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22 U.S.C. § 2151F

Section 2151f · Transferred

Current version, with additions and removals from the October 17, 2000 version.

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Current — June 17, 2003
As of October 17, 2000
(a) Findings and policy
(a) Findings and policy

Congress finds and declares that—

Congress finds and declares that—

(1) the development of micro- and small enterprises is a vital factor in the stable growth of developing countries and in the development and stability of a free, open, and equitable international economic system; and

(1) the development of micro- and small enterprises is a vital factor in the stable growth of developing countries and in the development and stability of a free, open, and equitable international economic system; and

(2) it is, therefore, in the best interests of the United States to assist the development of the enterprises of the poor in developing countries and to engage the United States private sector in that process.
(2) it is, therefore, in the best interests of the United States to assist the access to financial services and the development of microenterprises in developing countries and to engage the United States private sector in that process.
(b) Program
(b) Program
To carry out the policy set forth in subsection (a) of this section, the President is authorized to provide assistance to increase the availability of credit to micro- and small enterprises lacking full access to credit, including through—
To carry out the policy set forth in subsection (a) of this section, the President is authorized to provide assistance to increase the availability of financial services to microenterprise households lacking full access to credit, including through—
(1) loans and guarantees to credit institutions for the purpose of expanding the availability of credit to micro- and small enterprises;
(1) loans and guarantees to microfinance institutions for the purpose of expanding the availability of savings and credit to poor and low-income households;
(2) training programs for lenders in order to enable them to better meet the credit needs of microentrepreneurs; and
(2) training programs for microfinance institutions in order to enable them to better meet the financial services needs of their clients; and
(3) training programs for microentrepreneurs in order to enable them to make better use of credit and to better manage their enterprises.
(3) training programs for clients in order to enable them to make better use of credit, increase their financial literacy, and to better manage their enterprises to improve their quality of life.
(c) Eligibility criteria
(c) Eligibility criteria
The Administrator of the agency primarily responsible for administering subchapter I of this chapter shall establish criteria for determining which credit institutions described in subsection (b)(1) of this section are eligible to carry out activities, with respect to micro- and small enterprises, assisted under this section. Such criteria may include the following:
The Administrator of the agency primarily responsible for administering subchapter I of this chapter shall establish criteria for determining which microfinance institutions described in subsection (b)(1) of this section are eligible to carry out activities, with respect to microenterprise households, assisted under this section. Such criteria may include the following:
(1) The extent to which the recipients of credit from the entity do not have access to the local formal financial sector.
(1) The extent to which the recipients of financial services from the entity do not have access to the local formal financial sector.
(2) The extent to which the recipients of credit from the entity are among the poorest people in the country.
(2) The extent to which the recipients of financial services from the entity are among the poorest people in the country.

(3) The extent to which the entity is oriented toward working directly with poor women.

(3) The extent to which the entity is oriented toward working directly with poor women.

(4) The extent to which the entity recovers its cost of lending.

(4) The extent to which the entity recovers its cost of lending.

(5) The extent to which the entity implements a plan to become financially sustainable.

(5) The extent to which the entity implements a plan to become financially sustainable.

(d) Additional requirement
(d) Additional requirement
Assistance provided under this section may only be used to support micro- and small enterprise programs and may not be used to support programs not directly related to the purposes described in subsection (b) of this section.
Assistance provided under this section may only be used to support programs for microenterprise households and may not be used to support programs not directly related to the purposes described in subsection (b) of this section.
(e) Procurement provision
(e) Procurement provision

Assistance may be provided under this section without regard to section 2354(a) of this title.

Assistance may be provided under this section without regard to section 2354(a) of this title.

(f) Availability of funds
(f) Availability of funds

(1) In general

(1) In general

Of the amounts authorized to be available to carry out section 2152a of this title, there are authorized to be available $1,500,000 for each of fiscal years 2001 and 2002 to carry out this section.
Of the amounts authorized to be available to carry out section 2152a of this title, there are authorized to be available $1,500,000 for each of fiscal years 2001 through 2004 to carry out this section.

(2) Coverage of subsidy costs

(2) Coverage of subsidy costs

Amounts authorized to be available under paragraph (1) shall be made available to cover the subsidy cost, as defined in section 661a(5) of title 2, for activities under this section.

Amounts authorized to be available under paragraph (1) shall be made available to cover the subsidy cost, as defined in section 661a(5) of title 2, for activities under this section.

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