§ 2200. Small business development in less developed friendly countries or areas; encouragement by other Federal departments, etc., of broadened participation by United States small business cooperatives and investors; project funding

(a) In general

The Corporation shall undertake, in cooperation with appropriate departments, agencies, and instrumentalities of the United States as well as private entities and others, to broaden the participation of United States small business, cooperatives, and other small United States investors in the development of small private enterprise in less developed friendly countries or areas. The Corporation shall allocate up to 50 per cent of its annual net income, after making suitable provision for transfers and additions to reserves, to assist and facilitate the development of projects consistent with the provisions of this section. Such funds may be expended, notwithstanding the requirements of section 2191(a) of this title, on such terms and conditions as the Corporation may determine, through loans, grants, or other programs authorized by section 2194 of this title and section 2194b of this title.

(b) Outreach to minority-owned and women-owned businesses The Corporation shall collect data on the involvement of minority- and women-owned businesses in projects supported by the Corporation, including—

(1) the amount of insurance and financing provided by the Corporation to such businesses in connection with projects supported by the Corporation; and

(2) to the extent such information is available, the involvement of such businesses in procurement activities conducted or supported by the Corporation.

The Corporation shall include, in its annual report submitted to the Congress under section 2200a of this title, the aggregate data collected under this paragraph, in such form as to quantify the effectiveness of the Corporation’s outreach activities to minority- and women-owned businesses.

(Pub. L. 87–195, pt. I, § 240, as added Pub. L. 95–268, § 9, Apr. 24, 1978, 92 Stat. 216; amended Pub. L. 99–204, § 9(b)(3), Dec. 23, 1985, 99 Stat. 1673; Pub. L. 108–158, § 6(a), Dec. 3, 2003, 117 Stat. 1950.)

Prior Provisions

Prior Provisions

A prior section 2200, Pub. L. 87–195, pt. I, § 240, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 817; amended Pub. L. 92–226, pt. I, § 104(c), Feb. 7, 1972, 86 Stat. 22; Pub. L. 93–189, § 6(2), Dec. 17, 1973, 87 Stat. 717; Pub. L. 93–390, § 2(6), Aug. 27, 1974, 88 Stat. 768, provided for agricultural credit and self-help community development projects in Latin America, prior to repeal by Pub. L. 93–559, § 8(b), Dec. 30, 1974, 88 Stat. 1797. See section 2182a of this title.

Amendments

Amendments

2003—Pub. L. 108–158 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).

1985—Pub. L. 99–204 inserted reference to section 2194b of this title.