Page:United States Statutes at Large Volume 123.djvu/1919

 123STA T . 1 89 9 PUBLIC LA W 111 – 32 —J U NE 2 4, 2 0 09 (3)demonstra te c ons i stent im p ro v ement on t h e democrac y and g overnance indicators as meas u red b y the M i l lennium C hallenge Corporation 20 0 9 Country S coreboo k. (b) TRANSFE R AUTHO R I TIES. —Of the funds appropriated in this title under the heading ‘ ‘ E conomic Support F und ’ ’ for developing countries impacted by the global financial crisis— ( 1 )upto $ 29, 000,000 may be transferred and merged w ith ‘‘ D evelopment Credit Authority’’, for the cost of direct loans and loan guarantees notwithstanding the dollar limitations in such account on transfers to the account and the principal amount of loans made or guaranteed with respect to any single country or borrower
 * Provide

d, That such transferred funds may be available to subsidi z e total loan principal, any portion of which is to be guaranteed, of up to $2,000,000,000: Provided fu r th er, That the authority provided by the previous proviso is in addition to authority provided under the heading ‘‘Develop - ment Credit Authority’’ in P ublic L aw 111 –8
 * Provided further,

That up to $1, 5 00,000 may be for administrative e x penses to carry out credit programs administered by the U nited States Agency for I nternational Development and (2) up to $20,000,000 may be transferred to, and merged with, ‘‘Overseas Private Investment Corporation Program Account’’: Provided, That the authority provided in this para- graph is in addition to authority provided in section 7 081 in Public Law 111–8. (c) R E P RO G RA M MING AUTHORIT Y .— N otwithstanding any other provision of law, funds appropriated under the heading ‘‘Millennium Challenge Corporation’’ (MCC) in prior Acts making appropriations for the Department of State, foreign operations, and related pro- grams may be made available for programs and activities to assist vulnerable populations severely affected by the global financial crisis in a country that has signed a compact with the MCC or has been designated by the MCC as a threshold country: Provided, That such a modification of a compact or threshold program by the MCC should be made, if practicable, prior to making available additional assistance for such purposes: Provided further, That the MCC shall consult with the Committees on Appropriations prior to exercising the authority of this subsection. (d) REPORT.—The Secretary of State, in consultation with the Administrator of the United States Agency for International Development (USAID), shall submit a spending plan not later than 4 5 days after the date of enactment of this Act to the Committees on Appropriations, and prior to the initial obligation of funds appro- priated for countries impacted by the global economic crisis, detailing the use of all funds on a country-by-country, and pro j ect- by-project basis: Provided , That for each project, the report shall include (1) the projected long-term economic impact of providing such funds; (2) the name of the entity or implementing organization to which funds are being provided; (3) whether funds will be pro- vided as a direct cash transfer to a local or national government entity; and (4) an assessment of whether USAID has reviewed its existing programs in such country to determine reprogramming opportunities to increase assistance for vulnerable populations: Pro - vided further, That funds transferred to the Development Credit Authority and the Overseas Private Investment Corporation are subject to the reporting re q uirements in section 1104. Consulta t i on .