22 U.S.C. § 9612 — United States International Development Finance Corporation

(a) Establishment. The executive branch has a United States International Development Finance Corporation, called the “Corporation” here. It is a wholly owned Government corporation under chapter 91 of title 31 and follows the Secretary of State's foreign-policy guidance.
(b) Purpose. The Corporation must mobilize and facilitate private capital and skills for economic development in less developed countries, countries moving from nonmarket to market economies, and other eligible foreign countries. It must complement United States development assistance and advance United States foreign-policy and national-security interests. In financing, it must broadly consider projects' economic and financial soundness and development goals.
(c) Eligible countries. (1) The Corporation must prioritize less developed countries. (2) It may support a project in an advancing-income country only after the Chief Executive Officer certifies in writing to the appropriate congressional committees^* that the support follows subsection (d)(2); the certification may be an appendix to the section 1446 report. (3)(A) It may support a project in a high-income country only after a written certification that the support follows subsection (d)(3); the certification may accompany the section 9656 report. (B) Within 120 days after December 18, 2025, and every year after that, the Corporation must report the high-income countries where it expects to provide support in the next fiscal year, and for the first report the current fiscal year, and, when practicable, the expected project types. The report may be classified or confidential. (C) It may not support a high-income-country project in a year when that country is not on that list unless, at least 15 days before commitment, it consults the committees and explains how the project advances United States foreign-policy interests. (4) A project already approved remains eligible even if the country's income classification changes.
(d) Strategic-investment policy. (1) The Board must establish project-by-project policies for deciding the strategic value of support in advancing-income and high-income countries. (2) For advancing-income countries, the policy must require that projects advance United States national security under the Secretary of State's foreign-policy determination or significant strategic economic competitiveness; produce significant development outcomes or impact the country's poorest people; and maximize private-capital mobilization. (3) For high-income countries, the policy must require all paragraph (2) requirements; give private entities a chance to support each project on viable terms instead of the Corporation; limit Corporation support for each project to 25 percent of total project cost; limit total support for all high-income-country projects to 10 percent of the contingent liability authorized by section 9633; and require a report certifying application of the policy and describing whether the support is a preferred alternative to a foreign country of concern's state-directed investment or otherwise counters or limits that country's influence.
(e) Ineligible countries. The Corporation may not support a project in a country of concern^* or a wealthy country, except as subsection (f) allows.
(f) Sector exceptions. Subject to subsection (d)(3), the wealthy-country restriction does not apply to energy; critical minerals and rare earths; or information and communications technology, including undersea cables.
(g) Sense of Congress. Congress states that the Corporation should continuously advance its core mission and purposes and that its resources should not be diverted to domestic or other activities outside that mission and purpose. Terms such as “advancing-income country,” “high-income country,” “country of concern,” and “wealthy country” are used here but this section does not define them.