‘‘Development Fund for Africa’’ and not to the account
under the heading ‘‘Development Assistance’’.
TITLE IV—SUB-SAHARAN AFRICA
EQUITY 
AND 
INFRASTRUC-
TURE FUNDS
SEC. 401. SUB-SAHARAN AFRICA EQUITY AND INFRASTRUC-
TURE FUNDS.
(a) INITIATION OF FUNDS.—The Overseas Private
Investment Corporation shall, not later than 12 months
after the date of the enactment of this Act, exercise the
authorities it has to initiate 1 or more equity funds in
support of projects in the countries in sub-Saharan Africa,
in addition to any existing equity fund for sub-Saharan
Africa established by the Corporation before the date of
the enactment of this Act.
(b) STRUCTURE AND TYPES OF FUNDS.—
(1) STRUCTURE.—Each fund initiated under
subsection (a) shall be structured as a partnership
managed by professional private sector fund man-
agers and monitored on a continuing basis by the
Corporation.
(2) CAPITALIZATION.—Each fund shall be cap-
italized with a combination of private equity capital,
which is not guaranteed by the Corporation, and
debt for which the Corporation provides guaranties.
(3) TYPES OF FUNDS.—One or more of the
funds, with combined assets of up to $500,000,000,
shall be used in support of infrastructure projects in
countries of sub-Saharan Africa, including basic
health services (including AIDS prevention and
treatment), including hospitals, potable water, sani-
tation, schools, electrification of rural areas, and
publicly-accessible transportation in sub-Saharan Af-
rican countries.
(c) ADDITIONAL REQUIREMENTS.—The Corporation
shall ensure that—
(1) not less than 70 percent of trade financing
and investment insurance provided through the eq-
uity funds established under subsection (a), and
through any existing equity fund for sub-Saharan
Africa established by the Corporation before the date
of the enactment of this Act, are allocated to small,
women- and minority-owned businesses—
(A) of which not less than 60 percent of
the ownership is comprised of citizens of sub-
Saharan African countries and 40 percent of
the ownership is comprised of citizens of the
United States; and
(B) that have assets of not more than
$1,000,000; and
(2) not less than 50 percent of the funds allo-
cated to energy projects are used for renewal or al-
ternative energy projects.
TITLE 
V—OVERSEAS 
PRIVATE
INVESTMENT 
CORPORATION
AND EXPORT-IMPORT BANK
INITIATIVES
SEC. 501. OVERSEAS PRIVATE INVESTMENT CORPORATION
INITIATIVES.
Section 233 of the Foreign Assistance Act of 1961
is amended by adding at the end the following:
‘‘(e) ADVISORY COMMITTEE.—
‘‘(1) ESTABLISHMENT.—The Board shall estab-
lish and work with an advisory committee to assist
the Board in developing and implementing policies,
programs, and financial instruments with respect to
sub-Saharan Africa, including with respect to equity
and infrastructure funds established under title IV
of the Human Rights, Opportunity, Partnership,
and Empowerment for Africa Act.
‘‘(2) MEMBERSHIP.—
‘‘(A) IN GENERAL.—The advisory commit-
tee established under paragraph (1) shall con-
sist of 15 members, of which 7 members shall
be employees of the United States Government
and 8 members shall be representatives of the
private sector.
‘‘(B) APPOINTMENT.—The members of the
advisory committee shall be appointed as fol-
lows:
‘‘(i) The Speaker and Minority Leader
of the House of Representatives and the
Majority and Minority Leaders of the Sen-
ate shall each appoint 2 members who are
representatives of the private sector and 1
member who is an employee of the United
States Government.
‘‘(ii) The Speaker and Minority Lead-
er of the House of Representatives and the
Majority and Minority Leaders of the Sen-
ate shall jointly appoint the remaining 3
members who are employees of the United
States Government.
‘‘(C) 
ADDITIONAL
REQUIREMENTS.—Of
the 8 members of advisory committee who are
representatives of the private sector—
‘‘(i) at least 4 members shall be rep-
resentatives of not-for-profit public interest
organizations;
‘‘(ii) at least 1 member shall be a rep-
resentative of an organization with exper-
tise in development issues;
‘‘(iii) at least 1 member shall be a
representative of an organization with ex-
pertise in human rights issues;
‘‘(iv) at least 1 member shall be a rep-
resentative of an organization with exper-
tise in environmental issues; and
‘‘(v) at least 1 member shall be a rep-
resentative of an organization with exper-
tise in international labor rights.
‘‘(D) TERMS.—Each member of the advi-
sory committee shall be appointed for a term of
2 years.
‘‘(3) MEETINGS.—
‘‘(A) OPEN TO PUBLIC.—Meetings of the
advisory committee shall be open to the public.
‘‘(B) ADVANCE
NOTICE.—The advisory
committee shall provide advance notice in the
Federal Register of any meeting of the commit-
tee, shall provide notice of all proposals or
projects to be considered by the committee at
the meeting, and shall solicit written comments