# § 9601. Definitions
In this chapter:
**(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).
**(2)** **Appropriate congressional committees** The term “appropriate congressional committees” means—
**(A)** the Committee on Foreign Relations and the Committee on Appropriations of the Senate; and
**(B)** the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives.
**(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 Republic of Korea.
**(D)** The Islamic Republic of Iran.
**(E)** The People’s Republic of China.
**(F)** The Russian Federation.
**(G)** The Republic of Belarus.
**(4)** **High-income country** section 9612(f) of this title
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 but does not include any wealthy country except to the extent investments in such wealthy country are permitted pursuant to .
**(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.
**(6)** **Predecessor authority** The term “predecessor authority” means authorities repealed by subchapter VI of this chapter.
**(7)** **Qualifying sovereign entity** The term “qualifying sovereign entity” means—
**(A)** any agency or instrumentality of a foreign state (as defined in section 1603 of title 28) that has a purpose that is similar to the purpose of the Corporation as described in section 9612(b) of this title; or
**(B)** any international financial institution (as defined in section 262r(c) of this title).
**(8)** **Wealthy country** The term “wealthy country”, with respect to a fiscal year for the Corporation—
**(A)** means a country that is among the top 20 countries with the highest gross domestic product per capita at purchasing power parity, as calculated by the World Bank; and
**(B)** does not include members of the ‘Five Eyes’ alliance or the overseas territories of the 20 countries referred to in subparagraph (A).
---
**Source Credit**: (Pub. L. 115–254, div. F, § 1402, Oct. 5, 2018, 132 Stat. 3485; Pub. L. 119–60, div. H, title LXXXVII, § 8711, Dec. 18, 2025, 139 Stat. 1946.)
## Editorial Notes
### References in Text
This chapter, referred to in text, was in the original “this division”, meaning division F of , , , which is classified principally to this chapter. For complete classification of division F to the Code, see Short Title note set out below and Tables.
Subchapter VI of this chapter, referred to in par. (3), was in the original “title VI”, meaning title VI (§§ 1461–1470) of div. F of , , , which is classified principally to subchapter VI of this chapter and which repealed title IV of chapter 2 of part I of the Foreign Assistance Act of 1961 ( et seq.), other than subsections (g), (), (m), and (n) of section 237 thereof (, (), (m), (n)), among other amendments. For complete classification of title VI to the Code, see Tables.
### Amendments
2025—Pars. (1), (2). , (2), added par. (1) and redesignated former par. (1) as par. (2). Former par. (2) redesignated (5).
Pars. (3), (4). , added pars. (3) and (4).
> “The term “less developed country” means a country with a low-income economy, lower-middle-income economy, or upper-middle-income economy, as defined by the International Bank for Reconstruction and Development and the International Development Association (collectively referred to as the “World Bank”).”
Par. (5). , added par. (5) and struck out former par. (5), as so redesignated. Prior to amendment, text of par. (5) read as follows:
, redesignated par. (2) as (5).
Pars. (6), (7). , redesignated pars. (3) and (4) as (6) and (7), respectively.
Par. (8). , added par. (8).
## Statutory Notes and Related Subsidiaries
### Short Title of 2025 Amendment
> “This title [amending sections 9601, 9612—9614, 9621, 9622, 9624, 9632, 9633, 9652—9654, 9656, and 9671 of this title] may be cited as the ‘DFC Modernization and Reauthorization Act of 2025’.”
, , , provided that:
### Short Title
> “This division [enacting this chapter, amending sections 2151n, 2197, 2291, 2296b, 5401, 5421, 6062, 6445, 7102, 7902, 8926, 9303, and 9546 of this title,
>
> , The Congress, sections 5313 to 5316 of Title 5, Government Organization and Employees,
>
> , set out in the Appendix to Title 5, sections 649, 4721, 4727, and 4902 of Title 15, Commerce and Trade,
>
> , Crimes and Criminal Procedure,
>
> , Customs Duties,
>
> , Education,
>
> , Money and Finance, and sections 17334 and 17336 of Title 42, The Public Health and Welfare, repealing subpart iv of part II of subchapter I of chapter 32 of this title, except for
>
> , enacting provisions set out as a note under
>
> , amending provisions set out as notes under sections 2293 and 2394c of this title] may be cited as the ‘Better Utilization of Investments Leading to Development Act of 2018’ or the ‘BUILD Act of 2018’.”
, , , provided that: