Definitions

Section 1402 of the Better Utilization of Investments Leading to Development Act of 2018 (22 U.S.C. 9601) is amended— (1) by redesignating paragraphs (1), (2), (3), and (4) as paragraphs (2), (5), (6), and (7), respectively; (2) by inserting before paragraph (2), as so redesignated, the following: (1) Advancing income country The term advancing income country, with respect to a fiscal year for the Corporation, means a country the gross national income per capita of which at the start of such fiscal year is— (A) greater than the World Bank threshold for initiating the International Bank for Reconstruction and Development graduation process; and (B) is equal to or less than the per capita income threshold for classification as a high-income economy (as defined by the World Bank).; (3) by inserting after paragraph (2), as so redesignated, the following: (3) Country of concern The term country of concern means any of the following countries: (A) The Bolivarian Republic of Venezuela. (B) The Republic of Cuba. (C) The Democratic People’s Republican of Korea. (D) The Islamic Republic of Iran. (E) The People’s Republic of China. (F) The Russian Federation. (G) Belarus. (4) High-income country The term high-income country, with respect to a fiscal year for the Corporation, means a country with a high-income economy (as defined by the World Bank) at the start of such fiscal year.; and (4) by striking paragraph (5), as so redesignated, and inserting the following: (5) Less developed country The term less developed country, with respect to a fiscal year for the Corporation, means a country the gross national income per capita of which at the start of such fiscal year is equal to or less than the World Bank threshold for initiating the International Bank for Reconstruction Development graduation process..