573 
particular need of immediate attention to prevent the loss 
of unique biological life or valuable ecosystem. 
SEC. 6204. ELIGIBLE COUNTRIES. 
In order for a foreign country to be eligible to partici-
pate in a commercial debt-for-nature exchange under this 
subtitle the foreign country shall be a developing country 
that— 
(1) meets the requirements of section 6104; and 
(2) the Administrator determines— 
(A) is fully committed to the long-term via-
bility of the program or project that is to be un-
dertaken through the commercial debt-for-na-
ture exchange; 
(B) has prepared a long-term plan, or a 
private conservation group has prepared a long- 
term plan for the country, which adequately 
provides for the long-term viability of the pro-
gram or project that is to be undertaken 
through the commercial debt-for-nature ex-
change or that such a plan will be prepared in 
a timely manner; and 
(C) has a government agency or a local 
nongovernmental organization, or combination 
thereof, with the capability, commitment, and 
record of environmental concern to oversee the 
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long-term viability of the program or project 
that is to be undertaken through the commer-
cial debt-for-nature exchange. 
SEC. 6205. PROHIBITION. 
The United States Government is prohibited from ac-
cepting title or interest in any land in a foreign country 
as a condition on the commercial debt-for-nature ex-
change. 
TITLE 
VII—EXPANDING 
PROS-
PERITY 
THROUGH 
TRADE 
AND INVESTMENT 
SEC. 7001. FINDINGS. 
Congress finds the following: 
(1) Fostering economic growth is essential to 
sustaining the impact of United States development 
assistance. 
(2) United States development assistance must 
be supplemented by developmentally beneficial pri-
vate investment, which can be stimulated by United 
States-sponsored programs. 
(3) Attracting and retaining private investment 
requires improvements in the investment climate of 
developing countries, which require United States 
technical assistance. 
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(4) Increasing exports is necessary for sus-
tained economic growth in most developing coun-
tries, because domestic consumption is usually inad-
equate to stimulate and sustain increases in gross 
domestic product, employment, and personal income. 
(5) For most developing countries, receipt of 
additional loans would be counterproductive, exacer-
bating existing high debt levels that consume scarce 
domestic financial resources. 
SEC. 7002. AUTHORITY FOR COORDINATION. 
(a) IDENTIFICATION OF PRIORITY COUNTRIES.—In 
preparing the United States Strategy for Global Develop-
ment under section 1017, the Interagency Policy Com-
mittee on Global Development shall identify a list of pri-
ority countries which would substantially benefit from 
United States programs to stimulate private investment 
flows and to provide technical assistance to attract and 
sustain such investment, taking into account each coun-
try’s— 
(1) high-level political leadership and commit-
ment to development progress; 
(2) potential for rapid and sustained economic 
growth; and 
(3) importance to United States national inter-
ests and development goals. 
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(b) JOINT COUNTRY ACTION PLAN.—For each coun-
try identified as a priority country under subsection (a), 
the Interagency Policy Committee on Global Development 
shall— 
(1) undertake a rigorous joint analysis of con-
straints to growth, in partnership with the priority 
country and in consultation with the United States, 
international, and local private sectors, the donor 
community, civil society organizations, and relevant 
experts; 
(2) develop a joint country action plan that out-
lines potential tools, reforms, technical assistance, 
and resources that can be applied over the next five 
years to address the highest-priority constraints to 
growth; 
(3) coordinate and integrate the joint country 
action plan with Country Development Cooperation 
Strategies and related policies and programs; and 
(4) establish high-level mutual accountability 
for implementation, including through transparency 
and fact-based monitoring and evaluation. 
(c) DIRECTION OF RESOURCES.—The Interagency 
Policy Committee on Global Development may direct the 
resources of the Department of State, the United States 
Agency for International Development, the Overseas Pri-
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577 
vate Investment Corporation, the Trade and Development 
Agency, and the Millennium Challenge Corporation to be 
made available to carry out the country plan. 
Subtitle A—Overseas Private 
Investment Corporation 
SEC. 7101. CREATION AND PURPOSE. 
(a) CREATION.—There is established the Overseas 
Private Investment Corporation (in this subtitle referred 
to as the ‘‘Corporation’’), which shall be an agency of the 
United States under the policy guidance of the Secretary 
of State and the Interagency Policy Committee on Global 
Development. 
(b) PURPOSE.— 
(1) IN GENERAL.—The primary purpose of the 
Corporation shall be to mobilize and facilitate the 
participation of United States private capital in the 
economic and social development of less developed 
countries, thereby complementing the foreign policy 
and development assistance objectives of the United 
States. 
(2) RESPONSIBILITIES.—In carrying out its 
purpose, the Corporation shall undertake— 
(A) to conduct financing, insurance, and 
reinsurance operations on a self-sustaining 
basis, taking into account in its financing oper-
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