Page:United States Statutes at Large Volume 123.djvu/3419

 123STA T . 33 9 9 PUBLIC LA W 111 – 11 7—DE C.1 6, 2 0 09 ap p ro pr i a tedf ora Un ited S tate sc ontri bu tion to t h e Cl ean T echnolo gyF und ( the Fund ). ( 2 ) LIM I TSONC O U NT RYA CC E SS. — The Secretary of the Treasury shall use the v oice and vote of the United States to ensure that— ( A ) The Fund does not provide m ore than 15 percent of Fund resources to any one country ( B ) P rior to the obligation of funds , recipient countries submit to the governing body of the Fund, and the gov - erning body of the Fund appropriately revie w s and con- siders, an investment plan that will achieve significant net reductions in national-level greenhouse gas emissions; (C) The investment plan for a recipient country, whose borrowing status is classified by the W orld Ban k as ‘ ‘ I nter- national D evelopment Association (IDA) blend ’ ’, shall have at least 15 percent of its total cost for public sector activities contributed from the public funds of the recipient country, and any recipient country whose borrowing status is classi- fied by the World Bank as ‘‘International Bank for R econstruction and Development (IBRD) O nly’’ status, shall have at least 25 percent of its total cost for public sector activities contributed from public funds of the recipient country; and (D) Assistance made available by the Fund is used e x clusively to support the deployment of clean energy tech- nologies in developing countries (including, where appro- priate, through the provision of technical support or support for policy or institutional reforms) in a manner that achieves substantial net reductions in greenhouse gas emis- sions. ( 3 )RE P ORTIN G RE Q UIREMENT.— N ot later than 1 80 days after the date of enactment of this Act and annually thereafter, the Secretary of the Treasury shall submit to the Committees on Appropriations in the H ouse and Senate, the Senate Foreign Relations Committee and the House Financial Services Com- mittee, a report describing— (A) the operations and governance of the Fund, and the purpose and progress of each pro j ect supported by the Fund, including the extent to which assistance made available by the Fund has reduced or will reduce green- house gas emissions in recipient countries; and (B) how each project furthers the Fund’s investment plan of the country or countries in which the project is implemented. ( 4 )DE F INITIONS.—For purposes of this subsection— (A) NET RE D UCTIONS.—The term ‘‘net reductions’’ refers to the extent to which a project or program supported under this subsection results in lower greenhouse gas emis- sions than would be emitted by the same entity or sector in the same country in the absence of the Fund’s project, taking into account, unless impracticable, effects beyond the physical boundaries of the project or program that result from project or program activities. (B) PU BL IC SECTOR ACTI V ITIES.—The term ‘‘public sector activities’’ may include sovereign loans assumed by the recipient country to contribute to the financing of the investment plan.