To Assist Board of Directors in Facilitating 
Assistance to and Investment in Sub-Saharan Africa.--
            (1) In general.--Section 3 of such Act (12 U.S.C. 635a) is 
        amended by adding at the end the following:
    ``(f) The Board of Directors shall take prompt measures to increase 
the loan, guarantee, and insurance programs, and financial commitments, 
of the Bank in sub-Saharan Africa, including through the establishment 
and use of an advisory committee to assist the Board of Directors in 
developing and implementing policies, programs, and financial 
instruments designed to support the expansion of, and increase in, the 
provision of loans, guarantees, and insurance with respect to sub-
Saharan Africa. In addition, the advisory board shall make 
recommendations to the Board of Directors on how the Bank can 
facilitate greater support by United States commercial banks for trade 
and investment with and in sub-Saharan Africa.''.
            (2) Reports to the congress.--Within 6 months after the 
        date of the enactment of this Act, and annually for each of the 
        4 years thereafter, the Board of Directors shall submit to the 
        Congress a report on the steps that the Board has taken to 
        implement section 3(f) of the Export-Import Bank Act of 1945 
        and any recommendations of the advisory board established 
        pursuant to such section.

SEC. 12. ESTABLISHMENT OF ASSISTANT UNITED STATES TRADE REPRESENTATIVE 
              FOR SUB-SAHARAN AFRICA.

    It is the sense of the Congress that--
            (1) the President should establish a position of Assistant 
        United States Trade Representative within the Office of the 
        United States Trade Representative to focus on trade issues 
        relating to sub-Saharan Africa; and
            (2) such Assistant United States Trade Representative 
        should have adequate funding and staff to carry out the duties 
        described in paragraph (1).

SEC. 13. REPORTING REQUIREMENT.

    The President shall submit to the Congress, not later than 1 year 
after the date of the enactment of this Act, and not later than the end 
of each of the next four 1-year periods thereafter, a report on the 
implementation of this Act.
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