I 
117TH CONGRESS 
2D SESSION 
H. R. 7934 
To establish a lending program for Latin America and the Caribbean to 
reaffirm the United States commitment to growth and energy security 
in the Western Hemisphere. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 3, 2022 
Mr. ESPAILLAT introduced the following bill; which was referred to the 
Committee on Foreign Affairs 
A BILL 
To establish a lending program for Latin America and the 
Caribbean to reaffirm the United States commitment 
to growth and energy security in the Western Hemi-
sphere. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Las Americas Energy 
Security Act’’. 
SEC. 2. FINDINGS; PURPOSE; STATEMENT OF POLICY. 
(a) FINDINGS.—Congress finds the following: 
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(1) Energy independence and security are crit-
ical for a country to maintain its sovereignty and 
independence. 
(2) The International Energy Agency (‘‘IEA’’) 
defines energy security as the uninterrupted avail-
ability of energy sources at an affordable price. 
(3) The IEA defines long-term energy security 
as primarily dealing with timely investments to sup-
ply energy in line with economic developments and 
environmental needs. 
(4) The IEA defines short-term energy security 
as focusing on the ability of a country’s energy sys-
tem to react promptly to sudden changes in the sup-
ply-demand balance. 
(5) The IEA found in February 2022 that Rus-
sia’s unlawful invasion of Ukraine poses serious im-
plications for international energy security. 
(6) The Intergovernmental Panel on Climate 
Change (IPCC), a United Nations body that pro-
vides regular assessments on climate change, issued 
its sixth report in February 2022, and found that 
‘‘human-induced climate change, including more fre-
quent and intense extreme events, has caused wide-
spread adverse impacts and related losses and dam-
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ages to nature and people, beyond natural climate 
variability’’. 
(7) The IPCC notes that to avoid mounting loss 
of life, biodiversity, and infrastructure, we must have 
ambitious, accelerated action to adapt to climate 
change, while also making rapid, deep cuts in green-
house gas emissions. 
(8) The World Meteorological Organization’s 
State of the Climate in Latin America and the Car-
ibbean 2020 report found that— 
(A) widespread drought across Latin 
America and the Caribbean has had significant 
impact on inland shipping routes, crop yields, 
and food production, and consequently led to 
worsening food insecurity; 
(B) extreme weather events affected more 
than 8 million people across Central America, 
exacerbating food insecurity in countries al-
ready crippled by economic shocks, COVID–19 
impacts, and conflict; and 
(C) sea-level rise poses a major risk to low- 
lying coastal zones in the Latin America and 
the Caribbean. 
(9) Rising commodity and energy prices, as well 
as other global economic shocks such as those 
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caused by natural disasters, pandemics, and conflict, 
pose a serious food security risk that may lead to so-
cial unrest and instability in Latin America and the 
Caribbean. 
(b) SENSE OF CONGRESS.—It is the sense of Con-
gress that the United States has economic and national 
security interests in assisting Latin America and the Car-
ibbean to achieve energy security. 
(c) STATEMENT OF POLICY.— It is the policy of the 
United States— 
(1) to advance United States foreign policy and 
development goals by helping Latin America and the 
Caribbean meet its short-term energy needs; 
(2) to promote the energy security of Latin 
America and the Caribbean by encouraging the de-
velopment of accessible, transparent, and competitive 
energy markets that provide diversified sources, 
types, and routes of energy, prioritizing renewable 
energy practices that address challenges posed by 
climate change; 
(3) to encourage United States public and pri-
vate sector investment in Latin American and Carib-
bean energy infrastructure projects to bridge the gap 
between energy security requirements and commer-
cial demand in a way that is consistent with the re-
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gion’s absorptive capacity, and that recognizes the 
importance of building and widening the absorptive 
capacity of the region; and 
(4) to help facilitate the export of United States 
energy resources, technology, and expertise to global 
markets in a way that benefits the energy security 
of Latin America and the Caribbean. 
SEC. 3. SOVEREIGN LENDING PROGRAM FOR ELIGIBLE 
LATIN AMERICAN AND CARIBBEAN PARTNER 
COUNTRIES. 
(a) IN GENERAL.—Not later than 30 days after the 
date of the enactment of this Act, the Secretary of the 
Treasury, with the concurrence of the Secretary of State, 
shall establish a sovereign lending program for eligible 
Latin American and Caribbean partner countries— 
(1) to support their short-term energy needs; 
and 
(2) to fund projects that help them transition 
to renewable energy. 
(b) APPLICATION.—To be eligible to receive a loan 
under the program, an eligible Latin American or Carib-
bean partner country shall submit to the Secretary of the 
Treasury an application at such time, in such manner, and 
containing such information as the Secretary may require. 
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(c) LOAN CONDITIONS.—A loan provided under the 
program— 
(1) shall be— 
(A) a zero-interest loan, not to exceed 30 
years in duration; or 
(B) a low-interest concessional loan, not to 
exceed 50 years in duration; 
(2) shall not contain any requirements that an 
eligible Latin American or Caribbean partner coun-
try engage in austerity measures or policies that in-
crease poverty and inequality, diminish the quality of 
life, and threaten the immediate access of goods and 
services; and 
(3) shall be subject to such other terms and 
conditions as the Secretary of Treasury, with the 
concurrence of the Secretary of State, determines to 
be appropriate. 
(d) REPORT.— 
(1) IN
GENERAL.—Not later than 180 days 
after the date of the enactment of this Act, and an-
nually thereafter for 5 years, the Secretary of Treas-
ury, with the concurrence of the Secretary of State, 
shall submit to the Committee on Foreign Affairs of 
the House of Representatives and the Committee on 
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Foreign Relations of the Senate a report on progress 
in the implementation of the program. 
(2) MATTERS TO BE INCLUDED.—The report 
shall— 
(A) include a description of how the pro-
gram strengthens United States national secu-
rity and economic interests in Latin America 
and the Caribbean; 
(B) include an assessment of— 
(i) the status and effectiveness of cur-
rent efforts by regional governments, mul-
tilateral development banks, and the pri-
vate sector to promote energy independ-
ence and security in Latin America and 
the Caribbean and to transition to renew-
able energy practices; 
(ii) major challenges hindering such 
efforts; and 
(iii) how the United States can 
strengthen the effectiveness of such efforts; 
(C) identify how activities by the United 
States Agency for International Development 
and the United States International Develop-
ment Finance Corporation can effectively be le-
veraged to strengthen and promote energy inde-
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pendence and security in Latin America and the 
Caribbean; 
(D) assess diplomatic initiatives taken to 
secure specific national commitments by govern-
ments of eligible Latin American and Caribbean 
partner countries to undertake efforts to create 
favorable conditions for energy security and 
independence in the region, address corruption 
and rule of law concerns, modernize digital and 
physical infrastructure, improve ease of doing 
business, and finance and incentivize energy se-
curity initiatives; and 
(E) detail coordination of efforts with rel-
evant multilateral development banks to ad-
vance energy security and independence of eligi-
ble Latin American and Caribbean partner 
countries. 
(e) ANNUAL AUDIT.—The Secretary of Treasury— 
(1) shall ensure that a full audit of the program 
is performed on an annual basis; and 
(2) shall submit the results of the audit to the 
Committee on Foreign Affairs of the House of Rep-
resentatives and the Committee on Foreign Rela-
tions of the Senate. 
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(f) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to the Secretary of the 
Treasury $100,000,000 for each of fiscal years 2023 
through 2028 to carry out the program. 
(g) ELIGIBLE LATIN AMERICAN
OR CARIBBEAN 
PARTNER COUNTRY DEFINED.—In this section, the term 
‘‘eligible Latin American or Caribbean partner country’’ 
means— 
(1) a country that— 
(A) is a beneficiary country for purposes of 
the Caribbean Basin Economic Recovery Act 
(19 U.S.C. 2701 et seq.); 
(B) is a member state of the Caribbean 
Community 
(commonly 
referred 
to 
as 
‘‘CARICOM’’); or 
(C) is a country in the Western Hemi-
sphere that is a party to a free trade agreement 
or preference program with the United States; 
or 
(2) any other country in the Western Hemi-
sphere, as determined to be appropriate by the Sec-
retary of State. 
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SEC. 4. SUPPORTING EFFORTS TO INCREASE ENERGY SE-
CURITY OF ELIGIBLE LATIN AMERICAN AND 
CARIBBEAN PARTNER COUNTRIES. 
(a) IN GENERAL.—The Secretary of State, in con-
sultation with the Secretary of Energy and the heads of 
other relevant Federal departments and agencies, shall, as 
appropriate, prioritize and expedite the efforts of the De-
partment of State and those other departments and agen-
cies in supporting the efforts of eligible Latin American 
and Caribbean partner countries to increase their energy 
security, including through— 
(1) providing diplomatic and political support to 
these governments, as necessary— 
(A) to facilitate international negotiations 
concerning 
cross-border 
infrastructure 
and 
transactions; 
(B) to enhance and build the Latin Amer-
ica’s and the Caribbean’s regulatory environ-
ment with respect to energy; and 
(C) to develop accessible, transparent, and 
competitive energy markets supplied by diverse 
sources, types, and routes of energy to achieve 
energy efficiency; and 
(2) providing support to improve Latin Amer-
ican and Caribbean energy markets, including early- 
stage project support and late-stage project support 
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for the construction or improvement of energy and 
related infrastructure, as necessary— 
(A) to diversify the energy sources and 
supply routes of eligible Latin American and 
Caribbean partner countries; 
(B) to enhance energy market integration 
across the region; and 
(C) to increase competition and aggregate 
energy markets. 
(b) PROJECT SELECTION.— 
(1) IN
GENERAL.—The Federal departments 
and agencies described in subsection (a) shall iden-
tify energy infrastructure projects that would be ap-
propriate for United States assistance under this 
section. 
(2) PROJECT ELIGIBILITY.—A project is eligible 
for United States assistance under this section if the 
project— 
(A)(i) improves electricity transmission in-
frastructure and power generation through the 
use of a broad power mix, prioritizing renewable 
energy or energy efficiency; or 
(ii) advances electricity storage projects, 
smart grid projects, distributed generation mod-
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els, or other technological innovations, as ap-
propriate; and 
(B) is located in an eligible Latin Amer-
ican of Caribbean partner country. 
(3) PREFERENCE.—In selecting among projects 
that are eligible under paragraph (2), the Federal 
departments and agencies described in subsection 
(a) shall give preference to projects that— 
(A) link the energy systems of two or more 
Latin American and Caribbean partner coun-
tries; 
(B) address the impacts of climate change; 
(C) enhance resilience to global economic 
shocks; 
(D) are expected to enhance energy market 
integration; 
(E) can attract funding from the private 
sector, an international financial institution, or 
the government of the country in which the 
project will be carried out; or 
(F) have the potential to use United States 
goods and services during project implementa-
tion. 
(c) TYPES OF ASSISTANCE.— 
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(1) DIPLOMATIC
AND
POLITICAL
SUPPORT.— 
The Secretary of State shall provide diplomatic and 
political support to the governments of eligible Latin 
American and Caribbean countries, as necessary, in-
cluding by using the diplomatic and political influ-
ence and expertise of the Department of State to 
build the capacity of those countries to resolve any 
impediments to the development of projects selected 
under subsection (b). 
(2) EARLY-STAGE PROJECT SUPPORT.—The Di-
rector of the Trade and Development Agency, in 
consultation with the Inter-American Development 
Bank, the Caribbean Development Bank, and the 
World Bank, shall provide early-stage project sup-
port with respect to projects selected under sub-
section (b), as necessary. 
(3) LATE-STAGE PROJECT SUPPORT.—Federal 
departments and agencies described in subsection 
(a) that provide late-stage project support shall do 
so with respect to projects selected under subsection 
(b), as necessary. 
(d) EXCEPTION FROM CERTAIN LIMITATION UNDER 
BUILD ACT.— 
(1) IN GENERAL.—For purposes of providing 
support for projects under this section— 
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(A) the United States International Devel-
opment Finance Corporation may provide sup-
port for projects in countries with upper-mid-
dle-income economies or high-income economies 
(as those terms are defined by the World 
Bank); 
(B) 
the 
restriction 
under 
section 
1412(c)(2) of the BUILD Act of 2018 (22 
U.S.C. 9612(c)(2)) shall not apply; and 
(C) the Corporation shall restrict the pro-
vision of such support in a country described in 
subparagraph (A) unless— 
(i) the President certifies to the ap-
propriate congressional committees that 
such support furthers the national eco-
nomic or foreign policy interests of the 
United States; and 
(ii) such support is— 
(I) designed to produce signifi-
cant developmental outcomes or pro-
vide developmental benefits to the 
poorest population of that country; or 
(II) necessary to preempt or 
counter efforts by a strategic compet-
itor of the United States to secure 
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significant political or economic lever-
age or acquire national security-sen-
sitive technologies or infrastructure in 
a country that is an ally or partner of 
the United States. 
(e) PROGRESS REPORTS.—Not later than one year 
after the date of the enactment of this Act, and annually 
thereafter for seven years, the President shall transmit to 
the Committee on Foreign Affairs of the House of Rep-
resentatives and the Committee on Foreign Relations of 
the Senate a report on progress made in providing assist-
ance for projects under this section that includes the fol-
lowing: 
(1) A description of the energy infrastructure 
projects the United States has identified for such as-
sistance. 
(2) For each such project— 
(A) A description of the role of the United 
States in the project, including in early-stage 
project support and late-stage project support; 
(B) the amount and form of any debt fi-
nancing and insurance provided by the United 
States Government for the project; 
(C) the amount and form of any early- 
stage project support; and 
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