‘‘(II) the host country where the project 
is to be carried out has in place or is taking 
the necessary steps to establish functioning 
systems for— 
‘‘(aa) accurately accounting for 
revenues and expenditures in connec-
tion with the extraction and export of 
the type of natural resource to be ex-
tracted or exported; 
‘‘(bb) the independent audit of 
such revenues and expenditures and the 
widespread public dissemination of the 
finding of the audit; and 
‘‘(cc) verifying government re-
ceipts against company payments, in-
cluding widespread dissemination of 
such payment information, and disclo-
sure of such documents as host govern-
ment agreements, concession agree-
ments, and bidding documents, and al-
lowing in any such dissemination or 
disclosure for the redaction of, or ex-
ceptions for, information that is com-
mercially proprietary or that would 
create a competitive disadvantage. 
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‘‘(B) EXCEPTION.—If a host country does 
not meet the requirements of subparagraph 
(A)(ii) (I) or (II), the Corporation may approve 
a contract of insurance, reinsurance, or a guar-
anty, or enter into an agreement to provide fi-
nancing for a project in the host country if the 
Corporation determines it is in the foreign pol-
icy interest of the United States for the Corpora-
tion to provide support for the project in the host 
country and the host country does not prevent an 
eligible investor from complying with subpara-
graph (A)(i). 
‘‘(3) PREFERENCE
FOR
CERTAIN
PROJECTS.— 
With respect to all projects that significantly involve 
an extractive industry, the Corporation, to the extent 
practicable and consistent with the Corporation’s de-
velopment objectives, shall give preference to a project 
in which the eligible investor has agreed to implement 
the Extractive Industries Transparency Initiative 
principles and criteria, or substantially similar prin-
ciples and criteria, and the host country where the 
project is to be carried out has committed to the Ex-
tractive Industries Transparency Initiative principles 
and criteria, or substantially similar principles and 
criteria. 
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‘‘(4) EFFECT ON OTHER REQUIREMENTS.—Noth-
ing in this subsection shall affect the limitations and 
prohibitions with respect to direct investments de-
scribed in section 234(c). 
‘‘(5) REPORTING REQUIREMENT.—The Corpora-
tion shall include in its annual report required under 
section 240A a description of its activities to carry 
out this subsection. 
‘‘(c) DEFINITIONS.—In this section: 
‘‘(1) CLEAN
ENERGY
TECHNOLOGY.—The term 
‘clean energy technology’ means an energy supply or 
end-use technology that, compared to a similar tech-
nology already in widespread commercial use in a 
host country, will— 
‘‘(A) reduce emissions of greenhouse gases; 
or 
‘‘(B) decrease the intensity of energy usage. 
‘‘(2) GREENHOUSE GAS.—The term ‘greenhouse 
gas’ means— 
‘‘(A) carbon dioxide; 
‘‘(B) methane; 
‘‘(C) nitrous oxide; 
‘‘(D) hydrofluorocarbons; 
‘‘(E) perfluorocarbons; or 
‘‘(F) sulfur hexafluoride. 
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‘‘(3) EXTRACTIVE INDUSTRY.—The term ‘extrac-
tive industry’ refers to an enterprise engaged in the 
exploration, development, or extraction of oil and gas 
reserves, metal ores, gemstones, industrial minerals 
(except rock used for construction purposes), or coal.’’. 
SEC. 6. INCREASED TRANSPARENCY. 
(a) IN GENERAL.—Section 231A(c)(2) of the Foreign 
Assistance Act of 1961 (22 U.S.C. 2191a) is amended by 
replacing (c)(2) with the following paragraph: 
‘‘(2) In conjunction with each meeting of its Board 
of Directors, the Corporation shall hold a public hearing 
in order to afford an opportunity for any person to present 
views regarding the activities of the Corporation. The Cor-
poration shall notice such a hearing at least 20 days in 
advance. At least 15 days in advance of such hearing the 
Corporation shall make available a public summary of each 
project, including information related to workers rights, to 
be considered at the meeting. The Corporation shall not in-
clude any confidential business information in the sum-
mary made available under this subsection. Such views 
shall be made part of the record.’’. 
(b) ADDITIONAL TRANSPARENCY.—Section 237 of the 
Foreign Assistance Act of 1961 (22 U.S.C. 2197) is amend-
ed by adding at the end the following new subsections: 
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‘‘(p) REVIEW OF METHODOLOGY.—Not later than 180 
days after the date of the enactment of the Overseas Private 
Investment Corporation Reauthorization Act of 2008, the 
Corporation shall make available to the public the method-
ology, including relevant regulations, used to assess and 
monitor the impact of projects supported by the Corpora-
tion on employment in the United States and on the devel-
opment, the environment, and the protection of internation-
ally recognized worker rights, as well as the elimination of 
discrimination with respect to employment and occupation, 
in host countries. 
‘‘(q) PUBLIC
NOTICE
PRIOR
TO
PROJECT
AP-
PROVAL.— 
‘‘(1) PUBLIC NOTICE.— 
‘‘(A) IN GENERAL.—The Board of Directors 
of the Corporation may not vote in favor of any 
action proposed to be taken by the Corporation 
on a Category A project before the date that is 
60 days after the Corporation— 
‘‘(i) makes available for public com-
ment a summary of the project and relevant 
information about the project; and 
‘‘(ii) such summary and information 
described in clause (i) has been made avail-
able to groups in the area that may be im-
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