Summary: H.R.2747 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.2747. Bill summaries are authored by CRS.

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Introduced in House (05/25/2017)

Economic Growth and Development Act

This bill requires the President to establish a primary interagency mechanism to coordinate U.S. development assistance programs carried out by federal agencies overseas with private sector investment activities.

The mechanism shall:

  • streamline the private-sector liaison, coordination, and investment promotion functions of such agencies;
  • facilitate the use of development and finance tools across such agencies to attract greater participation in development activities by the private sector; and
  • establish a single point of contact for U.S. private sector entities pursuing partnership opportunities with such agencies.

Federal agencies planning or providing U.S. development assistance overseas shall ensure that: (1) a rigorous analysis of the constraints to economic growth and investment within a recipient country guides any U.S. development strategy, and (2) U.S. development strategies are coordinated with private sector activities in such countries.

Each analysis shall identify and analyze: (1) the constraints posed by inadequacies in critical infrastructure, the education system, the rule of law, the tax and investment codes, or the customs or regulatory regimes in the recipient country; and (2) the particular economic sectors that are central to achieving economic growth in the recipient country.

The results of each analysis shall be: (1) incorporated into any relevant development strategy, and (2) used to guide the allocation of resources by federal agencies planning or providing U.S. development assistance overseas.