118 STAT. 3925 PUBLIC LAW 108–484—DEC. 23, 2004 ‘‘(i) take into consideration the percentage of funds a provider of assistance intends to expend on adminis- trative costs; ‘‘(ii) take all appropriate steps to ensure that the provider of assistance keeps administrative costs as low as practicable to ensure the maximum amount of funds are used for directly assisting microfinance and microenterprise clients, for establishing sustain- able microfinance and microenterprise institutions, or for advancing the microenterprise development field; and ‘‘(iii) give preference to proposals from providers of assistance that are the most technically competitive and have a reasonable allocation to overhead and administrative costs. ‘‘(3) APPROVAL OF STRATEGIC PLANS.—With respect to assist- ance provided under this section, the office shall be responsible for concurring in the microenterprise development components of strategic plans of missions, bureaus, and other offices of the Agency and providing technical support to field missions to help the missions prepare such components. ‘‘(c) TARGETED ASSISTANCE.—In carrying out sustainable pov- erty-focused programs under subsection (a), 50 percent of all micro- enterprise resources shall be targeted to clients who are very poor. Specifically, until September 30, 2006, such resources shall be used for— ‘‘(1) support of programs under this section through practi- tioner institutions that— ‘‘(A) provide credit and other financial services to cli- ents who are very poor, with loans in 1995 United States dollars of— ‘‘(i) $1,000 or less in the Europe and Eurasia region; ‘‘(ii) $400 or less in the Latin America region; and ‘‘(iii) $300 or less in the rest of the world; and ‘‘(B) can cover their costs in a reasonable time period; or ‘‘(2) demand-driven business development programs that achieve reasonable cost recovery that are provided to clients holding poverty loans (as defined by the regional poverty loan limitations in paragraph (1)(A)), whether they are provided by microfinance institutions or by specialized business develop- ment services providers. ‘‘SEC. 253. MONITORING SYSTEM. ‘‘(a) IN GENERAL.—In order to maximize the sustainable development impact of assistance authorized under section 252(a), the Administrator of the Agency, acting through the Director of the office, shall strengthen its monitoring system to meet the requirements of subsection (b). ‘‘(b) REQUIREMENTS.—The requirements referred to in sub- section (a) are the following: ‘‘(1) The monitoring system shall include performance goals for the assistance and expresses such goals in an objective and quantifiable form, to the extent feasible. 22 USC 2211b. Termination date. VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00459 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4
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