HR5320-119

What This Bill Does

The Transatlantic Growth Enterprise Act creates a State Department program, coordinated with the Development Finance Corporation and other agencies, for Central and Eastern Europe. The Enterprise focuses on the Czech Republic, Poland, Slovakia, Hungary, Romania, Moldova, Ukraine, Bulgaria, and any other Central or Eastern European country the Secretary determines appropriate. Its objectives are to strengthen U.S. relationships with like-minded countries, expand business-to-business ties with relevant chambers of commerce, deepen energy cooperation including nuclear energy, strengthen people-to-people ties, expand security cooperation, counter Russian malign influence and aggression, and counter the People's Republic of China's growing private-sector footprint. The Secretary must convene stakeholders from participating countries at least twice per calendar year, including government officials, business leaders, and civil society representatives where practicable. Supported projects may engage only with counterpart government officials the Secretary determines are not undermining U.S. interests through cooperation with Russia or China, democratic backsliding, or agreements allowing Chinese or Russian police or military forces to be stationed in their territory. State must report within 180 days and annually on Enterprise activities, diplomatic engagements, progress, and future initiatives, and within one year report on energy cooperation, dependence on Russian and Chinese energy sectors, energy opportunities, appropriations or authority needs, and private-sector actions.

Who Benefits and How

United States businesses benefit from a program designed to expand business-to-business ties and investment opportunities in Central and Eastern Europe. Central European energy companies benefit from cooperation on energy infrastructure, energy security, and nuclear energy opportunities. Development Finance Corporation staff benefit from a defined role in supporting transatlantic investment and energy-security projects. Civil society organizations in participating countries benefit from stakeholder convenings and people-to-people ties.

Who Bears the Burden and How

State Department regional program staff must carry out the Enterprise, convene stakeholders twice yearly, and submit recurring reports. Participating government officials cooperating with Russia or China may be excluded from Enterprise-supported projects. Russian state-linked businesses face U.S. efforts to reduce Central and Eastern European dependence on Russian energy and influence. Chinese state-linked businesses face U.S. efforts to counter the People's Republic of China's private-sector footprint in participating countries.

Key Provisions

• Establishes the Transatlantic Growth Enterprise at the State Department in coordination with the Development Finance Corporation.
• Expands business, energy, security, and people-to-people ties with Central and Eastern European Enterprise countries.
• Requires stakeholder convenings at least twice per calendar year.
• Restricts engagement with officials undermining U.S. interests through Russia, China, democratic backsliding, or foreign police or military basing agreements.
• Requires 180-day, annual, and one-year energy reports to congressional foreign-affairs committees.