A bill to direct the President to establish an interagency mechanism to coordinate United States development programs and private sector investment activities, and for other purposes.
Economic Growth and Development Act
This bill requires the President to: (1) establish a primary, interagency mechanism to assist the private sector in coordinating U.S. development programs with private sector investment activities; and (2) submit, annually, a strategy for the facilitation and coordination of private sector investments and activities for the purposes of development.
Such mechanism shall: (1) streamline and integrate private sector liaison, coordination, and investment promotion functions of U.S. development agencies; (2) facilitate the use of development and finance tools across such agencies to attract greater private sector participation in development activities; and (3) establish a single point of contact for the private sector for partnership opportunities with such agencies.
The Department of State and the U.S. Agency for International Development (USAID) shall direct their policy teams to include private sector facilitation and coordination in all country, sector, and global development strategies.
The State Department, USAID, and other relevant federal agencies shall ensure that analyses of rigorous, current constraints on growth and investment guide all such strategies.
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations.
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