any grants or aid shall, in setting the terms of each new award, seek to utilize or encourage the development of, to the maximum extent possible, insurance risk capacity in the private sector both in the United States and in any non-United States economy that is the recipient or host to such grant or aid, at market terms through a variety of financial instruments in a sustained and transparent manner. The strategy and implementation plans required in subsection (a) shall address the utilization and development of private risk capacity in program and award development and administration. 4. Reporting Each department and agency referred to in section 3 shall submit the strategy and implementation plan developed for each fiscal year pursuant to such section to the Director of the Office of Management and Budget. For each fiscal year, the Director shall compile a list of all credit, guarantee, and insurance risk transfer programs of departments and agencies of the Federal Government and submit such list to the President and the Congress together with a summary of the success to date of each such program, the current and aggregate totals of credit risk transferred since the date of the enactment of this Act, and any recommendations to enhance or expand such programs.