Presidential Document2022-14198
Partnership for Global Infrastructure and Investment
Primary source
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Published
June 30, 2022
Signed
June 26, 2022
Issuing agencies
Executive Office of the President
Full Text
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<title>Federal Register, Volume 87 Issue 125 (Thursday, June 30, 2022)</title>
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[Federal Register Volume 87, Number 125 (Thursday, June 30, 2022)]
[Presidential Documents]
[Pages 39323-39328]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-14198]
Presidential Documents
Federal Register / Vol. 87, No. 125 / Thursday, June 30, 2022 /
Presidential Documents
[[Page 39323]]
Memorandum of June 26, 2022
Partnership for Global Infrastructure and
Investment
Memorandum for the Heads of Executive Departments and
Agencies
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, and to establish my Administration's policy
and approach to executing the Partnership for Global
Infrastructure and Investment (PGII), it is hereby
ordered as follows:
Section 1. Policy. Infrastructure is critical to
driving a society's productivity and prosperity. When
done well, infrastructure connects workers to good
jobs; allows businesses to grow and thrive; facilitates
the delivery of vital services; creates opportunities
for all segments of society, including underserved
communities; moves goods to markets; enables rapid
information-sharing and communication; protects
societies from the effects of climate change and public
health crises or other emergencies; and supports global
connection among nations. Infrastructure comes in many
forms and sizes, from the large-scale energy systems
that power inclusive economies, to the local healthcare
networks that contribute to global health security, to
the range of innovative infrastructure developed
through investments from financial institutions and
small- and medium-sized enterprises. My Administration
is making an urgent, once-in-a-generation investment in
domestic infrastructure that will create jobs, help
address the climate crisis, and help the Nation recover
from the coronavirus disease 2019 (COVID-19) pandemic--
and the same focus is needed around the globe.
Internationally, infrastructure has long been
underfunded, with over $40 trillion in estimated need
in the developing world--a need that will only increase
with the climate crisis and population growth. Many
low- and middle-income countries lack adequate access
to high-quality financing that meets their long-term
infrastructure investment needs. Too often, financing
options lack transparency, fuel corruption and poor
governance, and create unsustainable debt burdens,
often leading to projects that exploit, rather than
empower, workers; exacerbate challenges faced by
vulnerable populations, such as forced displacement;
degrade natural resources and the environment; threaten
economic stability; undermine gender equality and human
rights; and put insufficient focus on cybersecurity
best practices--a failure that can contribute to
vulnerable information and communications technology
networks.
The underinvestment in infrastructure is not just
financial, but also technical. Delivering high-quality
infrastructure in low- and middle-income countries must
include helping to establish and improve the necessary
institutional and policy frameworks, regulatory
environment, and human capacity to ensure the
sustainable delivery of services to communities;
defining strong engineering, environmental, social,
governance, and labor standards; and structuring
projects to attract private investment. Through the
PGII, the United States and like-minded partners will
emphasize high-standards and quality investments in
resilient infrastructure that will drive job creation,
safeguard against corruption, guarantee respect for
workers' organizations and collective bargaining as
allowed by national law or similar mechanisms, support
inclusive economic recovery, address risks of
environmental degradation, promote robust
cybersecurity, promote skills transfer, and protect
American economic prosperity and national security. The
PGII will also advance values-driven infrastructure
development that is carried out in a transparent
[[Page 39324]]
and sustainable manner--financially, environmentally,
and socially--to lead to better outcomes for recipient
countries and communities.
There is bipartisan support for international
infrastructure development. The Congress passed the
Better Utilization of Investments Leading to
Development Act of 2018 (BUILD Act) (Division F of
Public Law 115-254, 132 Stat. 3485) with bipartisan
support to mobilize private-sector dollars to support
economic development in low- and middle income
countries, which can include support for projects to
build infrastructure, creating first-time access to
electricity, starting businesses, and creating jobs.
The BUILD Act institutionalized the United States'
commitment to private sector-funded development by
establishing the United States International
Development Finance Corporation (DFC), authorized a
higher exposure cap for the DFC than the exposure cap
for the former Overseas Private Investment Corporation,
and provided new tools to engage entrepreneurs and
investors to help low- and middle-income countries
access private resources to generate economic growth.
These investments help ensure that our partners are
stronger, create opportunities for people around the
world, and reduce the need for future United States
foreign aid.
In a similar spirit, in 2018 the Congress passed the
AGOA and MCA Modernization Act (Public Law 115-167, 132
Stat. 1276), authorizing the Millennium Challenge
Corporation (MCC) to make concurrent regional compacts
under specified conditions, which can include
investments in regional infrastructure. This new
authority builds on the MCC's record of delivering
complex infrastructure projects that result in the
delivery of vital services for communities and
sustainable, inclusive economic growth. In addition,
recognizing the need for access to high-quality, fair,
and transparent financing for United States exporters
and foreign buyers, the Congress also reauthorized the
Export-Import Bank of the United States (EXIM) for 7
years in 2019. The EXIM's reauthorization legislation
also took steps to advance American leadership in
transformational exports, which can include support for
goods and services necessary for open, secure,
reliable, and interoperable information and
communications technology.
The United States and its partners have a long history
of providing high-quality financing and technical
support for infrastructure projects throughout the
world. However, the lack of a comprehensive approach
for coordinating infrastructure investments with like-
minded partners often leads to inefficiencies and
missed opportunities for coordinated investments to
deliver at scale. Greater flexibility, speed, and
resources, combined with expanded internal coordination
within the United States Government, will provide
opportunities for the United States Government and
United States companies to better meet the
infrastructure needs of low- and middle-income
countries around the world. At the same time, greater
coordination with G7 and other like-minded partners
will increase efficiency and catalyze new financing to
advance a shared vision of values driven, high-quality,
and sustainable infrastructure around the world.
Four key priorities relating to infrastructure will be
especially critical for robust development in the
coming decades: climate and energy security, digital
connectivity, health and health security, and gender
equality and equity. Economic prosperity and
competitiveness will largely be driven by how well
countries harness their digital and technology sectors
and transition to clean energy to provide
environmentally sustainable and broadly shared,
inclusive growth for their people. Countries not only
will need new and retrofitted infrastructure, secure
clean energy supply chains, and secure access to
critical minerals and metals to facilitate energy
access and transitions to clean energy, but also will
need significant investments in infrastructure to make
communities more resilient to diverse threats, from
pandemics to malicious cyber actors, to the increasing
effects of climate change. Further, the COVID-19
pandemic has highlighted the unequal infrastructure
needs in the developing world and has
disproportionately affected low- and middle-income
countries and regions, particularly with respect to the
health sector.
[[Page 39325]]
In the developing world, the pandemic has also set back
the economic participation of women and members of
underserved communities and has reversed decades of
progress toward ending poverty, with global extreme
poverty rising for the first time in more than 20 years
due to COVID-19. The pandemic has highlighted the need
for expanded investments in and high-quality financing
for strengthened health systems to both fight the
current pandemic and prepare for future health crises.
It is therefore the policy of the United States to
catalyze international infrastructure financing and
development through the PGII, which is designed to
offer low- and middle-income countries a comprehensive,
transparent, values-driven financing choice for
infrastructure development to advance climate and
energy security, digital connectivity, health and
health security, and gender equality and equity
priorities. The PGII will mobilize public and private
resources to meet key infrastructure needs, while
enhancing American competitiveness in international
infrastructure development and creating good jobs at
home and abroad. In this effort, the United States is
working in close partnership with G7 and other like-
minded partners toward infrastructure financing and
infrastructure development that are sustainable, clean,
resilient, inclusive, and transparent, and that adhere
to high standards.
Sec. 2. Approach. In order to meet the enormous
infrastructure needs in the developing world, a new
approach to international infrastructure development
that emphasizes high-standards investment is needed. To
meet this challenge and seize this opportunity, the
PGII should:
(a) partner with low- and middle-income countries
to finance infrastructure across key sectors that
advances the four key priorities critical to
sustainable, inclusive growth: climate and energy
security, digital connectivity, health and health
security, and gender equality and equity;
(b) promote the execution of projects in a timely
fashion in consultation and partnership with host
countries and local stakeholders to meet their priority
needs and opportunities, balancing both short- and
longer-term priorities;
(c) pursue the dual goals of advancing prosperity
and surmounting global challenges, including the
climate crisis, through the development of clean,
climate-resilient infrastructure that drives job
creation, accelerates clean energy innovation, and
supports inclusive economic recovery;
(d) support the policy and institutional reforms
that are key to creating the conditions and capacity
for sound projects and lasting results and to
attracting private financing;
(e) boost the competitiveness of the United States
by supporting businesses, including small- and medium-
sized enterprises in overseas infrastructure and
technology development, thereby creating jobs and
economic growth here at home;
(f) advance transparency, accountability, and
performance metrics to allow assessment of whether
investments and projects deliver results and are
responsive to country needs, are financially sound, and
meet a high standard;
(g) mobilize private capital from both the United
States private sector and the private sector in partner
countries;
(h) build upon relationships with international
financial institutions, including the multilateral
development banks (MDBs), to mobilize capital;
(i) focus on projects that can attract
complementary private-sector financing and catalyze
additional market activity to multiply the positive
impact on economies and communities;
(j) coordinate sources of bilateral and
multilateral development finance to maximize the
ability to meet infrastructure needs and facilitate the
implementation of high standards for infrastructure
investment;
[[Page 39326]]
(k) uphold high standards for infrastructure
investments and procurement, which safeguard against
bribery and other forms of corruption, better address
climate risks and risks of environmental degradation,
promote skills transfer, generate good jobs, mitigate
risks to vulnerable populations, and promote long-term
economic and social benefits for economies and
communities; and
(l) align G7 and other like-minded partners to
coordinate our respective approaches, investment
criteria, expertise, and resources on infrastructure to
advance a common vision and better meet the needs of
low- and middle-income countries and regions.
Sec. 3. Execution. (a) A whole-of-government approach
is necessary to meet the challenge of international
infrastructure development, with executive departments
and agencies (agencies) working together with like
minded partners. The Special Presidential Coordinator
for the Partnership for Global Infrastructure and
Investment shall be responsible for overseeing the
whole-of-government execution of these efforts and
serving as the central node for United States
coordination among the G7, as well as with other like-
minded partners, the private sector, and other external
actors. While specific lines of effort and initiatives
may each have agency leads, such as on sourcing
critical minerals or identifying trusted 5G and 6G
vendors, whole-of-government policies should be
addressed through the Coordinator.
(b) Agencies shall, consistent with applicable law
and available appropriations, prioritize support for
the PGII and make strategic investments across the
PGII's key priorities of climate and energy security,
digital connectivity, health and health security, and
gender equality and equity.
(c) The PGII shall be executed through the
following key implementation efforts:
(i) The Assistant to the President for National Security Affairs (APNSA),
through the interagency process identified in National Security Memorandum
2 of February 4, 2021 (Renewing the National Security Council System) (NSM-
2), shall submit a report to the President within 180 days of the date of
this memorandum. The report shall include recommendations on United States
Government actions to boost the competitiveness of the United States in
international infrastructure development, and to improve coordination on
international infrastructure development across relevant agencies.
(ii) The Secretary of State, the Secretary of the Treasury, the Secretary
of the Interior, the Secretary of Commerce, the Secretary of Labor, the
Secretary of Health and Human Services, the Secretary of Transportation,
the Secretary of Energy, the Administrator of the United States Agency for
International Development (USAID), and the heads of other relevant agencies
shall prioritize programming consistent with the policy and approach
described in sections 1 and 2 of this memorandum to support timely delivery
of international infrastructure development, particularly across the PGII's
four key priorities, as appropriate and consistent with their respective
authorities. The Chief Executive Officer (CEO) of MCC, the CEO of DFC, the
President of EXIM, the Director of the Trade and Development Agency (TDA),
and the heads of other relevant independent agencies are encouraged to
follow this same line of effort, as appropriate and consistent with their
respective authorities.
(iii) The Secretary of State shall direct Chiefs of Mission to use all
appropriate tools and to develop coordination mechanisms--including through
Embassy Deal Teams--to address host country strategic infrastructure needs
within the PGII's four key priority areas.
(iv) The Secretary of State and the Secretary of Commerce, in consultation
with the Secretary of Health and Human Services, the Secretary of Energy,
the Administrator of USAID, the CEO of MCC, the CEO of DFC, the President
of EXIM, and the Special Presidential Coordinator, shall develop a strategy
for using Embassy Deal Teams to identify potential priority infrastructure
projects for the PGII and refer promising opportunities to
[[Page 39327]]
relevant agencies for consideration, based on each agency's strengths and
authorities.
(v) The Secretary of State, through the Special Presidential Coordinator
and in consultation with the heads of other relevant agencies, shall
coordinate diplomatic engagements to expand the PGII beyond the G7 to bring
greater resources and opportunities for partnership.
(vi) The Secretary of State, through the Special Presidential Coordinator
and in consultation with the Secretary of the Treasury, the Secretary of
Commerce, the Secretary of Labor, the Secretary of Health and Human
Services, the Secretary of Transportation, the Administrator of the
Environmental Protection Agency, the Administrator of USAID, the CEO of
MCC, and the CEO of DFC, shall lead interagency efforts regarding
international coordination on infrastructure development standards and
metrics, including on labor and environment, and certification mechanisms,
including through the Blue Dot Network.
(vii) The Secretary of Commerce, in consultation with the Administrator of
the Small Business Administration, the President of EXIM, the Director of
TDA, and the Special Presidential Coordinator, shall develop and implement
a strategy to boost the competitiveness of the United States and promote
the use of United States equipment and services in international
infrastructure development.
(viii) The Secretary of the Treasury, in consultation with the Secretary of
State, the CEO of MCC, the CEO of DFC, and the Special Presidential
Coordinator, shall develop and implement a strategy to catalyze private-
sector investment and support low- and middle-income countries across the
PGII's four key priority areas.
(ix) The Secretary of the Treasury, in consultation with the Secretary of
State, the Secretary of Commerce, the Secretary of Health and Human
Services, the Administrator of USAID, and the Special Presidential
Coordinator shall develop a plan for engaging the MDBs to foster high-
quality infrastructure investment and increased private-capital
mobilization for low- and middle-income countries, and shall coordinate
with like-minded partners in the plan's execution. The CEO of DFC, in
consultation with the Secretary of State, the Secretary of the Treasury,
the Administrator of USAID, and the Special Presidential Coordinator, is
encouraged to develop a plan to enhance engagement with national and
international development finance institutions to increase private-capital
mobilization.
(x) The Secretary of Transportation, in consultation with the heads of
other relevant agencies, shall develop and implement a strategy to promote
high-quality, sustainable, and resilient transportation infrastructure in
low- and middle-income countries, including through the launch of a
comprehensive toolkit for national, subnational, and multilateral partners
that emphasizes best practices in planning, finance, project delivery,
safety, and maintenance.
(xi) The APNSA, through the interagency process identified in NSM-2 and in
coordination with the Director of the Office of Management and Budget,
shall identify potential legislative and administrative actions that could
improve the ability of United States economic development and assistance,
development finance, and export credit tools to meet international
infrastructure development needs.
(xii) The APNSA, through the interagency process identified in NSM-2, shall
lead biannual reviews to monitor the progress, metrics, and outcomes of the
PGII's investments and projects; identify strategic opportunities across
the PGII's four key priorities; and ensure that the execution of the PGII
aligns with, and supports, broader strategic United States national
security and economic objectives and values, including by supporting United
States companies in international infrastructure development.
[[Page 39328]]
Sec. 4. Definition. For purposes of this memorandum,
``agency'' means any authority of the United States
that is an ``agency'' under 44 U.S.C. 3502(1), other
than one considered to be an independent regulatory
agency, as defined in 44 U.S.C. 3502(5). ``Agency''
also means any component of the Executive Office of the
President.
Sec. 5. General Provisions. (a) Nothing in this
memorandum shall be construed to impair or otherwise
affect:
(i) the authority granted by law to an executive department or agency, or
the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.
(b) This memorandum shall be implemented consistent
with applicable law and subject to the availability of
appropriations.
(c) This memorandum is not intended to, and does
not, create any right or benefit, substantive or
procedural, enforceable at law or in equity by any
party against the United States, its departments,
agencies, or entities, its officers, employees, or
agents, or any other person.
(d) The Secretary of State is authorized and
directed to publish this memorandum in the Federal
Register.
<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>
(Presidential Sig.)
THE WHITE HOUSE,
Washington, June 26, 2022
[FR Doc. 2022-14198
Filed 6-29-22; 11:15 am]
Billing code 4710-10-P
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</html>Indexed from Federal Register on June 30, 2022.
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