PUBLIC LAW 102-429—OCT. 21, 1992 106 STAT. 2191 approval in the report on competition in officially supported export credit required under subsection (b)(l)(A). "(5) DEFINITIONS.— For purposes of this section— "(A) the term 'United States insurance company*— "(i) includes an individual, partnership, corporation, holding company, or other legal entity which is authorized (or in the case of a holding company, subsidiaries of which are authorized) by a State to engage in the business of issuing insurance contracts or reinsuring the risk underwritten by insurance companies; and "(ii) includes foreign operations, branches, agencies, subsidiaries, affiliates, or joint ventures of any entity described in clause (i); and "(B) the term 'fair and open competitive opportunity* means, with respect to the provision of insurance by a United States insurance company, that the company— "(i) has received notice of the opportunity to provide such insurance; and "(ii) has been evaluated for such opportunity on a nondiscriminatory basis. ". SEC. 108. DEBT REDUCTION; ENTERPRISE FOR THE AMERICAS INITIA- TIVE. The Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) is amended by adding at the end the following new section: "SEC. 18. DEBT REDUCTION; ENTERPRISE FOR THE AMERICAS INTTIA- 12 USC 635i-6. TIVE. "(a) DEFINITIONS.— For purposes of this section— "(1) the term 'eligible country* means a country designated by the President in accordance with section (b); "(2) the term 'Facility' means the entity established in the Department of the Treasury by section 601 of the Agricultural Trade Development and Assistance Act of 1954; and "(3) the term 'IMF' means the International Monetary Fund. "(b) ELIGIBILITY FOR BENEFITS UNDER THE FACILITY.— "(1) REQUIREMENTS. —To be eligible for benefits from the Facility under this section, a country must— "(A) be a Latin American or Caribbean country; "(B) have in effect, have received approval for, or, as appropriate in exceptional circumstances, be making significant progress toward— "(i) an IMF standby arrangement, extended IMF arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility or, in exceptional circumstances, an IMF monitored program or its equivalent; and "(ii) as appropriate, structural or sectoral adjustment loans from the International Bank for Reconstruction and Development or the International Development Association; "(C) have put in place major investment reforms in conjunction with an Inter-American Development Bank loan or otherwise be implementing, or making significant progress toward, an open investment regime; and
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