; and (v) should develop standard investment procedures that do not affect the flexibility and speed of the investment activities. (C) Partners The Fund shall partner with local entities, wholly-owned subsidiaries, and other instruments, as appropriate, to carry out investment activities in Americas partner countries, under the supervision of the central office. (3) Limitation on compensation None of the amounts managed by the Fund may be used to provide any benefit to any member of the Board of Directors or to any officer or employee of the Fund, other than a reasonable salary as compensation for services rendered. (d) Eligible programs and projects (1) Defined term In this subsection, the term qualified private sector entity means a business organization that is duly registered in the United States or in an Americas partner country. (2) In general The Fund may provide grants, loans, technical assistance, goods, and services to qualified private sector entities, in accordance with paragraphs (3) through (7), for programs and projects that are consistent with the purposes described in subsection (b). (3) Grants (A) In general The Fund shall establish a process for awarding grants to qualified private sector entities to carry out activities that are consistent with the purposes described in subsection (b). (B) Selection of grantees Not later than 20 working days after receiving an application for a grant under this paragraph, the Fund shall complete its review and evaluation of the application, using anticipated return on investment as the sole criterion for determining whether a grant will be awarded to the applicant. (4) Loans (A) In general The Fund shall establish a process for providing low-interest loans to qualified private sector entities to carry out activities that are consistent with the purposes described in subsection (b). Loans authorized under this paragraph may be offered in the form of equity if the Fund determines that such form is appropriate. (B) Selection of loan recipients Not later than 20