What I think it's trying to say (and I can be wrong) is that they will create a smaller group within the US agency for international development devoted to supporting financial things that have to do with businesses (such as loans), and the person in charge of the department will be chosen by the president, and should be good at their job and know what they're doing. The report to congress would be an update on what's going on in the department and how much assistance they're giving to the citizens