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hort-term financial movements that threaten the long-term devel'pment of United States-supported microfinance institutions. (b) DISBURSEMENTS.—

(1) IN GENERAL.-The Administrator shall make disbursements from the Facility to United States-supported microfinance institutions to prevent the bankruptcy of such institutions caused by

(A) natural disasters;

(B) national wars or civil conflict; or

(C) national financial crisis or other short-term financial movements that threaten the long-term development of United States-supported microfinance institutions.

(2) FORM OF ASSISTANCE.-Assistance under this section shall be in the form of loans or loan guarantees for microfinance institutions that demonstrate the capacity to resume self-sustained operations within a reasonable time period. (3) CONGRESSIONAL NOTIFICATION PROCEDURES.-During each of the fiscal years 2005 through 2009,376 funds may not be made available from the Facility until 15 days after notification of the proposed availability of the funds has been provided to the congressional committees specified in section 634A in accordance with the procedures applicable to reprogramming notifications under that section.

(c) GENERAL PROVISIONS.

(1) POLICY PROVISIONS.-In providing the credit assistance authorized by this section, the Administrator should apply, as appropriate, the policy provisions in this part that are applicable to development assistance activities.

(2) DEFAULT AND PROCUREMENT PROVISIONS.—

(A) DEFAULT PROVISION.-The provisions of section 620(q), or any comparable provision of law, shall not be construed to prohibit assistance to a country in the event that a private sector recipient of assistance furnished under this section is in default in its payment to the United States for the period specified in such section.

(B) PROCUREMENT PROVISION.-Assistance may be provided under this section without regard to section 604(a). (3) TERMS AND CONDITIONS OF CREDIT ASSISTANCE.—

(A) IN GENERAL.-Credit assistance provided under this section shall be offered on such terms and conditions, including fees charged, as the Administrator may determine.

(B) LIMITATION ON PRINCIPAL AMOUNT OF FINANCING.— The principal amount of loans made or guaranteed under this section in any fiscal year, with respect to any single event, may not exceed $30,000,000.

(C) EXCEPTION.-No payment may be made under any guarantee issued under this section for any loss arising out of fraud or misrepresentation for which the party seeking payment is responsible.

(4) FULL FAITH AND CREDIT.-All guarantees issued under this section shall constitute obligations, in accordance with the

376 Sec. 5(c)(2)(A) of the Microenterprise Results and Accountability Act of 2004 (Public Law 108-484; 118 Stat. 3922) struck out "2001 and 2002" and inserted in lieu thereof "2005 through

terms of such guarantees, of the United States of America, and the full faith and credit of the United States of America is hereby pledged for the full payment and performance of such obligations to the extent of the guarantee.

(d) 377 FUNDING.

(1) ALLOCATION OF FUNDS.-Of the amounts made available to carry out this part for each of the fiscal years 2005 through 2009, such sums as may be necessary 378 may be made avail

able for

(A) the subsidy cost, as defined in section 502(5) of the Federal Credit Reform Act of 1990, to carry out this sec tion; and

(B) the administrative costs to carry out this section. (2) RELATION TO OTHER FUNDING.-Amounts made available under paragraph (1) are in addition to amounts available under any other provision of law to carry out this section.

SUBTITLE D-MISCELLANEOUS PROVISIONS 379

SEC. 258.380 REPORT.

(a) IN GENERAL.-Not later than June 30, 2006, and each June 30 thereafter, the Administrator of the Agency, acting through the Director of the office, shall submit to the appropriate congressional committees a report that contains a detailed description of the inplementation of this title for the previous fiscal year.

(b) CONTENTS.-The report shall contain the following:

(1) The number of grants, cooperative agreements, contracts contributions, or other form of assistance provided under sec tion 252, with a listing of

(A) the amount of each grant, cooperative agreement. contract, contribution, or other form of assistance;

(B) the name of each recipient and each developing coun try with respect to which projects or activities under the grant, cooperative agreement, contract, contribution, or other form of assistance were carried out; and

(C) a listing of the number of countries receiving assistance authorized by section 252.

(2) The results of the monitoring system required under section 253.

(3) The process of developing and applying poverty assessment procedures required under section 254.

(4) The percentage of assistance furnished under section 252 that was allocated to the very poor based on the data collected using the certified methods required by section 254.

(5) The estimated number of the very poor reached with assistance provided under section 252.

377 Sec. 5(c)2XC) of the Microenterprise Results and Accountability Act of 2004 (Public Law 108-484; 118 Stat. 3922) struck out subsec. (e), which had provided definitions applicable to the

section.

378 Sec. 5(c)2XB) of the Microenterprise Results and Accountability Act of 2004 (Public La 108-484; 118 Stat. 3922) struck out "this part for the fiscal year 2001, up to $5,000,000 and inserted in lieu thereof "this part for each of the fiscal years 2005 through 2009, such sums as may be necessary".

379 Sec. 6 of the Microenterprise Results and Accountability Act of 2004 (Public Law 108-484 118 Stat. 3922) added subtitle D, secs. 258 and 259.

380 22 U.S.C. 2214.

(6) The amount of assistance provided under section 252 through central mechanisms.

(7) The name of each country that receives assistance under section 256 and the amount of such assistance.

(8) Information on the efforts of the Agency to ensure that recipients of United States microenterprise and microfinance development assistance work closely with nongovernmental organizations and foreign governments to identify and assist victims or potential victims of severe forms of trafficking in persons and women who are victims of or susceptible to other forms of exploitation and violence.

(9) Any additional information relating to the provision of assistance authorized by this title, including the use of the poverty measurement tools required by section 254, or additional information on assistance provided by the United States to support microenterprise development under this title or any other provision of law.

(10) An estimate of the percentage of beneficiaries of assistance under this title in countries where a strong relationship between poverty and race or ethnicity has been demonstrated. (11) The level of funding provided through contracts, the level of funding provided through grants, contracts, and cooperative agreements that is estimated to be subgranted or subcontracted, as the case may be, to direct service providers, and an analysis of the comparative cost-effectiveness and sustainability of projects carried out under these mechanisms.

(c) AVAILABILITY TO PUBLIC.-The report required by this section shall be made available to the public on the Internet website of the Agency.

SEC. 259,381 DEFINITIONS.

In this title:

(1) ADMINISTRATOR.-The term "Administrator" means the Administrator of the Agency.

(2) AGENCY.-The term "Agency" means the United States Agency for International Development.

(3) APPROPRIATE CONGRESSIONAL COMMITTEES.-The term "appropriate congressional committees" means the Committee on International Relations of the House of Representatives and the Committee on Foreign Relations of the Senate.

(4) BUSINESS DEVELOPMENT SERVICES.-The term "business development services" means support for the growth of microenterprises through training, technical assistance, marketing assistance, improved production technologies, and other related services.

(5) DIRECTOR.-The term "Director" means the Director of the office.

(6) IMPLEMENTING PARTNER ORGANIZATION.-The term "implementing partner organization" means an entity eligible to receive assistance under this title which is

(A) a United States or an indigenous private voluntary organization;

(B) a United States or an indigenous credit union;

381 22 U.S.C. 2214a.

(C) a United States or an indigenous cooperative organızation;

(D) an indigenous governmental or nongovernmental or ganization;

(E) a microenterprise institution;

(F) a microfinance institution; or

(G) a practitioner institution.

(7) MICROENTERPRISE INSTITUTION.-The term "microenter prise institution" means a not-for-profit entity that provides services, including microfinance, training, or business development services, for microenterprise clients in foreign countries. (8) MICROFINANCE INSTITUTION.-The term "microfinance institution" means a not-for-profit entity or a regulated financial intermediary that directly provides, or works to expand, the availability of credit, savings, and other financial services to microfinance and microenterprise clients in foreign countries.

(9) MICROFINANCE NETWORK.-The term "microfinance network" means an affiliated group of practitioner institutions that provides services to its members, including financing. technical assistance, and accreditation, for the purpose of promoting the financial sustainability and societal impact of microenterprise assistance.

(10) OFFICE.-The term "office" means the office of microenterprise development established under section 252(b)(1).

(11) PRACTITIONER INSTITUTION.-The term "practitioner institution" means a not-for-profit entity or a regulated financial intermediary, including a microfinance network, that provides services, including microfinance, training, or business development services, for microfinance and microenterprise clients, or provides assistance to microenterprise institutions in foreign countries.

(12) PRIVATE VOLUNTARY ORGANIZATION.—The term "private voluntary organization" means a not-for-profit entity that

(A) engages in and supports activities of an economic or social development or humanitarian nature for citizens in foreign countries; and

(B) is incorporated as such under the laws of the United States, including any of its states, territories or the District of Columbia, or of a foreign country.

(13) UNITED STATES-SUPPORTED MICROFINANCE INSTITUTION.-The term "United States-supported microfinance institution" means a financial intermediary that has received funds made available under this part for fiscal year 1980 or any subsequent fiscal year.

(14) VERY POOR.-The term "very poor" means those individuals

(A) living in the bottom 50 percent below the poverty line established by the national government of the country in which those individuals live; or

(B) living on less than the equivalent of $1 per day (as calculated using the purchasing power parity (PPP) exchange rate method).

Title VII-Evaluation of Programs 382 * ** [Repealed-1978]

Title VIII-Southeast Asia Multilateral and Regional Programs 383 * * * [Repealed-1978]

Title IX-Utilization of Democratic Institutions in Development 384 Sec. 281.385 Utilization of Democratic Institutions in Devel>pment.—(a) 386 In carrying out programs authorized in this chapter and chapter 1,387 emphasis shall be placed on assuring maximum participation in the task of economic development on the part of the people of the developing countries, through the encouragement of democratic private and local governmental institutions. (b) 386 In order to carry out the purposes of this title, programs under this chapter and chapter 1387 shall

(1) recognize the differing needs, desires, and capacities of the people of the respective developing countries and areas;

(2) use the intellectual resources of such countries and areas in conjunction with assistance provided under this Act so as to encourage the development of indigenous institutions that meet their particular requirements for sustained economic and social progress; and

(3) support civic education and training in skills required for effective participation in governmental and political processes essential to self-government.

(c) 386 In the allocation of funds for research under this chapter and chapter 1,387 emphasis shall be given to research designed to examine the political, social, and related obstacles to development in countries receiving assistance under part I of this Act. In particular, emphasis should be given to research designed to increase understanding of the ways in which development assistance can support democratic, social and political trends in recipient countries. 388

(d) 386 Emphasis shall also be given to the evaluation of relevant past and current programs under part I of this Act and to applying this experience so as to strengthen their effectiveness in implementing the objectives of this title.

(e) 389 In order to carry out the purposes of this title, the agency primarily responsible for administering part I of this Act, shall develop systematic programs of inservice training to familiarize its personnel with the objectives of this title and to increase their knowledge of the political and social aspects of development. In addition to other funds available for such purposes, not to exceed 1 per centum of the funds authorized to be appropriated for grant as

382 Title VII, as added by the FA Act of 1963 (Public Law 88-205), was repealed by sec. 102(g)(1)(A) of the International Development and Food Assistance Act of 1978 (Public Law 95424; 92 Stat. 942).

383 Title VIII, as added by the FA Act of 1966 (Public Law 89-583), was repealed by sec. 102(g)(1)(A) of the International Development and Food Assistance Act of 1978 (92 Stat. 942). 384 Sec. 106 of the FA Act of 1966 (Public Law 89-583) added title IX.

385 22 U.S.C. 2218. Sec. 106 of the FA Act of 1966 (Public Law 89-583) added sec. 281.

386 Sec. 108 of the FA Act of 1967 (Public Law 90-137) inserted subsec. designation “(a)” and added subsecs. (b), (c) and (d).

387 Sec. 102(g)(2)(A) of the International Development and Food Assistance Act of 1978 (Public Law 95-424; 92 Stat. 942) inserted "and chapter 1".

388 Sec. 106(a) of the FA Act of 1968 (Public Law 90-554) added the last sentence.

389 Sec. 106(b) of the FA Act of 1968 (Public Law 90–554) added subsec. (e).

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