22 U.S.C. § 7709 — Congressional and public notification

(a) Congressional consultations and notifications — (1) In general: The Board, acting through the Chief Executive Officer, must consult with and notify the appropriate congressional committees at least 15 days before taking any of the actions listed in paragraph (2). (2) Actions described: (A) providing assistance to an eligible country under section 7708(g); (B) starting negotiations with an eligible country over assistance for a Compact under section 7704, or an agreement under section 7715; (C) signing such a Compact or agreement; and (D) ending assistance under such a Compact or agreement. (3) Economic justification: Any notice of intent to negotiate or sign a Compact must include a report describing the Compact's projected economic justification, covering, as applicable: (A) its expected economic rate of return; (B) a cost-benefit analysis; (C) a description of the impact on the people it is meant to benefit; (D) the likelihood that it will spur private-sector investment; and (E) any other applicable economic factors that justify each project to be funded under the Compact, to the extent practical and appropriate. (4) Risk management plan: At least 60 days before signing any concurrent Compact authorized under section 7708, the Board, acting through the Chief Executive Officer, must consult with and give the appropriate congressional committees: (A) an assessment — and, as appropriate, ways to reduce the risks — of the countries' commitment to regional integration and cross-border cooperation and their capacity to carry out commitments; political and policy risks, including risks that could affect eligibility; risks to realizing the expected economic return; time and completion risks; and cost and financial risks; and (B) an assessment of steps to be taken to reduce any identified risks, including securing other potential donors to help finance projects or parts of projects, and partnering with regional organizations to support and oversee cross-border cooperation. (b) Congressional and public notification after entering into a Compact — Within 10 days of signing a Compact with an eligible country, the Board, acting through the Chief Executive Officer, must: (1) publish the text of the Compact on the Corporation's website; (2) give the appropriate congressional committees a detailed summary of the Compact, and its full text upon request; and (3) publish a detailed summary of the Compact in the Federal Register, along with a notice that the full text is available on the Corporation's website.