In this chapter:
(1) **Advancing income country** — The term “advancing income country”, with respect to a fiscal year for the Corporation, means a country the gross national income per capita of which at the start of such fiscal year is—
(A) greater than the World Bank threshold for initiating the International Bank for Reconstruction and Development graduation process; and
(B) is equal to or less than the per capita income threshold for classification as a high-income economy (as defined by the World Bank).
(2) **Appropriate congressional committees** — The term “appropriate congressional committees” means—
(A) the Committee on Foreign Relations and the Committee on Appropriations of the Senate; and
(B) the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives.
(3) **Country of concern** — The term “country of concern” means any of the following countries:
(A) The Bolivarian Republic of Venezuela.
(B) The Republic of Cuba.
(C) The Democratic People’s Republic of Korea.
(D) The Islamic Republic of Iran.
(E) The People’s Republic of China.
(F) The Russian Federation.
(G) The Republic of Belarus.
(4) **High-income country** — The term “high-income country”, with respect to a fiscal year for the Corporation, means a country with a high-income economy (as defined by the World Bank) at the start of such fiscal year but does not include any wealthy country except to the extent investments in such wealthy country are permitted pursuant to [section 9612(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section9612/f&num=0&edition=prelim).
(5) **Less developed country** — The term “less developed country”, with respect to a fiscal year for the Corporation, means
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Stable record: federal_law:legal_authorities:record_usc_50633aa17e6a2a348a5003a3 Source file: Laws/federal/codes/united-states-code/title-22/section-9611-definitions--a47ade6aef.md Pages: Not recorded – Not recorded Passage SHA-256: 68e63be18e6090724448a1d1943ef24fa4538dc164ccac23fa21ca9ee34ae1cb Retained source evidence SHA-256: 2ef74b2e2e72ade5a32e81bc96726154e579c6465f0ffcbb93ad896797c4470f
Source location: Title 22, Chapter 103, § 9611; chapter-103-better-utilization-of-investments-leading-to-development.md
Stored source content
In this chapter:
(1) **Advancing income country** — The term “advancing income country”, with respect to a fiscal year for the Corporation, means a country the gross national income per capita of which at the start of such fiscal year is—
(A) greater than the World Bank threshold for initiating the International Bank for Reconstruction and Development graduation process; and
(B) is equal to or less than the per capita income threshold for classification as a high-income economy (as defined by the World Bank).
(2) **Appropriate congressional committees** — The term “appropriate congressional committees” means—
(A) the Committee on Foreign Relations and the Committee on Appropriations of the Senate; and
(B) the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives.
(3) **Country of concern** — The term “country of concern” means any of the following countries:
(A) The Bolivarian Republic of Venezuela.
(B) The Republic of Cuba.
(C) The Democratic People’s Republic of Korea.
(D) The Islamic Republic of Iran.
(E) The People’s Republic of China.
(F) The Russian Federation.
(G) The Republic of Belarus.
(4) **High-income country** — The term “high-income country”, with respect to a fiscal year for the Corporation, means a country with a high-income economy (as defined by the World Bank) at the start of such fiscal year but does not include any wealthy country except to the extent investments in such wealthy country are permitted pursuant to [section 9612(f) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section9612/f&num=0&edition=prelim).
(5) **Less developed country** — The term “less developed country”, with respect to a fiscal year for the Corporation, means a country the gross national income per capita of which at the start of such fiscal year is equal to or less than the World Bank threshold for initiating the International Bank for Reconstruction Development graduation process.
(6) **Predecessor authority** — The term “predecessor authority” means authorities repealed by subchapter VI of this chapter.
(7) **Qualifying sovereign entity** — The term “qualifying sovereign entity” means—
(A) any agency or instrumentality of a foreign state (as defined in [section 1603 of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section1603&num=0&edition=prelim)) that has a purpose that is similar to the purpose of the Corporation as described in [section 9612(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section9612/b&num=0&edition=prelim); or
(B) any international financial institution (as defined in [section 262r(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section262r/c&num=0&edition=prelim)).
(8) **Wealthy country** — The term “wealthy country”, with respect to a fiscal year for the Corporation—
(A) means a country that is among the top 20 countries with the highest gross domestic product per capita at purchasing power parity, as calculated by the World Bank; and
(B) does not include members of the ‘Five Eyes’ alliance or the overseas territories of the 20 countries referred to in subparagraph (A).
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Federal law — U.S. Code and appendices · legal_authorities
§ 9611. Statement of policy
It is the policy of the United States to facili-
tate market-based private sector development
and inclusive economic growth in less developed
countries through the provision of credit, cap-
ital, and other financial support—
(1) to mobilize private capital in support of
sustainable, broad-based economic growth,
poverty reduction, and development through
demand-driven partnerships with the private
sector that further the foreign policy interests
of the United States;
(2) to finance development that builds and
strengthens civic institutions, promotes com-
petition, and provides for public account-
ability and transparency;
(3) to help private sector actors overcome
identifiable market gaps and inefficiencies
without distorting markets;
(4) to achieve clearly defined economic and
social development outcomes;
(5) to coordinate with institutions with pur-
poses similar to the purposes of the Corpora-
tion to leverage resources of those institutions
to produce the greatest impact;
(6) to provide countries a robust alternative
to state-directed investments by authoritarian
governments and United States strategic com-
petitors using best practices with respect to
transparency and environmental and social
safeguards, and which take into account the
debt sustainability of partner countries;
(7) to leverage private sector capabilities
and innovative development tools to help
countries transition from recipients of bilat-
eral development assistance toward increased
self-reliance; and
(8) to complement and be guided by overall
United States foreign policy, development,
and national security objectives, taking into
account the priorities and needs of countries
receiving support.
(Pub. L. 115–254, div. F, title I, § 1411,