capital project and cash payment assistance

capital project and cash payment assistance Sec. 595. (a) Allocation of Funds.—(1) Of the funds appropriated by this Act under the headings “Economic Support Fund” (excluding funds earmarked for Israel), “Philippines Assistance”, “Assistance for Eastern Europe and the Baltic States”, and “Assistance for the New Independent States of the Former Soviet Union”, an amount substantially equal to 10 percent of the aggregate amount appropriated under such headings shall be made available for developmentally-sound and sustainable capital projects and investment activities as defined in subsection (d). (2) Funds made available under subsection (a)(1) for capital projects in excess of $15,000,000 shall be subject to the regular notification procedures of the Committees on Appropriations. (b) Study of Cash Payment Assistance.— (1) Scope.—The Comptroller General of the United States shall conduct a study of cash payment assistance. Such study shall include the amounts of assistance provided under this Act as cash payment assistance, the purpose and recipients of cash payment assistance, the extent to which commodity or capital financing were explored in lieu of such cash assistance to achieve the purpose, an analysis of the purposes of cash payment assistance, accountability for and monitoring of how such assistance is used by recipients, the feasibility of separate accounting procedures for countries that use cash payments for the purchase of United States goods and services or the repayment of debt owed to the United States Government, 106 STAT. 1694and the degree to which recipients of cash payment assistance are required to and in fact use such assistance to purchase United States goods and services. (2) Report.—Not later than 6 months after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Congress a report setting forth the findings of the study conducted under paragraph (1). (c) Export-Import Bank “War Chest” Authority.—If the amounts appropriated or otherwise provided by this Act for purposes of section 15(e)(1) of the Export-Import Bank Act of 1945 are not totally used by the end of fiscal year 1993, then, at the close of such fiscal year the Chairman of the Export-Import Bank of the United States shall submit to the Congress a report stating— (1) the reasons for the Bank’s decision not to use these funds for those purposes; and (2) the amount of sales or bids lost because of the Bank’s decision not to use these funds. (d) Definitions.—For purposes of this section— (1) the term “capital projects and investment activities” may include projects and activities involving (1) the construction, expansion, operation, alteration of, or the acquisition of equipment for, a physical facility or physical infrastructure, including related technical assistance, training, engineering, and other services, (2) procurement of equipment, including related technical assistance, training, and other assistance to support sustained use of such equipment, (3) feasibility studies or similar engineering and economic services, and (4) facilitation of United States private investment in developmentally-sound and sustainable activities; (2) the term “cash payment assistance” means foreign assistance made through cash payments; (3) the term “developmentally-sound and sustainable” means a project or activity that is— (A) environmentally sustainable; (B) within the financial capacity of the government or recipient of the assistance to maintain from its own financial resources; and (C) responsive to a significant development priority initiated by the country to which assistance is being provided.