§ 2431c. Eligibility for benefits
(a)
In general
To be eligible for benefits from the Facility under this subchapter, a country shall be a developing country with a tropical forest—
(1)
whose government meets the requirements applicable to Latin American or Caribbean countries under paragraphs (1) through (5) and (7) of section
2430b
(a) of this title; and
(2)
that has put in place investment reforms, as evidenced by the conclusion of a bilateral investment treaty with the United States, implementation of an investment sector loan with the Inter-American Development Bank, World Bank-supported investment reforms, or other measures, as appropriate.
(b)
Eligibility determinations
(1)
In general
Consistent with subsection (a) of this section, the President shall determine whether a country is eligible to receive benefits under this subchapter.
(2)
Congressional notification
The President shall notify the appropriate congressional committees of his intention to designate a country as an eligible country at least 15 days in advance of any formal determination.