I 
115TH CONGRESS 
1ST SESSION H. R. 2747 
To catalyze market-based economic growth in developing countries, create 
opportunities for the private sector of the United States to effectively 
engage in foreign assistance programs, improve planning and coordina-
tion among relevant United States departments and agencies, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 25, 2017 
Mr. YOHO (for himself, Mr. SMITH of Washington, Mr. KINZINGER, Mr. 
RUSH, Mr. THOMAS J. ROONEY of Florida, Mr. ELLISON, and Mr. 
POLIS) introduced the following bill; which was referred to the Committee 
on Foreign Affairs 
A BILL 
To catalyze market-based economic growth in developing 
countries, create opportunities for the private sector of 
the United States to effectively engage in foreign assist-
ance programs, improve planning and coordination 
among relevant United States departments and agencies, 
and for other purposes. 
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 ‘‘Economic Growth and 
Development Act’’. 
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SEC. 2. SENSE OF CONGRESS ON UNITED STATES DEVELOP-
MENT ASSISTANCE. 
It is the sense of Congress that— 
(1) United States development assistance— 
(A) is most effective in countries with gov-
ernments that demonstrate a commitment to 
the rule of law, human rights, investing in their 
own people, combating corruption, and creating 
a policy environment and legal framework that 
enables trade, investment, and enduring eco-
nomic growth; 
(B) is most likely to produce sustainable 
results when it aligns with the development pri-
orities of the recipient country, creates opportu-
nities for growth lead by the private sector, and 
complements rather than replacing government 
investments in priority sectors through a trans-
parent and accountable system of domestic re-
source mobilization; 
(C) should be guided by a unified strategy, 
ambitious targets, and robust monitoring and 
evaluation to ensure that it is efficient, effec-
tive, and results-oriented; 
(D) should be targeted in recipient coun-
tries in a manner that— 
(i) advances the rule of law; 
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(ii) builds and strengthens civic insti-
tutions and trade capacity; 
(iii) addresses binding constraints to 
market-based economic growth; 
(iv) catalyzes private sector invest-
ment in key development areas, such as 
utilities, infrastructure, agriculture, health, 
and education; 
(v) promotes transparency and ac-
countability among donors, governments, 
and citizens; and 
(vi) places recipient countries on a 
trajectory toward graduation from foreign 
assistance; and 
(E) should prioritize and better coordinate 
resources that support enhanced trade capacity 
and facilitate fairer and more sustainable trade 
with partner countries; and 
(2) United States development finance pro-
grams, which mobilize private capital to achieve de-
velopment objectives and may soon outpace tradi-
tional grant-based assistance programs in terms of 
total capital investments, should— 
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(A) be appropriately leveraged to com-
plement, rather than replace, other forms of 
private capital; 
(B) drive inclusive, enduring economic 
growth; and 
(C) have stability and predictability by 
being provided a multi-year authorization. 
SEC. 
3. 
INTERAGENCY 
MECHANISM 
TO 
COORDINATE 
UNITED STATES DEVELOPMENT PROGRAMS 
AND PRIVATE SECTOR INVESTMENT. 
(a) IN GENERAL.—The President shall establish a 
primary interagency mechanism to coordinate United 
States development assistance programs carried out by 
Federal departments and agencies engaged in planning or 
providing such assistance overseas with the investment ac-
tivities of the private sector. 
(b) DUTIES.—The interagency mechanism estab-
lished under subsection (a) shall— 
(1) streamline the private-sector liaison, coordi-
nation, and investment promotion functions of such 
Federal departments and agencies; 
(2) facilitate the use of development and fi-
nance tools across such Federal departments and 
agencies to attract greater participation in develop-
ment activities by the private sector; and 
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