Part II - Other Programs

subpart i - multilateral and regional development programs

2161, 2162. Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section 2161, Pub. L. 87–195, pt. I, 201, Sept. 4, 1961, 75 Stat. 426; Pub. L. 87–565, pt. I, 102, Aug. 1, 1962, 76 Stat. 256; Pub. L. 88–205, pt. I, 102(a), Dec. 16, 1963, 77 Stat. 380; Pub. L. 88–633, pt. I, 101, Oct. 7, 1964, 78 Stat. 1009; Pub. L. 89–583, pt. I, 102(a), Sept. 19, 1966, 80 Stat. 796; Pub. L. 90–137, pt. I, 102(a), (b), Nov. 14, 1967, 81 Stat. 447; Pub. L. 90–554, pt. I, 101(a), Oct. 8, 1968, 82 Stat. 960, related to the establishment by the President of the Development Loan Fund. See section 2151 (b) of this title. Section 2162, Pub. L. 87–195, pt. I, 202, Sept. 4, 1961, 75 Stat. 426; Pub. L. 88–205, pt. I, 102(b), Dec. 16, 1963, 77 Stat. 380; Pub. L. 89–583, pt. I, 102(b), Sept. 19, 1966, 80 Stat. 796; Pub. L. 90–137, pt. I, 102(c), Nov. 14, 1967, 81 Stat. 447; Pub. L. 90–554, pt. I, 101(b), Oct. 8, 1968, 82 Stat. 960; Pub. L. 91–175, pt. I, 101(a), Dec. 30, 1969, 83 Stat. 805; Pub. L. 92–226, pt. I, 101(a), Feb. 7, 1972, 86 Stat. 21, related to authorization of appropriations, availability of funds, and encouragement of development through private enterprise.

22 USC 2163 - Repealed. Pub. L. 93189, 3(b), Dec. 17, 1973, 87 Stat. 717

Section, Pub. L. 87–195, pt. I, 203, Sept. 4, 1961, 75 Stat. 427; Pub. L. 91–175, pt. I, 101(b), Dec. 30, 1969, 83 Stat. 805; Pub. L. 92–226, pt. I, 101(b), Feb. 7, 1972, 86 Stat. 21; Pub. L. 93–189, § 3(a), Dec. 17, 1973, 87 Stat. 717; Pub. L. 93–559, § 6, Dec. 30, 1974, 88 Stat. 1796, authorized use of not more than 50 per centum of dollar receipts scheduled to be paid during each of the fiscal years 1974 and 1975 from loans made under this subchapter and predecessor foreign assistance legislation for making loans under part I of this subchapter for each such fiscal year, and disposition of dollar receipts paid on and after July 1, 1975.

22 USC 2164 - Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section, Pub. L. 87–195, pt. I, 204, Sept. 4, 1961, 75 Stat. 427, related to the establishment, duties and appointment of officers of the Development Loan Committee. The provisions of this section were redesignated as subsec. (e) of section 2151t of this title by section 102(d)(1), (2) of Pub. L. 95–424.

22 USC 2165 - Repealed. Pub. L. 92226, pt. I, 101(d), Feb. 7, 1972, 86 Stat. 21

Section, Pub. L. 87–195, pt. I, 205, Sept. 4, 1961, 75 Stat. 427; Pub. L. 89–171, pt. I, 102(a), Sept. 6, 1965, 79 Stat. 653; Pub. L. 89–583, pt. I, 102(c), Sept. 19, 1966, 80 Stat. 797; Pub. L. 90–137, pt. I, 102(d), Nov. 14, 1967, 81 Stat. 447, provided for use of international lending organizations.

22 USC 2166 - Regional development in Africa

The President is requested to seek and to take appropriate action, in cooperation and consultation with African and other interested nations and with international development organizations, to further and assist in the advancement of African regional development institutions, including the African Development Bank, with the view toward promoting African economic development.

2167, 2168. Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section 2167, Pub. L. 87–195, pt. I, 207, as added Pub. L. 90–137, pt. I, 102(e), Nov. 14, 1967, 81 Stat. 448, related to placement of emphasis on democratic institutions, agriculture, education, public health and other needs, in the furnishing of development assistance. Section 2168, Pub. L. 87–195, pt. I, 208, as added Pub. L. 90–137, pt. I, 102(e), Nov. 14, 1967, 81 Stat. 448, related to the taking into account, in determining to what extent United States should furnish assistance, of countrys own efforts to aid itself.

22 USC 2169 - Multilateral, regional, and bilateral programs

(a) Multilateral programs 
The Congress recognizes that the planning and administration of development assistance by, or under the sponsorship of the United Nations, multilateral lending institutions, and other multilateral organizations may contribute to the efficiency and effectiveness of that assistance through participation of other donors in the development effort, improved coordination of policies and programs, pooling of knowledge, avoidance of duplication of facilities and manpower, and greater encouragement of self-help performance.
(b) Regional programs 
It is further the sense of the Congress
(1)  that where problems or opportunities are common to two or more countries in a region, in such fields as agriculture, education, transportation, communications, power, watershed development, disease control, and establishment of development banks, these countries often can more effectively resolve such problems and exploit such opportunities by joining together in regional organizations or working together on regional programs,
(2)  that assistance often can be utilized more efficiently in regional programs than in separate country programs, and
(3)  that to the maximum extent practicable consistent with the purposes of this chapter assistance under this chapter should be furnished so as to encourage less developed countries to cooperate with each other in regional development programs.
(c) Federal funds to multilateral lending institutions and multilateral organizations for loans to foreign countries; increase 
It is the sense of the Congress that the President should increase, to the extent practicable, the funds provided by the United States to multilateral lending institutions and multilateral organizations in which the United States participates for use by such institutions and organizations in making loans to foreign countries.

subpart ii - american schools and hospitals abroad; prototype desalting plants

2171, 2172. Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section 2171, Pub. L. 87–195, pt. I, 211, Sept. 4, 1961, 75 Stat. 427; Pub. L. 87–565, pt. I, 103(a), Aug. 1, 1962, 76 Stat. 256; Pub. L. 89–583, pt. I, 103(a), Sept. 19, 1966, 80 Stat. 797; Pub. L. 90–554, pt. I, 102(a), Oct. 8, 1968, 82 Stat. 960; Pub. L. 93–189, § 4(1), Dec. 17, 1973, 87 Stat. 717, related to general authority of President to furnish assistance and considerations to be taken into account. Section 2172, Pub. L. 87–195, pt. I, 212, Sept. 4, 1961, 75 Stat. 428; Pub. L. 87–565, pt. I, 103(b), Aug. 1, 1962, 76 Stat. 256; Pub. L. 88–205, pt. I, 103(a), Dec. 16, 1963, 77 Stat. 381; Pub. L. 88–633, pt. I, 102(b), Oct. 7, 1964, 78 Stat. 1009; Pub. L. 89–171, pt. I, 103(a), Sept. 6, 1965, 79 Stat. 654; Pub. L. 89–583, pt. I, 103(b), Sept. 19, 1966, 80 Stat. 797; Pub. L. 90–137, pt. I, 103(b), Nov. 14, 1967, 81 Stat. 449; Pub. L. 90–554, pt. I, 102(b), Oct. 8, 1968, 82 Stat. 960; Pub. L. 91–175, pt. I, 102, Dec. 30, 1969, 83 Stat. 805; Pub. L. 92–226, pt. I, 102(a), Feb. 7, 1972, 86 Stat. 22, related to authorization of appropriations.

22 USC 2173 - Repealed. Pub. L. 87565, pt. I, 103(c), Aug. 1, 1962, 76 Stat. 256

Section, Pub. L. 87–195, pt. I, 213, Sept. 4, 1961, 75 Stat. 428, related to peaceful use of atomic energy outside United States. See section 2171 of this title.

22 USC 2174 - American schools, libraries, and hospital centers abroad

(a) Assistance for schools and libraries 
The President is authorized to furnish assistance, on such terms and conditions as he may specify, to schools and libraries outside the United States founded or sponsored by United States citizens and serving as study and demonstration centers for ideas and practices of the United States.
(b) Assistance for hospital centers 
The President is authorized, notwithstanding the provisions of the Mutual Defense Assistance Control Act of 1951 [22 U.S.C. 1611 et seq.], to furnish assistance, on such terms and conditions as he may specify, to institutions referred to in subsection (a) of this section, and to hospital centers for medical education and research outside the United States, founded or sponsored by United States citizens.
(c) Authorization of appropriations 

(1) To carry out the purposes of this section, there are authorized to be appropriated to the President $35,000,000 for fiscal year 1986 and $35,000,000 for fiscal year 1987.
(2) Amounts appropriated under paragraph (1) are authorized to remain available until expended.
(d) Pediatric plastic and reconstructive surgery centers 
Notwithstanding the provisions of subsection (b) of this section, funds appropriated under this section may be used for assistance to centers for pediatric plastic and reconstructive surgery established by Childrens Medical Relief International, except that assistance may not be furnished for the domestic operations of any such center located in the United States, its territories or possessions.

22 USC 2175 - Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section, Pub. L. 87–195, pt. I, 215, Sept. 4, 1961, 75 Stat. 428, related to loans to small farmers.

22 USC 2175a - Repealed. Pub. L. 97113, title VII, 734(a)(8), Dec. 29, 1981, 95 Stat. 1560

Section, Pub. L. 93–559, § 3, Dec. 30, 1974, 88 Stat. 1795, imposed a ceiling on aid to South Vietnam for procurement of fertilizers. See section 2370 (f) of this title.

2176 to 2178. Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section 2176, Pub. L. 87–195, pt. I, 216, Sept. 4, 1961, 75 Stat. 429; Pub. L. 88–633, pt. I, 102(d), Oct. 7, 1964, 78 Stat. 1009, related to payment by the United States of transportation charges of the American Red Cross and United States voluntary nonprofit">nonprofit relief agencies. Section 2177, Pub. L. 87–195, pt. I, 217, as added Pub. L. 88–633, pt. I, 102(e), Oct. 7, 1964, 78 Stat. 1009, related to a determination of the feasibility of establishing programs for the furnishing to less developed countries of used tools, machinery, etc., to be donated by private enterprise. Section 2178, Pub. L. 87–195, pt. I, 218, as added Pub. L. 90–137, pt. I, 103(a), Nov. 14, 1967, 81 Stat. 450, related to the demonstration of the use of fish and other protein concentrates as a means of reducing nutritional deficiencies in less developed countries.

22 USC 2179 - Prototype desalting plant

(a) Assistance in development 
In furtherance of the purposes of subchapter I of this chapter and for the purpose of improving existing, and developing and advancing new, technology and experience in the design, construction, and operation of large-scale desalting plants of advanced concepts which will contribute materially to low-cost desalination in all countries, including the United States, the President, if he determines it to be feasible, is authorized to participate in the development of a large-scale water treatment and desalting prototype plant and necessary appurtenances to be constructed in Israel as an integral part of a dual-purpose power generating and desalting project. Such participation shall include financial, technical, and such other assistance as the President deems appropriate to provide for the study, design, construction, and, for a limited demonstration period of not to exceed five years, operation and maintenance of the water treatment and desalting facilities of the dual-purpose project.
(b) Terms and conditions 
Any agreement entered into under subsection (a) of this section shall include such terms and conditions as the President deems appropriate to insure, among other things, that all information, products, uses, processes, patents, and other developments obtained or utilized in the development of this prototype plant will be available without further cost to the United States for the use and benefit of the United States throughout the world, and to insure that the United States, its officers, and employees have a permanent right to review data and have access to such plant for the purpose of observing its operations and improving science and technology in the field of desalination.
(c) Contracts 
In carrying out the provisions of this section, the President may enter into contracts with public or private agencies and with any person without regard to section 3324 (a) and (b) of title 31 and section 5 of title 41.
(d) Patents 
Nothing in this section shall be construed as intending to deprive the owner of any background patent or any right which such owner may have under that patent.
(e) Federal agencies 
In carrying out the provisions of this section, the President may utilize the personnel, services, and facilities of any Federal agency.
(f) Authorization of appropriations 
The United States costs, other than its administrative costs, for the study, design, construction, and operation of a prototype plant under this section shall not exceed either 50 per centum of the total capital costs of the facilities associated with the production of water, and 50 per centum of the operation and maintenance costs for the demonstration period, or $20,000,000, whichever is less. There are authorized to be appropriated, subject to the limitations of this subsection, such sums as may be necessary to carry out the provisions of this section, including administrative costs thereof. Such sums are authorized to remain available until expended.
(g) Restrictions on appropriations 
No funds appropriated for the Office of Water Research and Technology pursuant to the appropriation authorized by the Act of July 11, 1969 (83 Stat. 45, Public Law 9143), or prior authorization Acts, shall be used to carry out the purposes of this section.

2180, 2180a. Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section 2180, Pub. L. 87–195, pt. I, 220, as added Pub. L. 91–175, pt. I, 104, Dec. 30, 1969, 83 Stat. 807, related to programs for peaceful communications using television, etc., for educational, health, etc., purposes. Section 2180a, Pub. L. 87–195, pt. I, 220A, as added Pub. L. 92–226, pt. I, 102(c), Feb. 7, 1972, 86 Stat. 22, related to assistance in the reopening of the Suez Canal.

subpart iii - shelter and other credit guaranty programs

22 USC 2181 - Policy

The Congress recognizes that shelter, including essential urban development services, is among the most fundamental of human needs. Shelter for most people in the developing countries consists largely of domestic materials assembled by local labor. While recognizing that most financing for such shelter must come from domestic resources, the Congress finds that carefully designed programs involving United States capital and expertise can increase the availability of domestic financing for improved shelter and related services for low-income people by demonstrating to local entrepreneurs and institutions that providing low-cost shelter can be financially viable. The Congress reaffirms, therefore, that the United States should continue to assist developing countries in marshalling resources for low-cost shelter. Particular attention should be given to programs which will support pilot projects for low-cost shelter or which will have a maximum demonstration impact on local institutions and national policy. The Congress declares that the long run goal of all such programs should be to develop domestic construction capabilities and to stimulate local credit institutions to make available domestic capital and other management and technological resources required for effective low-cost shelter programs and policies.

22 USC 2182 - Authorization for worldwide shelter guarantees

(a) Authorization to issue guarantees to eligible investors 
To carry out the policy of section 2181 of this title, the President is authorized to issue guaranties to eligible investors (as defined in section 2198 (c) of this title) assuring against losses incurred in connection with loans made for projects meeting the criteria set forth in section 2181 of this title. The total principal amount of guaranties issued under this subpart or heretofore issued under prior housing guaranty authorities, which are outstanding at any one time, shall not exceed $2,558,000,000. The authority of this section shall continue through September 30, 1992. The President may issue regulations from time to time with regard to the terms and conditions upon which such guaranties shall be issued and the eligibility of lenders.
(b) Emphasis on certain activities 
Activities carried out under this section shall emphasize
(1) projects which provide improved home sites to poor families on which to build shelter, and related services;
(2) projects comprised of expandable core shelter units on serviced sites;
(3) slum upgrading projects designed to conserve and improve existing shelter;
(4) shelter projects for low-income people designed for demonstration or institution building purposes; and
(5) community facilities and services in support of projects authorized under this section to improve the shelter occupied by the poor.
(c) Use of solar energy technology 
In issuing guaranties under this section with respect to projects in a country which require the use or conservation of energy, the President shall give consideration to the use of solar energy technologies, where such technologies are economically and technically feasible. Technologies which may be used include solar hot water systems, solar heating and cooling, passive solar heating, biomass conversion, photovoltaic and wind applications, and community-scale solar thermal applications.
(k)  1 Minimum annual program levels 
The total principal amount of guaranties issued under this section for each of the fiscal years 1986 and 1987 shall be comparable to the total principal amount of such guaranties issued for fiscal year 1984, subject to the dollar limitations on the issuance of guaranties under this section which are contained in subsection (a) of this section and in appropriation Acts.
[1] So in original. No subsecs. (d) to (j) have been enacted.

22 USC 2182a - Agricultural and productive credit and self-help community development programs

(a) Financing pilot programs; scope 
It is the sense of the Congress that in order to stimulate the participation of the private sector in the economic development of less-developed countries, the authority conferred by this section should be used to establish pilot programs to encourage private banks, credit institutions, similar private lending organizations, cooperatives, and private nonprofit">nonprofit development organizations to make loans on reasonable terms to organized groups and individuals residing in a community for the purpose of enabling such groups and individuals to carry out agricultural credit and self-help community development projects for which they are unable to obtain financial assistance on reasonable terms. Agricultural credit and assistance for self-help community development projects should include, but not be limited to, material and such projects as wells, pumps, farm machinery, improved seed, fertilizer, pesticides, vocational training, food industry development, nutrition projects, improved breeding stock for farm animals, sanitation facilities, and looms and other handicraft aids.
(b) Guaranties; percentage limitation 
To carry out the purposes of subsection (a) of this section, the agency primarily responsible for administering subchapter I of this chapter is authorized to issue guaranties, on such terms and conditions as it shall determine, to private lending institutions, cooperatives, and private nonprofit">nonprofit development organizations assuring against loss of not to exceed 50 per centum of the portfolio of such loans made by any lender to organized groups or individuals residing in a community to enable such groups or individuals to carry out agricultural credit and self-help community development projects for which they are unable to obtain financial assistance on reasonable terms. In no event shall the liability of the United States exceed 75 per centum of any one loan.
(c) Total and individual amount of guaranties 
The total face amount of guaranties issued under this section outstanding at any one time shall not exceed $20,000,000. Not more than 10 per centum of such sum shall be provided for any one institution, cooperative, or organization.
(d) Inter-American Foundation consultations 
The Inter-American Foundation shall be consulted in developing criteria for making loans eligible for guaranty coverage in Latin America under this section.
(e) Guaranty reserve 
Not to exceed $3,000,000 of the guaranty reserve established under section 2183 (b) of this title shall be available to make such payments as may be necessary to discharge liabilities under guaranties issued under this section or any guaranties previously issued under section 2200 of this title.
(f) Administrative and operating expenses; funds 
Funds held by the Overseas Private Investment Corporation pursuant to section 2196 of this title may be available for meeting necessary administrative and operating expenses for carrying out the provisions of this section through June 30, 1976.
(g) Transfer of Overseas Private Investment Corporation’s obligations and assets 
The Overseas Private Investment Corporation shall, upon enactment of this subsection, transfer to the agency primarily responsible for administering subchapter I of this chapter all obligations, assets, and related rights and responsibilities arising out of, or related to the predecessor program provided for in section 2200 of this title.
(h) Termination of authority 
The authority of this section shall continue through September 30, 1988.
(i) Excess foreign currencies; use 
Notwithstanding the limitation in subsection (c) of this section, foreign currencies owned by the United States and determined by the Secretary of the Treasury to be excess to the needs of the United States may be utilized to carry out the purposes of this section, including the discharge of liabilities under this subsection. The authority conferred by this subsection shall be in addition to authority conferred by any other provision of law to implement guaranty programs utilizing excess local currency.

22 USC 2183 - General provisions

(a) Fees; determination by President; reduction 
A fee shall be charged for each guaranty issued under section 2182 or 2182a of this title in an amount to be determined by the President. In the event the fee to be charged for such type of guaranty is reduced, fees to be paid under existing contracts for the same type of guaranty may be similarly reduced.
(b) Accumulated and existing fees; expenditure of fees; revolving fund account; investments; use of investment income 
The amount of $50,000,000 of fees accumulated under prior investment guaranty provisions repealed by the Foreign Assistance Act of 1969, together with all fees collected in connection with guaranties issued under section 2182 of this title or under prior housing guaranty authorities, shall be available for meeting necessary administrative and operating expenses of carrying out the provisions of section 2182 of this title and administering housing guaranties heretofore authorized under this subpart and under prior housing guaranty provisions repealed by the Foreign Assistance Act of 1969 (including, but not limited to expenses pertaining to personnel, supplies, and printing), subject to such limitations as may be imposed in annual appropriation Acts; for meeting management and custodial costs incurred with respect to currencies or other assets acquired under guaranties made pursuant to section 2182 of this title or heretofore pursuant to this subpart or prior Latin American and other housing guaranty authorities repealed by the Foreign Assistance Act of 1969; and to pay the cost of investigating and adjusting (including costs of arbitration) claims under such guaranties; and shall be available for expenditure in discharge of liabilities under such guaranties until such time as all such property has been disposed of and all such liabilities have been discharged or have expired, or until all such fees have been expended in accordance with the provisions of this subsection. Fees collected in connection with guaranties issued under section 2182a of this title shall likewise be available to meet similar expenses, costs, or liabilities incurred in connection with the programs authorized by that section. All of the foregoing fees referred to in this section together with earnings thereon and other income arising from guaranty operations under this subpart shall be held in a revolving fund account maintained in the Treasury of the United States. All funds in such account may be invested in obligations of the United States. Any interest or other receipts derived from such investments shall be credited to such account and may be used for the purposes cited in this section.
(c) Priorities of funds for guaranty payments 
Any payments made to discharge liabilities under guaranties issued under section 2182 of this title or heretofore under this subpart or under prior Latin American or other housing guaranty authorities repealed by the Foreign Assistance Act of 1969, shall be paid first out of fees referred to in subsection (b) of this section (excluding amounts required for purposes other than the discharge of liabilities under guaranties) as long as such fees are available, and thereafter shall be paid out of funds, if any, realized from the sale of currencies or other assets acquired in connection with any payment made to discharge liabilities under such guaranties as long as funds are available, and finally out of funds hereafter made available pursuant to subsection (e) of this section.
(d) Guaranties as obligations backed by full faith and credit of United States 
All guaranties issued under section 2182 or 2182a, or previously under section 2200 of this title or heretofore under this subpart or under prior Latin American or other housing guaranty authority repealed by the Foreign Assistance Act of 1969 shall constitute obligations, in accordance with the terms of such guaranties, of the United States of America and the full faith and credit of the United States of America is hereby pledged for the full payment and performance of such obligations.
(e) Authorization of appropriations; borrowing authority 

(1) There is hereby authorized to be appropriated to the President such amounts, to remain available until expended, as may be necessary from time to time to carry out the purposes of this subpart.
(2) 
(A) In order to meet obligations incurred for the payment of claims pursuant to loan guaranties described in subsection (d) of this section, the Administrator of the agency primarily responsible for administering subchapter I of this chapter may, to the extent that reserves are not sufficient, borrow from time to time from the Treasury, except that
(i) the Administrator may exercise the authority to borrow under this paragraph only to such extent or in such amounts as are provided in advance in appropriation Acts; and
(ii) the amount borrowed under this paragraph which is outstanding at any one time may not exceed $100,000,000.
(B) Any such borrowing shall bear interest at a rate determined by the Secretary of the Treasury, taking into account the current average market yield on outstanding marketable obligations of the United States of comparable maturities. The Secretary of the Treasury shall make loans under this paragraph and for such purpose may borrow on the credit of the United States in accordance with subchapter I of chapter 31 of title 31.
(f) Agency determination of maximum rate of interest 
In the case of any loan investment guaranteed under section 2182 of this title, the agency primarily responsible for administering subchapter I of this chapter shall prescribe the maximum rate of interest allowable to the eligible investor, which maximum rate shall not exceed by more than 1 per centum the then current rate of interest applicable to housing mortgages insured by the Department of Housing and Urban Development. The maximum allowable rate of interest under this subsection shall be prescribed by the agency as of the date the project covered by the investment is officially authorized and, prior to the execution of the contract, the agency may amend such rate at its discretion, consistent with the provisions of this subsection.
(g) Guaranties under prior acts 
Housing guaranties committed, authorized, or outstanding heretofore under this subpart or under prior housing guaranty authorities repealed by the Foreign Assistance Act of 1969 shall continue subject to provisions of law originally applicable thereto and fees collected hereafter with respect to such guaranties shall be available for the purposes specified in subsection (b) of this section.
(h) Fraud or misrepresentation 
No payment may be made under any guaranty issued pursuant to this subpart for any loss arising out of fraud or misrepresentation for which the party seeking payment is responsible.
(i) Repealed. Pub. L. 95–424, title I, § 115(i), Oct. 6, 1978, 92 Stat. 952 
(j) Guaranties for housing projects; percentage requirement for families with income below median income 
Guaranties shall be issued under section 2182 of this title only for housing projects which are coordinated with and complementary to any development assistance being furnished under part I of this subchapter and which are specifically designed to demonstrate the feasibility and suitability of particular kinds of housing or of financial or other institutional arrangements. Of the aggregate face value of housing guaranties hereafter issued under this subpart, not less than 90 per centum shall be issued for housing suitable for families with income below the median income (below the median urban income for housing in urban areas) in the country in which the housing is located.

22 USC 2184 - Trade credit insurance program for Central America

(a) Guarantees to Export-Import Bank; financial transactions with private sector in Central American countries 
In order to enable the Export-Import Bank of the United States (hereafter in this section referred to as the Bank) to determine that there exists reasonable assurance of repayment as required under section 2(b)(1)(B) of the Export-Import Bank Act of 1945 [12 U.S.C. 635 (b)(1)(B)], the agency primarily responsible for administering subchapter I of this chapter (hereafter in this section referred to as the Agency) is authorized to provide guarantees to the Bank for liabilities to be incurred by the Bank in connection with guarantees or insurance provided under the Export-Import Bank Act of 1945 [12 U.S.C. 635 et seq.] for financing for transactions involving the export of goods and services for the use of the private sector in Central American countries.
(b) Extent of guarantees; agreements; reserve fund 

(1) Guarantees provided by the Agency pursuant to the authority of subsection (a) of this section shall be for short-term guarantees and insurance extended by the Bank which shall be repayable within a period not to exceed one year from the date of arrival at the port of importation of the goods and services covered by such guarantees or insurance. Guarantees or insurance extended by the Bank and guaranteed by the Agency pursuant to subsection (a) of this section shall be provided by the Bank in accordance with criteria and procedures agreed to by the Agency and the Bank. Such agreement shall also provide for the establishment of a reserve fund by the Agency, with such funds made available to the reserve as the Agency deems necessary to discharge liabilities under guarantees provided by the Agency pursuant to subsection (a) of this section.
(2) The Administrator of such agency shall transmit a copy of such agreement to the Speaker of the House of Representatives and to the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate.
(c) Deadline for guarantee commitments 
The Agency shall not enter into any commitments to guarantee under subsection (a) of this section after September 30, 1991.
(d) Availability of appropriated funds 
Of the funds authorized to be appropriated for part IV of subchapter II of this chapter, there are authorized to be made available such sums as may be deemed necessary by the Agency to discharge liabilities under guarantees entered into under subsection (a) of this section.
(e) Guarantee commitments limit 
Commitments to guarantee under subsection (a) of this section are authorized only to the extent and in the amounts provided in appropriations Acts, except that the aggregate amount of outstanding commitments under subsection (a) of this section may not exceed $300,000,000 of contingent liability for loan principal during fiscal year 1986 and may not exceed $400,000,000 of contingent liability for loan principal during fiscal year 1987.
(f) Credits to reserve fund 
To the extent that any of the funds made available pursuant to subsection (d) of this section are paid out for a claim arising out of liabilities guaranteed under subsection (a) of this section, amounts received after the date of such payment, with respect to such claim, shall be credited to the reserve fund referred to in subsection (b) of this section, shall be merged with the funds in such reserve, and shall be available for the purpose of payments by the Agency to the Bank for guarantees under subsection (a) of this section.
(g) Omitted 
(h) Administrative and technical assistance 
The Export-Import Bank shall provide without reimbursement such administrative and technical assistance to the Agency as the Bank and the Agency deem appropriate to assist the Agency in carrying out this section.

22 USC 2185 - Trade credit insurance program for Poland

(a) General authority 

(1) Assurance to Export-Import Bank of repayment 
The President is authorized to provide guarantees to the Bank for liabilities described in paragraph (2) in order to satisfy the requirement of section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 635 (b)(1)(B)) that the Bank have[1] reasonable assurance of repayment.
(2) Liabilities which may be guaranteed 
The liabilities that may be guaranteed under paragraph (1) are liabilities incurred by the Bank in connection with guarantees or insurance provided under the Export-Import Bank Act of 1945 [12 U.S.C. 635 et seq.] for financing for transactions involving the export of goods and services for the use of the private sector in Poland.
(b) Guarantees available only for short-term guarantees and insurance 
Guarantees provided under subsection (a) of this section shall be for short-term guarantees and insurance extended by the Bank which shall be repayable within a period not to exceed one year from the date of arrival at the port of importation of the goods and services covered by such guarantees or insurance.
(c) Agreement on criteria and procedures 
Guarantees or insurance extended by the Bank and guaranteed pursuant to subsection (a) of this section shall be provided by the Bank in accordance with criteria and procedures agreed to by the Administrator and the Bank.
(d) Reserve fund 
The agreement referred to in subsection (c) of this section shall also provide for the establishment of a reserve fund by the administering agency, with such funds made available to the reserve as the Administrator deems necessary to discharge liabilities under guarantees provided under subsection (a) of this section.
(e) Discharge of liabilities 

(1) Funds which may be used 
Such amounts of the funds made available to carry out part IV of subchapter II of this chapter (relating to the economic support fund) as the President determines are necessary may be made available to discharge liabilities under guarantees entered into under subsection (a) of this section.
(2) Crediting of subsequent payments 
To the extent that any of the funds made available pursuant to paragraph (1) are paid out for a claim arising out of liabilities guaranteed under subsection (a) of this section, amounts received after the date of such payment, with respect to such claim, shall be credited to the reserve fund established pursuant to subsection (d) of this section, shall be merged with the funds in such reserve, and shall be available for the purpose of payments by the Administrator to the Bank for guarantees under subsection (a) of this section.
(f) Appropriations action required 
Commitments to guarantee under subsection (a) of this section are authorized only to the extent and in the amounts provided in advance in appropriations Acts.
(g) Limitation on outstanding commitments 
The aggregate amount of outstanding commitments under subsection (a) of this section may not exceed $200,000,000 of contingent liability for loan principal during any fiscal year.
(h) Omitted 
(i) Administrative and technical assistance 
The Bank shall provide, without reimbursement, such administrative and technical assistance to the administering agency as the Bank and the Administrator determine appropriate to assist the administering agency in carrying out this section.
(j) Fees and premiums 
The Bank is authorized to charge fees and premiums, in connection with guarantees or insurance guaranteed by the administering agency under subsection (a) of this section, that are commensurate (in the judgment of the Bank) with the Banks administrative costs and the risks covered by the agencys guarantees. Any amounts received by the Bank in excess of the estimated costs incurred by the Bank in administering such guarantees or insurance
(1) shall be credited to the reserve fund established pursuant to subsection (d) of this section,
(2) shall be merged with the funds in such reserve, and
(3) shall be available for the purpose of payments by the administering agency to the Bank for guarantees under subsection (a) of this section.
(k) Restrictions not applicable 
Prohibitions on the use of foreign assistance funds for assistance for Poland shall not apply with respect to the funds made available to carry out this section.
(l) Expiration of authority 
The President may not enter into any commitments to guarantee under subsection (a) of this section after September 30, 1992.
(m) Definitions 
For purposes of this section
(1) the term administering agency means the Agency for International Development;
(2) the term Administrator means the Administrator of the Agency for International Development; and
(3) the term Bank means the Export-Import Bank of the United States.
[1] So in original. Probably should be “has”.

22 USC 2186 - Loan guarantees to Israel program

(a) In general 
Subject to the terms and conditions of this section, during the period beginning October 1, 1992, and ending September 30, 1997, the President is authorized to issue guarantees against losses incurred in connection with loans to Israel made as a result of Israels extraordinary humanitarian effort to resettle and absorb immigrants into Israel from the republics of the former Soviet Union, Ethiopia and other countries. In the event that less than the full amount authorized to be issued under subsection (b) of this section is issued in such period, the authority to issue the balance of such guarantees shall be available in the fiscal year ending on September 30, 1998.
(b) Fiscal year levels 
The President is authorized to issue guarantees in furtherance of the purposes of this section. Subject to subsection (d) of this section, the total principal amount of guarantees which may be issued by the President under this section shall be up to $10,000,000,000 which may be issued as follows:
(1) in fiscal year 1993, up to $2,000,000,000 may be issued on October 1, 1992 or thereafter;
(2) subject to subsection (d) of this section, in fiscal years 1994 through 1997, up to $2,000,000,000 in each fiscal year may be issued on October 1 or thereafter.
(3) If less than the full amount of guarantees authorized to be made available in a fiscal year pursuant to paragraphs (1) and (2) of this subsection is issued to Israel during that fiscal year, the authority to issue the balance of such guarantees shall extend to any subsequent fiscal year ending on or before September 30, 1998.
(4) 
(A) Not later than September 1 of each year during the period in which the President is authorized to issue loan guarantees under subsection (a) of this section, beginning in fiscal year 1993, the President shall notify the appropriate congressional committees in writing of his intentions regarding the exercise of that authority for the fiscal year beginning on October 1 of that year, including a statement of the total principal amount of guarantees, if any, that the President proposes to issue for that fiscal year.
(B) For purposes of this paragraph, the term appropriate congressional committees means the Committee on Appropriations and the Committee on Foreign Relations of the Senate and the Committee on Appropriations and the Committee on Foreign Affairs of the House of Representatives.
(c) Use of guarantees 
Guarantees may be issued under this section only to support activities in the geographic areas which were subject to the administration of the Government of Israel before June 5, 1967.
(d) Limitation on guarantee amount 
The amount of authorized but unissued guarantees that the President is authorized to issue as specified in subsection (b) of this section shall be reduced by an amount equal to the amount extended or estimated to have been extended by the Government of Israel during the previous year for activities which the President determines are inconsistent with the objectives of this section or understandings reached between the United States Government and the Government of Israel regarding the implementation of the loan program. The President shall submit a report to Congress no later than September 30 of each fiscal year during the pendency of the program specifying the amount calculated under this subsection and that will be deducted from the amount of guarantees authorized to be issued in the next fiscal year.
(e) Fees 

(1) Fees charged for the loan guarantee program under this section each year shall be an aggregate annual origination fee equal to the estimated subsidy cost of the guarantees issued under this section for that year, calculated by the Office of Management and Budget for the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.]. This shall also include an amount for the administrative expenses of the Agency for International Development in administering the program under this section. All such fees shall be paid by the Government of Israel to the Government of the United States. Funds made available for Israel under part 4 of subchapter II of this chapter, may be utilized by the Government of Israel to pay such fees to the United States Government. No further appropriations of subsidy cost are needed for the loan guarantee authorized hereunder for fiscal year 1993 and the four succeeding fiscal years.
(2) The origination fee shall be payable to the United States Government on a pro rata basis as each guarantee for each loan or increment is issued.
(f) Authority to suspend 
Except as provided in subsections (l) and (m) of this section, the President shall determine the terms and conditions for issuing guarantees. If the President determines that these terms and conditions have been breached, the President may suspend or terminate the provision of all or part of the additional loan guarantees not yet issued under this section. Upon making such a determination to suspend or terminate the provision of loan guarantees, the President shall submit to the Speaker of the House of Representatives and the President Pro Tempore of the Senate his determination to do so, including the basis for such suspension or termination.
(g) Procedures for suspension or termination 
Any suspension or termination pursuant to subsection (f) of this section shall be in accordance with the following procedures:
(1) Upon making a determination to suspend or terminate the provision of loan guarantees, the President shall submit to the Speaker of the House of Representatives and the President Pro Tempore of the Senate his determination to do so, including the basis for such suspension or termination.
(2) Such a suspension or termination shall cease to be effective if Congress enacts, within 30 days of submission, a joint resolution authorizing the assistance notwithstanding the suspension.
(3) Any such joint resolution shall be considered in the Senate in accordance with the provisions of section 601(b) of the International Security Assistance and Arms Export Control Act of 1976.
(4) For the purpose of expediting the consideration and enactment of joint resolutions under this subsection, a motion to proceed to the consideration of any such joint resolution after it has been reported by the appropriate committee shall be treated as highly privileged in the House of Representatives.
(5) In the event that the President suspends the provision of additional loan guarantees under subsection (f) of this section and Congress does not enact a joint resolution pursuant to this subsection, the provision of additional loan guarantees under the program established by this section may be resumed only if the President determines and so reports to Congress that the reasons for the suspension have been resolved or that the resumption is otherwise in the national interest.
(h) Economic context 
The effective absorption of immigrants into Israel from the republics of the former Soviet Union and Ethiopia within the private sector requires large investment and economic restructuring to promote market efficiency and thereby contribute to productive employment and sustainable growth. Congress recognizes that the Government of Israel is developing an economic strategy designed to achieve these goals, and that the Government of Israel intends to adopt a comprehensive, multi-year economic strategy based on prudent macroeconomic policies and structural reforms. Congress also recognizes that these policies are being designed to reduce direct involvement of the government in the economic system and to promote private enterprise, important prerequisites for economic stability and sustainable growth.
(i) Consultations 
It is the sense of the Congress that, as agreed between the two Governments and in order to further the policies specified in subsection (h) of this section, Israel and the United States should continue to engage in consultations concerning economic and financial measures, including structural and other reforms, that Israel should undertake during the pendency of this program to enable its economy to absorb and resettle immigrants and to accommodate the increased debt burden that will result from loans guaranteed pursuant to this section. It is the sense of the Congress that these consultations on economic measures should address progress and plans in the areas of budget policies, privatization, trade liberalization, financial and capital markets, labor markets, competition policy, and deregulation.
(j) Goods and services 
During the pendency of the loan program authorized under this section, it is anticipated that, in the context of the economic reforms undertaken pursuant to subsections (h) and (i) of this section, Israels increased population due to its absorption of immigrants, and the liberalization by the Government of Israel of its trade policy with the United States, the amount of United States investment goods and services purchased for use in or with respect to the country of Israel will substantially increase.
(k) Reports 
The President shall report to Congress by December 31 of each fiscal year until December 31, 1999, regarding the implementation of this section.
(l) Applicability of certain sections 
Section 2183 of this title shall apply to guarantees issued under subsection (a) of this section in the same manner as such section applies to guarantees issued under section 2182 of this title, except that subsections (a), (e)(1), (g), and (j) of section 2183 of this title shall not apply to such guarantees and except that, to the extent section 2183 of this title is inconsistent with the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.], that Act shall apply. Loans shall be guaranteed under this section without regard to sections 2181, 2182, and 2198 (c) of this title. Notwithstanding section 2183 (f) of this title, the interest rate for loans guaranteed under this section may include a reasonable fee to cover the costs and fees incurred by the borrower in connection with this program or financing under this section in the event the borrower elects not to finance such costs or fees out of loan principal. Guarantees once issued hereunder shall be unconditional and fully and freely transferable.
(m) Terms and conditions 

(1) Each loan guarantee issued under this section shall guarantee 100 percent of the principal and interest payable on such loans.
(2) The standard terms of any loan or increment guaranteed under this section shall be 30 years with semiannual payments of interest only over the first 10 years, and with semiannual payments of principal and interest on a level payment basis, over the last 20 years thereof, except that the guaranteed loan or any increments issued in a single transaction may include obligations having different maturities, interest rates, and payment terms if the aggregate scheduled debt service for all obligations issued in a single transaction equals the debt service for a single loan or increment of like amount having the standard terms described in this sentence. The guarantor shall not have the right to accelerate any guaranteed loan or increment or to pay any amounts in respect of the guarantees issued other than in accordance with the original payment terms of the loan. For purposes of determining the maximum principal amount of any loan or increment to be guaranteed under this section, the principal amount of each such loan or increment shall be
(A) in the case of any loan issued on a discount basis, the original issue price (excluding any transaction costs) thereof; or
(B) in the case of any loan issue[1] on an interest-bearing basis, the stated principal amount thereof.
[1] So in original. Probably should be “issued”.

22 USC 2191 - Congressional statement of purpose; creation and functions of Corporation

22 USC 2191a - Additional requirements

(a) Worker rights 

(1) Limitation on OPIC activities 
The Corporation may insure, reinsure, guarantee, or finance a project only if the country in which the project is to be undertaken is taking steps to adopt and implement laws that extend internationally recognized worker rights, as defined in section 2467 (4) of title 19, to workers in that country (including any designated zone in that country). The Corporation shall also include the following language, in substantially the following form, in all contracts which the Corporation enters into with eligible investors to provide financial support under this subpart: The investor agrees not to take actions to prevent employees of the foreign enterprise from lawfully exercising their right of association and their right to organize and bargain collectively. The investor further agrees to observe applicable laws relating to a minimum age for employment of children, acceptable conditions of work with respect to minimum wages, hours of work, and occupational health and safety, and not to use forced labor. The investor is not responsible under this paragraph for the actions of a foreign government.
(2) Use of annual reports on workers rights 
The Corporation shall, in making its determinations under paragraph (1), use the reports submitted to the Congress pursuant to section 2464 of title 19. The restriction set forth in paragraph (1) shall not apply until the first such report is submitted to the Congress.
(3) Waiver 
Paragraph (1) shall not prohibit the Corporation from providing any insurance, reinsurance, guaranty, or financing with respect to a country if the President determines that such activities by the Corporation would be in the national economic interests of the United States. Any such determination shall be reported in writing to the Congress, together with the reasons for the determination.
(4) Operations of OPIC in the People’s Republic of China 
In making a determination under this section for the Peoples Republic of China, the Corporation shall discuss fully and completely the justification for making such determination with respect to each item set forth in subparagraphs (A) through (E) of section 2467 (4) of title 19.
(b) Environmental impact 
The Board of Directors of the Corporation shall not vote in favor of any action proposed to be taken by the Corporation that is likely to have significant adverse environmental impacts that are sensitive, diverse, or unprecedented, unless for at least 60 days before the date of the vote
(1) an environmental impact assessment or initial environmental audit, analyzing the environmental impacts of the proposed action and of alternatives to the proposed action has been completed by the project applicant and made available to the Board of Directors; and
(2) such assessment or audit has been made available to the public of the United States, locally affected groups in the host country, and host country nongovernmental organizations.
(c) Public hearings 

(1) The Board shall hold at least one public hearing each year in order to afford an opportunity for any person to present views as to whether the Corporation is carrying out its activities in accordance with section 2191 of this title and this section or whether any investment in a particular country should have been or should be extended insurance, reinsurance, guarantees, or financing under this subpart.
(2) In conjunction with each meeting of its Board of Directors, the Corporation shall hold a public hearing in order to afford an opportunity for any person to present views regarding the activities of the Corporation. Such views shall be made part of the record.

22 USC 2192 - Capital of the Corporation

The President is authorized to pay in as capital of the Corporation, out of dollar receipts made available through the appropriation process from loans made pursuant to subchapter I of this chapter and from loans made under the Mutual Security Act of 1954, as amended, for the fiscal year 1970 not to exceed $20,000,000 and for the fiscal year 1971 not to exceed $20,000,000. Upon the payment of such capital by the President, the Corporation shall issue an equivalent amount of capital stock to the Secretary of the Treasury.

22 USC 2193 - Organization and management

(a) Structure 
The Corporation shall have a Board of Directors, a President, an Executive Vice President, and such other officers and staff as the Board of Directors may determine.
(b) Board of directors 
All powers of the Corporation shall vest in and be exercised by or under the authority of its Board of Directors (the Board) which shall consist of fifteen Directors, including the Chairman, with eight Directors constituting a quorum for the transaction of business. Eight Directors shall be appointed by the President of the United States, by and with the advice and consent of the Senate, and shall not be officials or employees of the Government of the United States. At least two of the eight Directors appointed under the preceding sentence shall be experienced in small business, one in organized labor, and one in cooperatives. Each such Director shall be appointed for a term of no more than three years. The terms of no more than three such Directors shall expire in any one year. Such Directors shall serve until their successors are appointed and qualified and may be reappointed. The other Directors shall be principal officers of the Government of the United States whose duties relate to the programs of the Corporation, including the President of the Corporation, the Administrator of the Agency for International Development, the United States Trade Representative, and one such officer of the Department of Labor, designated by and serving at the pleasure of the President of the United States. The United States Trade Representative may designate a Deputy United States Trade Representative to serve on the Board in place of the United States Trade Representative. There shall be a Chairman and a Vice Chairman of the Board, both of whom shall be designated by the President of the United States from among the Directors of the Board other than those appointed under the second sentence of the first paragraph of this subsection. All Directors who are not officers of the Corporation or officials of the Government of the United States shall be compensated at a rate equivalent to that of level IV of the Executive Schedule when actually engaged in the business of the Corporation and may be paid per diem in lieu of subsistence at the applicable rate prescribed in the standardized Government travel regulations, as amended from time to time, while away from their homes or usual places of business.
(c) President 
The President of the Corporation shall be appointed by the President of the United States, by and with the advice and consent of the Senate, and shall serve at the pleasure of the President. In making such appointment, the President shall take into account private business experience of the appointee. The President of the Corporation shall be its Chief Executive Officer and responsible for the operations and management of the Corporation, subject to bylaws and policies established by the Board.
(d) Officers and staff 
The Executive Vice President of the Corporation shall be appointed by the President of the United States, by and with the advice and consent of the Senate, and shall serve at the pleasure of the President. Other officers, attorneys, employees, and agents shall be selected and appointed by the Corporation, and shall be vested with such powers and duties as the Corporation may determine. Of such persons employed by the Corporation, not to exceed twenty may be appointed, compensated, or removed without regard to the civil service laws and regulations: Provided, That under such regulations as the President of the United States may prescribe, officers and employees of the United States Government who are appointed to any of the above positions may be entitled, upon removal from such position, except for cause, to reinstatement to the position occupied at the time of appointment or to a position of comparable grade and salary. Such positions shall be in addition to those otherwise authorized by law, including those authorized by section 5108 of title 5.
(e) Investment advisory council 
The Board shall take prompt measures to increase the loan, guarantee, and insurance programs, and financial commitments, of the Corporation in sub-Saharan Africa, including through the use of an investment advisory council to assist the Board in developing and implementing policies, programs, and financial instruments with respect to sub-Saharan Africa. In addition, the investment advisory council shall make recommendations to the Board on how the Corporation can facilitate greater support by the United States for trade and investment with and in sub-Saharan Africa. The investment advisory council shall terminate 4 years after May 18, 2000.

22 USC 2194 - Investment insurance and other programs

The Corporation is hereby authorized to do the following:
(a) Investment insurance 

(1) To issue insurance, upon such terms and conditions as the Corporation may determine, to eligible investors assuring protection in whole or in part against any or all of the following risks with respect to projects which the Corporation has approved
(A) inability to convert into United States dollars other currencies, or credits in such currencies, received as earnings or profits from the approved project, as repayment or return of the investment therein, in whole or in part, or as compensation for the sale or disposition of all or any part thereof;
(B) loss of investment, in whole or in part, in the approved project due to expropriation or confiscation by action of a foreign government or any political subdivision thereof;
(C) loss due to war, revolution, insurrection, or civil strife; and
(D) loss due to business interruption caused by any of the risks set forth in subparagraphs (A), (B), and (C).
(2) Recognizing that major private investments in less developed friendly countries or areas are often made by enterprises in which there is multinational participation, including significant United States private participation, the Corporation may make arrangements with foreign governments (including agencies, instrumentalities, or political subdivisions thereof) or with multilateral organizations and institutions for sharing liabilities assumed under investment insurance for such investments and may in connection therewith issue insurance to investors not otherwise eligible hereunder, except that liabilities assumed by the Corporation under the authority of this subsection shall be consistent with the purposes of this subpart and that the maximum share of liabilities so assumed shall not exceed the proportionate participation by eligible investors in the project.
(3) Not more than 10 per centum of the maximum contingent liability of investment insurance which the Corporation is permitted to have outstanding under section 2195 (a)(1)1 of this title shall be issued to a single investor.
(4) Before issuing insurance for the first time for loss due to business interruption, and in each subsequent instance in which a significant expansion is proposed in the type of risk to be insured under the definition of civil strife or business interruption, the Corporation shall, at least sixty days before such insurance is issued, submit to the Committee on Foreign Relations of the Senate and the Committee on Foreign Affairs of the House of Representatives a report with respect to such insurance, including a thorough analysis of the risks to be covered, anticipated losses, and proposed rates and reserves and, in the case of insurance for loss due to business interruption, an explanation of the underwriting basis upon which the insurance is to be offered. Any such report with respect to insurance for loss due to business interruption shall be considered in accordance with the procedures applicable to reprogramming notifications pursuant to section 2394–1 of this title.
(b) Investment guaranties 
To issue to eligible investors guaranties of loans and other investments made by such investors assuring against loss due to such risks and upon such terms and conditions as the Corporation may determine: Provided, however, That such guaranties on other than loan investments shall not exceed 75 per centum of such investment: Provided further, That except for loan investments for credit unions made by eligible credit unions or credit union associations, the aggregate amount of investment (exclusive of interest and earnings) so guaranteed with respect to any project shall not exceed, at the time of issuance of any such guaranty, 75 per centum of the total investment committed to any such project as determined by the Corporation, which determination shall be conclusive for purposes of the Corporations authority to issue any such guaranty: Provided further, That not more than 15 per centum of the maximum contingent liability of investment guaranties which the Corporation is permitted to have outstanding under section 2195 (a)(2)1 of this title shall be issued to a single investor.
(c) Direct investment 
To make loans in United States dollars repayable in dollars or loans in foreign currencies (including, without regard to section 1306 of title 31, such foreign currencies which the Secretary of the Treasury may determine to be excess to the normal requirements of the United States and the Director of the Office of Management and Budget may allocate) to firms privately owned or of mixed private and public ownership upon such terms and conditions as the Corporation may determine. Loans may be made under this subsection only for projects that are sponsored by or significantly involve United States small business or cooperatives. The Corporation may designate up to 25 percent of any loan under this subsection for use in the development or adaptation in the United States of new technologies or new products or services that are to be used in the project for which the loan is made and are likely to contribute to the economic or social development of less developed countries. No loan may be made under this subsection to finance any operation for the extraction of oil or gas. The aggregate amount of loans under this subsection to finance operations for the mining or other extraction of any deposit of ore or other nonfuel minerals may not in any fiscal year exceed $4,000,000.
(d) Investment encouragement 
To initiate and support through financial participation, incentive grant, or otherwise, and on such terms and conditions as the Corporation may determine, the identification, assessment, surveying and promotion of private investment opportunities, utilizing wherever feasible and effective the facilities of private organizations or private investors, except that
(1) the Corporation shall not finance any survey to ascertain the existence, location, extent, or quality of, or to determine the feasibility of undertaking operations for the extraction of, oil or gas; and
(2) expenditures financed by the Corporation during any fiscal year on surveys to ascertain the existence, location, extent, or quality of, or to determine the feasibility of undertaking operations for the extraction of nonfuel minerals may not exceed $200,000.
(e) Special projects and programs 
To administer and manage special projects and programs, including programs of financial and advisory support which provide private technical, professional, or managerial assistance in the development of human resources, skills, technology, capital savings and intermediate financial and investment institutions and cooperatives and including the initiation of incentives, grants, and studies for renewable energy and other small business activities. The funds for these projects and programs may, with the Corporations concurrence, be transferred to it for such purposes under the authority of section 2392 (a) of this title or from other sources, public or private. Administrative funds may not be made available for incentives, grants, and studies for renewable energy and other small business activities.
(f) Additional insurance functions 

(1) To make and carry out contracts of insurance or reinsurance, or agreements to associate or share risks, with insurance companies, financial institutions, any other persons, or groups thereof, and employing the same, where appropriate, as its agent, or acting as their agent, in the issuance and servicing of insurance, the adjustment of claims, the exercise of subrogation rights, the ceding and accepting of reinsurance, and in any other matter incident to an insurance business; except that such agreements and contracts shall be consistent with the purposes of the Corporation set forth in section 2191 of this title and shall be on equitable terms.
(2) To enter into pooling or other risk-sharing arrangements with multinational insurance or financing agencies or groups of such agencies.
(3) To hold an ownership interest in any association or other entity established for the purposes of sharing risks under investment insurance.
(4) To issue, upon such terms and conditions as it may determine, reinsurance of liabilities assumed by other insurers or groups thereof in respect of risks referred to in subsection (a)(1) of this section. The amount of reinsurance of liabilities under this subpart which the Corporation may issue shall not in the aggregate exceed at any one time an amount equal to the amount authorized for the maximum contingent liability outstanding at any one time under section 2195 (a)(1)1 of this title. All reinsurance issued by the Corporation under this subsection shall require that the reinsured party retain for his own account specified portions of liability, whether first loss or otherwise.
(g) Pilot equity finance program 

(1) Authority for pilot program 
In order to study the feasibility and desirability of a program of equity financing, the Corporation is authorized to establish a 4-year pilot program under which it may, on the limited basis prescribed in paragraphs (2) through (5), purchase, invest in, or otherwise acquire equity or quasi-equity securities of any firm or entity, upon such terms and conditions as the Corporation may determine, for the purpose of providing capital for any project which is consistent with the provisions of this subpart, except that
(A) the aggregate amount of the Corporations equity investment with respect to any project shall not exceed 30 percent of the aggregate amount of all equity investment made with respect to such project at the time that the Corporations equity investment is made, except for securities acquired through the enforcement of any lien, pledge, or contractual arrangement as a result of a default by any party under any agreement relating to the terms of the Corporations investment; and
(B) the Corporations equity investment under this subsection with respect to any project, when added to any other investments made or guaranteed by the Corporation under subsection (b) or (c) of this section with respect to such project, shall not cause the aggregate amount of all such investment to exceed, at the time any such investment is made or guaranteed by the Corporation, 75 percent of the total investment committed to such project as determined by the Corporation.

The determination of the Corporation under subparagraph (B) shall be conclusive for purposes of the Corporations authority to make or guarantee any such investment.

(2) Equity authority limited to projects in sub-Saharan Africa and Caribbean basin and marine transportation projects globally 
Equity investments may be made under this subsection only in projects in countries eligible for financing under this subpart that are countries in sub-Saharan Africa or countries designated as beneficiary countries under section 2702 of title 19 and in marine transportation projects in countries and areas eligible for OPIC support worldwide using United States commercial maritime expertise.
(3) Additional criteria 
In making investment decisions under this subsection, the Corporation shall give preferential consideration to projects sponsored by or significantly involving United States small business or cooperatives. The Corporation shall also consider the extent to which the Corporations equity investment will assist in obtaining the financing required for the project.
(4) Disposition of equity interest 
Taking into consideration, among other things, the Corporations financial interests and the desirability of fostering the development of local capital markets in less developed countries, the Corporation shall endeavor to dispose of any equity interest it may acquire under this subsection within a period of 10 years from the date of acquisition of such interest.
(5) Implementation 
To the extent provided in advance in appropriations Acts, the Corporation is authorized to create such legal vehicles as may be necessary for implementation of its authorities, which legal vehicles may be deemed non-Federal borrowers for purposes of the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.]. Income and proceeds of investments made pursuant to this subsection may be used to purchase equity or quasi-equity securities in accordance with the provisions of this section: Provided, however, That such purchases shall not be limited to the 4-year period of the pilot program: Provided further, That the limitations contained in paragraph (2) shall not apply to such purchases.
(6) Consultations with Congress 
The Corporation shall consult annually with the Committee on Foreign Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate on the implementation of the pilot equity finance program established under this subsection.
(h) Local currency guaranties for eligible investors 
To issue to
(1) eligible investors, or
(2) local financial institutions, guaranties,

denominated in currencies other than United States dollars, of loans and other investments made to projects sponsored by or significantly involving eligible investors, assuring against loss due to such risks and upon such terms and conditions as the Corporation may determine, for projects that the Corporation determines to have significant developmental effects or as the Corporation determines to be necessary or appropriate to carry out the purposes of this subpart.

[1] See References in Text note below.

22 USC 2194a - Contract authority of Corporation; specific authorization in appropriation Acts required

The authority of the Overseas Private Investment Corporation to enter into contracts under section 2194 (a) of this title shall be effective for any fiscal year beginning after September 30, 1981, only to such extent or in such amounts as are provided in appropriation Acts.

22 USC 2194b - Enhancing private political risk insurance industry

(a) Cooperative programs 
In order to encourage greater availability of political risk insurance for eligible investors by enhancing the private political risk insurance industry in the United States, and to the extent consistent with this subpart, the Corporation shall undertake programs of cooperation with such industry, and in connection with such programs may engage in the following activities:
(1) Utilizing its statutory authorities, encourage the development of associations, pools, or consortia of United States private political risk insurers.
(2) Share insurance risks (through coinsurance, contingent insurance, or other means) in a manner that is conducive to the growth and development of the private political risk insurance industry in the United States.
(3) Notwithstanding section 2197 (e) of this title, upon the expiration of insurance provided by the Corporation for an investment, enter into risk-sharing agreements with United States private political risk insurers to insure any such investment; except that, in cooperating in the offering of insurance under this paragraph, the Corporation shall not assume responsibility for more than 50 percent of the insurance being offered in each separate transaction.
(b) Advisory group 

(1) Establishment and membership 
The Corporation shall establish a group to advise the Corporation on the development and implementation of the cooperative programs under this section. The group shall be appointed by the Board and shall be composed of up to 12 members, including the following:
(A) Up to seven persons from the private political risk insurance industry, of whom no fewer than two shall represent private political risk insurers, one shall represent private political risk reinsurers, and one shall represent insurance or reinsurance brokerage firms.
(B) Up to four persons, other than persons described in subparagraph (A), who are purchasers of political risk insurance.
(2) Functions 
The Corporation shall call upon members of the advisory group, either collectively or individually, to advise it regarding the capability of the private political risk insurance industry to meet the political risk insurance needs of United States investors, and regarding the development of cooperative programs to enhance such capability.
(3) Meetings 
The advisory group shall meet not later than September 30, 1989, and at least annually thereafter. The Corporation may from time to time convene meetings of selected members of the advisory group to address particular questions requiring their specialized knowledge.
(4) Federal Advisory Committee Act 
The advisory group shall not be subject to the Federal Advisory Committee Act (5 U.S.C. App.).

22 USC 2195 - Issuing authority, direct investment authority and reserves

(a) Issuing authority 

(1) Insurance and financing 

(A) The maximum contingent liability outstanding at any one time pursuant to insurance issued under section 2194 (a) of this title, and the amount of financing issued under sections[1] 2194(b) and (c) of this title, shall not exceed in the aggregate $29,000,000,000.
(B) Subject to spending authority provided in appropriations Acts pursuant to section 661c (b) of title 2, the Corporation is authorized to transfer such sums as are necessary from its noncredit activities to pay for the subsidy and administrative costs of the investment guaranties and direct loan programs under subsections (b) and (c) of section 2194 of this title.
(2) Termination of authority 
The authority of subsections (a), (b), and (c) of section 2194 of this title shall continue until September 30, 2007.
(b) Repealed. Pub. L. 102–549, title I, § 104(a)(3), Oct. 28, 1992, 106 Stat. 3652 
(c) Insurance Reserve; Guaranty Reserve 
There shall be established in the Treasury of the United States a noncredit account revolving fund, which shall be available for discharge of liabilities, as provided in subsection (d) of this section, until such time as all such liabilities have been discharged or have expired or until all of the fund has been expended in accordance with the provisions of this section. Such fund shall be funded by:
(1)  the funds heretofore available to discharge liabilities under predecessor guaranty authority (including housing guaranty authorities), less both the amount made available for housing guaranty programs pursuant to section 2183 (b) of this title and the amount made available to the Corporation pursuant to subsection (e) of this section; and
(2)  such sums as shall be appropriated pursuant to subsection (f) of this section for such purpose. Additional amounts may thereafter be transferred to such fund pursuant to section 2196 of this title.
(d) Priority of funds used to discharge liabilities 
Any payments made to discharge liabilities under investment insurance or reinsurance issued under section 2194 of this title, under similar predecessor guaranty authority, or under section 2194b of this title shall be paid first out of the noncredit account revolving fund, as long as such fund remains available, and thereafter out of funds made available pursuant to subsection (f) of this section. Any payments made to discharge liabilities under guaranties issued under section 2194 (b) of this title or 2194(c) of this title shall be paid in accordance with the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.].
(e) Reserves from predecessor guaranty authority 
There is hereby authorized to be transferred to the Corporation at its call, for the purposes specified in section 2196 of this title, all fees and other revenues collected under predecessor guaranty authority from December 31, 1968, available as of the date of such transfer.
(f) Authorization of appropriations; issuance, etc., of obligations by Corporation for purchase by Secretary of the Treasury 
There are authorized to be appropriated to the Corporation, to remain available until expended, such amounts as may be necessary from time to time to replenish or increase the noncredit account revolving fund, to discharge the liabilities under insurance, reinsurance, or guaranties issued by the Corporation or issued under predecessor guaranty authority, or to discharge obligations of the Corporation purchased by the Secretary of the Treasury pursuant to this subsection. However, no appropriations shall be made to augment the noncredit account revolving fund until the amount of funds in the noncredit account revolving fund is less than $25,000,000. Any appropriations to augment the noncredit account revolving fund shall then only be made either pursuant to specific authorization enacted after August 27, 1974, or to satisfy the full faith and credit provision of section 2197 (c) of this title. In order to discharge liabilities under investment insurance or reinsurance, the Corporation is authorized to issue from time to time for purchase by the Secretary of the Treasury its notes, debentures, bonds, or other obligations; but the aggregate amount of such obligations outstanding at any one time shall not exceed $100,000,000. Any such obligation shall be repaid to the Treasury within one year after the date of issue of such obligation. Any such obligation shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States of comparable maturities during the month preceding the issuance of any obligation authorized by this subsection. The Secretary of the Treasury shall purchase any obligation of the Corporation issued under this subsection, and for such purchase he may use as a public debt transaction the proceeds of the sale of any securities issued under chapter 31 of title 31 after August 27, 1974. The purpose for which securities may be issued under such chapter shall include any such purchase.
[1] So in original. Probably should be “section”.

22 USC 2196 - Income and revenues

In order to carry out the purposes of the Corporation, all revenues and income transferred to or earned by the Corporation, from whatever source derived, shall be held by the Corporation and shall be available to carry out its purposes, including without limitation
(a) payment of all expenses of the Corporation, including investment promotion expenses;
(b) transfers and additions to the insurance or guaranty reserves, the Direct Investment Fund established pursuant to section 2195 of this title, and such other funds or reserves as the Corporation may establish, at such time and in such amounts as the Board may determine; and
(c) payment of dividends, on capital stock, which shall consist of and be paid from net earnings of the Corporation after payments, transfers, and additions under subsections (a) and (b) hereof.

22 USC 2197 - General provisions relating to insurance, guaranty, financing, and reinsurance programs

(a) Scope 
Insurance, guaranties, and reinsurance issued under this subpart shall cover investment made in connection with projects in any less developed friendly country or area with the government of which the President of the United States has agreed to institute a program for insurance, guaranties, or reinsurance.
(b) Protection of interest 
The Corporation shall determine that suitable arrangements exist for protecting the interest of the Corporation in connection with any insurance, guaranty or reinsurance issued under this subpart, including arrangements concerning ownership, use, and disposition of the currency, credits, assets, or investments on account of which payment under such insurance, guaranty or reinsurance is to be made, and any right, title, claim, or cause of action existing in connection therewith.
(c) Guaranties as obligations backed by full faith and credit of United States 
All guaranties issued prior to July 1, 1956, all guaranties issued under sections 1872 (b)1 and 1933 (b)1 of this title, all guaranties heretofore issued pursuant to prior guaranty authorities repealed by the Foreign Assistance Act of 1969, and all insurance, reinsurance and guaranties issued pursuant to this subpart shall constitute obligations, in accordance with the terms of such insurance, reinsurance or guaranties, of the United States of America and the full faith and credit of the United States of America is hereby pledged for the full payment and performance of such obligations.
(d) Fees 

(1) In general 
Fees may be charged for providing insurance, reinsurance, financing, and other services under this subpart in amounts to be determined by the Corporation. In the event fees charged for insurance, reinsurance, financing, or other services are reduced, fees to be paid under existing contracts for the same type of insurance, reinsurance, financing, or services and for similar guarantees issued under predecessor guarantee authority may be reduced.
(2) Credit transaction costs 
Project-specific transaction costs incurred by the Corporation relating to loan obligations or loan guarantee commitments covered by the provisions of the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.], including the costs of project-related travel and expenses for legal representation provided by persons outside the Corporation and other similar expenses which are charged to the borrower, shall be paid out of the appropriate finance account established pursuant to section 505(b) of such Act [2 U.S.C. 661d (b)].
(3) Noncredit transaction costs 
Fees paid for the project-specific transaction costs and other direct costs associated with services provided to specific investors or potential investors pursuant to section 2194 of this title (other than those covered in paragraph (2)), including financing, insurance, reinsurance, missions, seminars, conferences, and other preinvestment services, shall be available for obligation for the purposes for which they were collected, notwithstanding any other provision of law.
(e) Maximum term of obligation 
No insurance, guaranty, or reinsurance of any equity investment shall extend beyond twenty years from the date of issuance.
(f) Limitations on amounts 
Compensation for insurance, reinsurance, or guaranties issued under this subpart shall not exceed the dollar value, as of the date of the investment, of the investment made in the project with the approval of the Corporation plus interest, earnings, or profits actually accrued on such investment to the extent provided by such insurance, reinsurance, or guaranty, except that the Corporation may provide that
(1)  appropriate adjustments in the insured dollar value be made to reflect the replacement cost of project assets,
(2)  compensation for a claim of loss under insurance of an equity investment may be computed on the basis of the net book value attributable to such equity investment on the date of loss, and
(3)  compensation for loss due to business interruption may be computed on a basis to be determined by the Corporation which reflects amounts lost. Notwithstanding the preceding sentence, the Corporation shall limit the amount of direct insurance and reinsurance issued by it under section 2194 or 2194b of this title so that risk of loss as to at least 10 per centum of the total investment of the insured and its affiliates in the project is borne by the insured and such affiliates, except that such limitation shall not apply to direct insurance or reinsurance of loans by banks or other financial institutions to unrelated parties.
(g) Fraud or misrepresentation 
No payment may be made under any guaranty, insurance, or reinsurance issued pursuant to this subpart for any loss arising out of fraud or misrepresentation for which the party seeking payment is responsible.
(h) Limits of obligation 
Insurance, guaranties, or reinsurance of a loan or equity investment of an eligible investor in a foreign bank, finance company, or other credit institution shall extend only to such loan or equity investment and not to any individual loan or equity investment made by such foreign bank, finance company, or other credit institution.
(i) Claims settlement 
Claims arising as a result of insurance, reinsurance, or guaranty operations under this subpart or under predecessor guaranty authority may be settled, and disputes arising as a result thereof may be arbitrated with the consent of the parties, on such terms and conditions as the Corporation may determine. Payment made pursuant to any such settlement, or as a result of an arbitration award, shall be final and conclusive notwithstanding any other provision of law.
(j) Presumption of compliance 
Each guaranty contract executed by such officer or officers as may be designated by the Board shall be conclusively presumed to be issued in compliance with the requirements of this chapter.
(k) Balance of payments 
In making a determination to issue insurance, guaranties, or reinsurance under this subpart, the Corporation shall consider the possible adverse effect of the dollar investment under such insurance, guaranty, or reinsurance upon the balance of payments of the United States.
(l) Convictions under Foreign Corrupt Practices Act of 1977; prohibition on payments for losses resulting from unlawful activities; suspension from eligibility of receipt of financial support 

(1) No payment may be made under any insurance or reinsurance which is issued under this subpart on or after April 24, 1978, for any loss occurring with respect to a project, if the preponderant cause of such loss was an act by the investor seeking payment under this subpart, by a person possessing majority ownership and control of the investor at the time of the act, or by any agent of such investor or controlling person, and a court of the United States has entered a final judgment that such act constituted a violation under the Foreign Corrupt Practices Act of 1977.
(2) Not later than 120 days after April 24, 1978, the Corporation shall adopt regulations setting forth appropriate conditions under which any person convicted under the Foreign Corrupt Practices Act of 1977 for an offense related to a project insured or otherwise supported by the Corporation shall be suspended, for a period of not more than five years, from eligibility to receive any insurance, reinsurance, guaranty, loan, or other financial support authorized by this subpart.
(m) Notification of countries of environmental restrictions on certain activities 

(1) Before finally providing insurance, reinsurance, guarantees, or financing under this subpart for any environmentally sensitive investment in connection with a project in a country, the Corporation shall notify appropriate government officials of that country of
(A) all guidelines and other standards adopted by the International Bank for Reconstruction and Development and any other international organization relating to the public health or safety or the environment which are applicable to the project; and
(B) to the maximum extent practicable, any restriction under any law of the United States relating to public health or safety or the environment that would apply to the project if the project were undertaken in the United States.

The notification under the preceding sentence shall include a summary of the guidelines, standards, and restrictions referred to in subparagraphs (A) and (B), and may include any environmental impact statement, assessment, review, or study prepared with respect to the investment pursuant to section 2199 (g) of this title.

(2) Before finally providing insurance, reinsurance, guarantees, or financing for any investment subject to paragraph (1), the Corporation shall take into account any comments it receives on the project involved.
(3) On or before September 30, 1986, the Corporation shall notify appropriate government officials of a country of the guidelines, standards, and legal restrictions described in paragraph (1) that apply to any project in that country
(A) which the Corporation identifies as potentially posing major hazards to public health and safety or the environment; and
(B) for which the Corporation provided insurance, reinsurance, guarantees, or financing under this subpart before December 23, 1985, and which is in the Corporations portfolio on that date.
(n) Penalties for fraud 
Whoever knowingly makes any false statement or report, or willfully overvalues any land, property, or security, for the purpose of influencing in any way the action of the Corporation with respect to any insurance, reinsurance, guarantee, loan, equity investment, or other activity of the Corporation under section 2194 of this title or any change or extension of any such insurance, reinsurance, guarantee, loan, equity investment, or activity, by renewal, deferment of action or otherwise, or the acceptance, release, or substitution of security therefor, shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.
(o) Use of local currencies 
Direct loans or investments made in order to preserve the value of funds received in inconvertible foreign currency by the Corporation as a result of activities conducted pursuant to section 2194 (a) of this title shall not be considered in determining whether the Corporation has made or has outstanding loans or investments to the extent of any limitation on obligations and equity investment imposed by or pursuant to this subpart. The provisions of section 504(b) of the Federal Credit Reform Act of 1990 [2 U.S.C. 661c (b)] shall not apply to direct loan obligations made with funds described in this subsection.
[1] See References in Text note below.

22 USC 2198 - Definitions

As used in this subpart
(a) the term investment includes any contribution or commitment of funds, commodities, services, patents, processes, or techniques, in the form of
(1)  a loan or loans to an approved project,
(2)  the purchase of a share of ownership in any such project,
(3)  participation in royalties, earnings, or profits of any such project, and
(4)  the furnishing of commodities or services pursuant to a lease or other contract;
(b) the term expropriation includes, but is not limited to, any abrogation, repudiation, or impairment by a foreign government, a political subdivision of a foreign government, or a corporation owned or controlled by a foreign government, of its own contract with an investor with respect to a project, where such abrogation, repudiation, or impairment is not caused by the investors own fault or misconduct, and materially adversely affects the continued operation of the project;
(c) the term eligible investor means:
(1)  United States citizens;
(2)  corporations, partnerships, or other associations including nonprofit">nonprofit associations, created under the laws of the United States, any State or territory thereof, or the District of Columbia, and substantially beneficially owned by United States citizens; and
(3)  foreign corporations, partnerships, of other associations wholly owned by one or more such United States citizens, corporations, partnerships, or other associations: Provided, however, That the eligibility of such foreign corporation shall be determined without regard to any shares, in aggregate less than 5 per centum of the total of issued and subscribed share capital, held by other than the United States owners: Provided further, That in the case of any loan investment a final determination of eligibility may be made at the time the insurance or guaranty is issued; in all other cases, the investor must be eligible at the time a claim arises as well as at the time the insurance or guaranty is issued;
(d) the term noncredit account revolving fund means the account in which funds under section 2196 of this title and all funds from noncredit activities are held;
(e) the term noncredit activities means all activities of the Corporation other than its loan guarantee program under section 2194 (b) of this title and its direct loan program under section 2194 (c) of this title;
(f) the term predecessor guaranty authority means prior guaranty authorities (other than housing guaranty authorities) repealed by the Foreign Assistance Act of 1969, and sections 1509 (b)(3), 1872 (b), and 1933 (b)1 of this title (exclusive of authority relating to informational media guaranties); and
(g) the term local financial institution
(1) means any bank or financial institution that is organized under the laws of any country or area in which the Corporation operates; but
(2) does not include a branch, however organized, of a bank or other financial institution that is organized under the laws of a country in which the Corporation does not operate.
[1] See References in Text note below.

22 USC 2199 - General provisions and powers

(a) Place of residence 
The Corporation shall have its principal office in the District of Columbia and shall be deemed, for purposes of venue in civil actions, to be a resident thereof.
(b) Transfer of prior obligations, etc.; administration prior to transfer 
The President shall transfer to the Corporation, at such time as he may determine, all obligations, assets and related rights and responsibilities arising out of, or related to, predecessor programs and authorities similar to those provided for in section 2194 (a), (b), and (d) of this title. Until such transfer, the agency heretofore responsible for such predecessor programs shall continue to administer such assets and obligations, and such programs and activities authorized under this subpart as may be determined by the President.
(c) Audits of the Corporation 

(1) The Corporation shall be subject to the applicable provisions of chapter 91 of title 31, except as otherwise provided in this subpart.
(2) An independent certified public accountant shall perform a financial and compliance audit of the financial statements of the Corporation at least once every three years, in accordance with generally accepted Government auditing standards for a financial and compliance audit, as issued by the Comptroller General. The independent certified public accountant shall report the results of such audit to the Board. The financial statements of the Corporation shall be presented in accordance with generally accepted accounting principles. These financial statements and the report of the accountant shall be included in a report which contains, to the extent applicable, the information identified in section 9106 of title 31, and which the Corporation shall submit to the Congress not later than six and one-half months after the end of the last fiscal year covered by the audit. The Government Accountability Office may review the audit conducted by the accountant and the report to the Congress in the manner and at such times as the Government Accountability Office considers necessary.
(3) In lieu of the financial and compliance audit required by paragraph (2), the Government Accountability Office shall, if the Office considers it necessary or upon the request of the Congress, audit the financial statements of the Corporation in the manner provided in paragraph (2). The Corporation shall reimburse the Government Accountability Office for the full cost of any audit conducted under this paragraph.
(4) All books, accounts, financial records, reports, files, workpapers, and property belonging to or in use by the Corporation and the accountant who conducts the audit under paragraph (2), which are necessary for purposes of this subsection, shall be made available to the representatives of the Government Accountability Office.
(d) Powers of Corporation 
To carry out the purposes of this subpart, the Corporation is authorized to adopt and use a corporate seal, which shall be judicially noticed; to sue and be sued in its corporate name; to adopt, amend, and repeal bylaws governing the conduct of its business and the performance of the powers and duties granted to or imposed upon it by law; to acquire, hold or dispose of, upon such terms and conditions as the Corporation may determine, any property, real, personal, or mixed, tangible or intangible, or any interest therein; to invest funds derived from fees and other revenues in obligations of the United States and to use the proceeds therefrom, including earnings and profits, as it shall deem appropriate; to indemnify directors, officers, employees and agents of the Corporation for liabilities and expenses incurred in connection with their Corporation activities; notwithstanding any other provision of law, to represent itself or to contract for representation in all legal and arbitral proceedings; to enter into limited-term contracts with nationals of the United States for personal services to carry out activities in the United States and abroad under subsections (d) and (e) of section 2194 of this title; to purchase, discount, rediscount, sell, and negotiate, with or without its endorsement or guaranty, and guarantee notes, participation certificates, and other evidence of indebtedness (provided that the Corporation shall not issue its own securities, except participation certificates for the purpose of carrying out section 2191 (c) or participation certificates as evidence of indebtedness held by the Corporation in connection with settlement of claims under section 2197 (i) of this title); to make and carry out such contracts and agreements as are necessary and advisable in the conduct of its business; to exercise any priority of the Government of the United States in collecting debts from bankrupt, insolvent, or decedents estates; to determine the character of and the necessity for its obligations and expenditures, and the manner in which they shall be incurred, allowed, and paid, subject to provisions of law specifically applicable to Government corporations; to collect or compromise any obligations assigned to or held by the Corporation, including any legal or equitable rights accruing to the Corporation; and to take such actions as may be necessary or appropriate to carry out the powers herein or hereafter specifically conferred upon it.
(e) Reviews, investigations, and inspections by Inspector General of Agency for International Development 
The Inspector General of the Agency for International Development
(1)  may conduct reviews, investigations, and inspections of all phases of the Corporations operations and activities and
(2)  shall conduct all security activities of the Corporation relating to personnel and the control of classified material. With respect to his responsibilities under this subsection, the Inspector General shall report to the Board. The agency primarily responsible for administering subchapter I of this chapter shall be reimbursed by the Corporation for all expenses incurred by the Inspector General in connection with his responsibilities under this subsection.
(f) Programs for Yugoslavia, Poland, Hungary, Romania, the People’s Republic of China, or Pakistan; national interest 
Except for the provisions of this subpart, no other provision of this chapter or any other law shall be construed to prohibit the operation in Yugoslavia, Poland, Hungary, or any other East European country, or the Peoples Republic of China, or Pakistan of the programs authorized by this subpart, if the President determines that the operation of such program in such country is important to the national interest.
(g) Environmental impact assessments 
The requirements of section 2151p (c) of this title relating to environmental impact statements and environmental assessments shall apply to any investment which the Corporation insures, reinsures, guarantees, or finances under this subpart in connection with a project in a country.
(h) Preparation, maintenance, and contents of development impact profile for investment projects; development of criteria for evaluating projects 
In order to carry out the policy set forth in paragraph (1) of the second undesignated paragraph of section 2191 of this title, the Corporation shall prepare and maintain for each investment project it insures, finances, or reinsures, a development impact profile consisting of data appropriate to measure the projected and actual effects of such project on development. Criteria for evaluating projects shall be developed in consultation with the Agency for International Development.
(i) Observance of and respect for human rights and fundamental freedoms as considerations for conduct of assistance programs, etc.; provisions applicable for determinations; exceptions 
The Corporation shall take into account in the conduct of its programs in a country, in consultation with the Secretary of State, all available information about observance of and respect for human rights and fundamental freedoms in such country and the effect the operation of such programs will have on human rights and fundamental freedoms in such country. The provisions of section 2151n of this title shall apply to any insurance, reinsurance, guaranty, or loan issued by the Corporation for projects in a country, except that in addition to the exception (with respect to benefiting needy people) set forth in subsection (a) of such section, the Corporation may support a project if the national security interest so requires.
(j) Exemption from taxation 
The Corporation, including its franchise, capital, reserves, surplus, advances, intangible property, and income, shall be exempt from all taxation at any time imposed by the United States, by any territory, dependency, or possession of the United States, or by any State, the District of Columbia, or any county, municipality, or local taxing authority.
(k) Publication of policy guidelines 
The Corporation shall publish, and make available to applicants for insurance, reinsurance, guarantees, financing, or other assistance made available by the Corporation under this subpart, the policy guidelines of the Corporation relating to its programs.

22 USC 2200 - Small business development in less developed friendly countries or areas; encouragement by other Federal departments, etc., of broadened participation by United States small business cooperatives and investors; project funding

(a) In general 
The Corporation shall undertake, in cooperation with appropriate departments, agencies, and instrumentalities of the United States as well as private entities and others, to broaden the participation of United States small business, cooperatives, and other small United States investors in the development of small private enterprise in less developed friendly countries or areas. The Corporation shall allocate up to 50 per cent of its annual net income, after making suitable provision for transfers and additions to reserves, to assist and facilitate the development of projects consistent with the provisions of this section. Such funds may be expended, notwithstanding the requirements of section 2191 (a) of this title, on such terms and conditions as the Corporation may determine, through loans, grants, or other programs authorized by section 2194 of this title and section 2194b of this title.
(b) Outreach to minority-owned and women-owned businesses 
The Corporation shall collect data on the involvement of minority- and women-owned businesses in projects supported by the Corporation, including
(1) the amount of insurance and financing provided by the Corporation to such businesses in connection with projects supported by the Corporation; and
(2) to the extent such information is available, the involvement of such businesses in procurement activities conducted or supported by the Corporation.

The Corporation shall include, in its annual report submitted to the Congress under section 2200a of this title, the aggregate data collected under this paragraph, in such form as to quantify the effectiveness of the Corporations outreach activities to minority- and women-owned businesses.

22 USC 2200a - Report to Congress

(a) Annual report 
After the end of each fiscal year, the Corporation shall submit to the Congress a complete and detailed report of its operations during such fiscal year. Such report shall include
(1) an assessment, based upon the development impact profiles required by section 2199 (h) of this title, of the economic and social development impact and benefits of the projects with respect to which such profiles are prepared, and of the extent to which the operations of the Corporation complement or are compatible with the development assistance programs of the United States and other donors; and
(2) a description of any project for which the Corporation
(A) refused to provide any insurance, reinsurance, guaranty, financing, or other financial support, on account of violations of human rights referred to in section 2199 (i) of this title; or
(B) notwithstanding such violations, provided such insurance, reinsurance, guaranty, financing, or financial support, on the basis of a determination
(i)  that the project will directly benefit the needy people in the country in which the project is located, or
(ii)  that the national security interest so requires.
(b) Effect of all projects on employment in United States to be included in annual report 

(1) Each annual report required by subsection (a) of this section shall contain projections of the effects on employment in the United States of all projects for which, during the preceding fiscal year, the Corporation initially issued any insurance, reinsurance, or guaranty or made any direct loan. Each such report shall include projections of
(A) the amount of United States exports to be generated by those projects, both during the start-up phase and over a period of years;
(B) the final destination of the products to be produced as a result of those projects; and
(C) the impact such production will have on the production of similar products in the United States with regard to both domestic sales and exports.
(2) The projections required by this subsection shall be based on an analysis of each of the projects described in paragraph (1).
(3) In reporting the projections on employment required by this subsection, the Corporation shall specify, with respect to each project
(A) any loss of jobs in the United States caused by the project, whether or not the project itself creates other jobs;
(B) any jobs created by the project; and
(C) the country in which the project is located, and the economic sector involved in the project.

No proprietary information may be disclosed under this paragraph.

(c) Repealed. Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36 
(d) Maintenance of records 
The Corporation shall maintain as part of its records
(1) all information collected in preparing the report required by subsection (c) of this section (as in effect before October 1, 1988), whether the information was collected by the Corporation itself or by a contractor; and
(2) a copy of the analysis of each project analyzed in preparing the reports required either by subsection (b) of this section, or by subsection (c) of this section (as in effect before October 1, 1988).
(e) Assessment of cooperative political risk insurance program 
Each annual report required by subsection (a) of this section shall include an assessment of programs implemented by the Corporation under section 2194b (a) of this title, including the following information, to the extent such information is available to the Corporation:
(1) The nature and dollar value of political risk insurance provided by private insurers in conjunction with the Corporation, which the Corporation was not permitted to provide under this subpart.
(2) The nature and dollar value of political risk insurance provided by private insurers in conjunction with the Corporation, which the Corporation was permitted to provide under this subpart.
(3) The manner in which such private insurers and the Corporation cooperated in recovery efforts and claims management.
(f) Information not required to be made available to public excluded from reports 
Subsections (b) and (e) of this section do not require the inclusion in any report submitted pursuant to those subsections of any information which would not be required to be made available to the public pursuant to section 552 of title 5 (relating to freedom of information).

22 USC 2200b - Prohibition on noncompetitive awarding of insurance contracts on OPIC supported exports

(a) Requirement for certification 

(1) In general 
Except as provided in paragraph (3), the investor on whose behalf insurance, reinsurance, guaranties, or other financing is provided under this subpart with respect to a project shall be required to certify to the Corporation that any contract for the export of goods as part of that project will include a clause requiring that United States insurance companies have a fair and open competitive opportunity to provide insurance against risk of loss of such export.
(2) When certification must be made 
The investor shall be required, in every practicable case, to so certify before the insurance, reinsurance, guarantee, or other financing is provided. In any case in which such a certification is not made in advance, the investor shall include in the certification the reasons for the failure to make a certification in advance.
(3) Exception 
Paragraph (1) does not apply with respect to an investor who does not, because of the nature of the investment, have a controlling interest in fact in the project in question.
(b) Reports by United States Trade Representative 
The United States Trade Representative shall review the actions of the Corporation under subsection (a) of this section and, after consultation with representatives of United States insurance companies, shall report to the Congress in the report required by section 2241 (b) of title 19 with respect to such actions.
(c) Definitions 
For purposes of this section
(1) the term United States insurance company includes
(A) an individual, partnership, corporation, holding company, or other legal entity which is authorized, or in the case of a holding company, subsidiaries of which are authorized, by a State to engage in the business of issuing insurance contracts or reinsuring the risk underwritten by insurance companies; and
(B) foreign operations, branches, agencies, subsidiaries, affiliates, or joint ventures of any entity described in subparagraph (A);
(2) United States insurance companies shall be considered to have had a fair and open competitive opportunity to provide insurance if they
(A) have received notice of the opportunity to provide insurance; and
(B) have been evaluated on a nondiscriminatory basis; and
(3) the term State includes the District of Columbia and any commonwealth, territory, or possession of the United States.

subpart v - disadvantaged children in asia

22 USC 2201 - Assistance to disadvantaged children in Asia

(a) Congressional findings 
The Congress recognizes the humanitarian needs of disadvantaged children in Asian countries where there has been or continues to be a heavy presence of United States military and related personnel in recent years. Moreover, the Congress finds that inadequate provision has been made for the care and welfare of such disadvantaged children, particularly those fathered by the[1] United States citizens.
(b) Authority of President 
Accordingly, the President is authorized to expend up to $3,000,000 of funds made available under part I of this subchapter, in addition to funds otherwise available for such purposes, to help meet the needs of these disadvantaged children in Asia by assisting in the expansion and improvement of orphanages, hostels, day care centers, school feeding programs, and health, education, and welfare programs. Assistance provided under this section shall be furnished under the auspices of and by international organizations or private voluntary agencies operating within, and in cooperation with, the countries of Asia where these disadvantaged children reside.
[1] So in original.

subpart vi - microenterprise development assistance

Division A - Grant Assistance

22 USC 2211 - Findings and policy

Congress finds and declares the following:
(1) Access to financial services and the development of microenterprise are vital factors in the stable growth of developing countries and in the development of free, open, and equitable international economic systems.
(2) It is therefore in the best interest of the United States to facilitate access to financial services and assist the development of microenterprise in developing countries.
(3) Access to financial services and the development of microenterprises can be supported by programs providing credit, savings, training, technical assistance, business development services, and other financial services.
(4) Given the relatively high percentage of populations living in rural areas of developing countries, and the combined high incidence of poverty in rural areas and growing income inequality between rural and urban markets, microenterprise programs should target both rural and urban poor.
(5) Microenterprise programs have been successful and should continue to empower vulnerable women in the developing world. The Agency should work to ensure that recipients of microenterprise and microfinance development assistance under this subpart communicate and work with nongovernmental organizations and government organizations to identify and assist victims of trafficking as provided for in section 7104 (a)(1) of this title and women who are victims of or susceptible to other forms of exploitation and violence.
(6) Given that microenterprise programs have been successful in empowering disenfranchised groups such as women, microenterprise programs should also target populations disenfranchised due to race or ethnicity in countries where a strong relationship between poverty and race or ethnicity has been demonstrated, such as countries in Latin America.

22 USC 2211a - Authorization; implementation; targeted assistance

(a) Authorization 
The President is authorized to provide assistance on a non-reimbursable basis for programs in developing countries to increase the availability of credit, savings, and other services to microfinance and microenterprise clients lacking full access to capital, training, technical assistance, and business development services, through
(1) assistance for the purpose of expanding the availability of credit, savings, and other financial and non-financial services to microfinance and microenterprise clients;
(2) assistance for the purpose of training, technical assistance, and business development services for microenterprises to enable them to make better use of credit, to better manage their enterprises, to conduct market analysis and product development for expanding domestic and international sales, particularly to United States markets, and to increase their income and build their assets;
(3) capacity-building for microfinance and microenterprise institutions in order to enable them to better meet the credit, savings, and training needs of microfinance and microenterprise clients; and
(4) policy, regulatory programs, and research at the country level that improve the environment for microfinance and microenterprise clients and institutions that serve the poor and very poor.
(b) Implementation 

(1) Office of microenterprise development 
There is established within the Agency an office of microenterprise development, which shall be headed by a Director who shall be appointed by the Administrator and who should possess technical expertise and ability to offer leadership in the field of microenterprise development.
(2) Additional provisions 

(A) Use of implementing partner organizations 
Assistance under this section shall emphasize the use of implementing partner organizations that best meet the requirements of subparagraph (C).
(B) Use of central funding mechanisms 

(i) Program In order to ensure that assistance under this subpart is distributed effectively and efficiently, the office shall also seek to implement a program of central funding under which assistance is administered directly by the office, including through targeted core support for microfinance and microenterprise networks and other practitioners.
(ii) Funding Of the amount made available to carry out this division for a fiscal year, not less than $25,000,000 should be made available to carry out clause (i).
(C) Efficiency and cost-effectiveness 
Assistance under this section shall meet high standards of efficiency, cost-effectiveness, and sustainability and shall especially provide the greatest possible resources to the poor and very poor. When administering assistance under this section, the Administrator shall
(i) take into consideration the percentage of funds a provider of assistance intends to expend on administrative costs;
(ii) take all appropriate steps to ensure that the provider of assistance keeps administrative costs as low as practicable to ensure the maximum amount of funds are used for directly assisting microfinance and microenterprise clients, for establishing sustainable microfinance and microenterprise institutions, or for advancing the microenterprise development field; and
(iii) give preference to proposals from providers of assistance that are the most technically competitive and have a reasonable allocation to overhead and administrative costs.
(3) Approval of strategic plans 
With respect to assistance provided under this section, the office shall be responsible for concurring in the microenterprise development components of strategic plans of missions, bureaus, and other offices of the Agency and providing technical support to field missions to help the missions prepare such components.
(c) Targeted assistance 
In carrying out sustainable poverty-focused programs under subsection (a) of this section, 50 percent of all microenterprise resources shall be targeted to clients who are very poor. Specifically, until September 30, 2006, such resources shall be used for
(1) support of programs under this section through practitioner institutions that
(A) provide credit and other financial services to clients who are very poor, with loans in 1995 United States dollars of
(i) $1,000 or less in the Europe and Eurasia region;
(ii) $400 or less in the Latin America region; and
(iii) $300 or less in the rest of the world; and
(B) can cover their costs in a reasonable time period; or
(2) demand-driven business development programs that achieve reasonable cost recovery that are provided to clients holding poverty loans (as defined by the regional poverty loan limitations in paragraph (1)(A)), whether they are provided by microfinance institutions or by specialized business development services providers.

22 USC 2211b - Monitoring system

(a) In general 
In order to maximize the sustainable development impact of assistance authorized under section 2211a (a) of this title, the Administrator of the Agency, acting through the Director of the office, shall strengthen its monitoring system to meet the requirements of subsection (b) of this section.
(b) Requirements 
The requirements referred to in subsection (a) of this section are the following:
(1) The monitoring system shall include performance goals for the assistance and expresses such goals in an objective and quantifiable form, to the extent feasible.
(2) The monitoring system shall include performance indicators to be used in measuring or assessing the achievement of the performance goals described in paragraph (1) and the objectives of the assistance authorized under section 2211a of this title.
(3) The monitoring system provides a basis for recommendations for adjustments to the assistance to enhance the sustainability and the impact of the assistance, particularly the impact of such assistance on the very poor, particularly poor women.
(4) The monitoring system adopts the widespread use of proven and effective poverty assessment tools to successfully identify the very poor and ensure that they receive adequate access to microenterprise loans, savings, and assistance.

22 USC 2211c - Development and certification of poverty measurement methods; application of methods

(a) Development and certification 

(1) In general 
The Administrator of the Agency, in consultation with microenterprise institutions and other appropriate organizations, shall develop no fewer than two low-cost methods for implementing partner organizations to use to assess the poverty levels of their current incoming or prospective clients. The Administrator shall develop poverty indicators that correlate with the circumstances of the very poor.
(2) Field testing 
The Administrator shall field-test the methods developed under paragraph (1). As part of the testing, institutions and programs may use the methods on a voluntary basis to demonstrate their ability to reach the very poor.
(3) Certification 
Not later than April 1, 2005, the Administrator shall, from among the low-cost poverty measurement methods developed under paragraph (1), certify no fewer than two such methods as approved methods for measuring the poverty levels of current, incoming, or prospective clients of microenterprise institutions for purposes of assistance under section 2211a of this title.
(b) Application 
The Administrator shall require that, with reasonable exceptions, all implementing partner organizations applying for microenterprise assistance under this subpart use one of the certified methods, beginning not later than October 1, 2006, to determine and report the poverty levels of current, incoming, or prospective clients.

22 USC 2211d - Additional authorities

Notwithstanding any other provision of law, amounts made available for assistance for microenterprise development assistance under any provision of law other than this subpart may be provided to further the purposes of this subpart. To the extent assistance described in the preceding sentence is provided in accordance with such sentence, the Administrator of the Agency shall include, as part of the report required under section 2214 of this title, a detailed description of such assistance and, to the extent applicable, the information required by paragraphs (1) through (11) of subsection (b) of such section with respect to such assistance.

Division B - Credit Assistance

22 USC 2212 - Microenterprise development credits

(a) Findings and policy 
Congress finds and declares that
(1) the development of micro- and small enterprises is a vital factor in the stable growth of developing countries and in the development and stability of a free, open, and equitable international economic system; and
(2) it is, therefore, in the best interests of the United States to assist the access to financial services and the development of microenterprises in developing countries and to engage the United States private sector in that process.
(b) Program 
To carry out the policy set forth in subsection (a) of this section, the President is authorized to provide assistance to increase the availability of financial services to microenterprise households lacking full access to credit, including through
(1) loans and guarantees to microfinance institutions for the purpose of expanding the availability of savings and credit to poor and low-income households;
(2) training programs for microfinance institutions in order to enable them to better meet the financial services needs of their clients; and
(3) training programs for clients in order to enable them to make better use of credit, increase their financial literacy, and to better manage their enterprises to improve their quality of life.
(c) Eligibility criteria 
The Administrator of the Agency shall establish criteria for determining which microfinance institutions described in subsection (b)(1) of this section are eligible to carry out activities, with respect to microenterprise households, assisted under this section. Such criteria may include the following:
(1) The extent to which the recipients of financial services from the entity do not have access to the local formal financial sector.
(2) The extent to which the recipients of financial services from the entity are among the poorest people in the country.
(3) The extent to which the entity is oriented toward working directly with poor women.
(4) The extent to which the entity recovers its cost of lending.
(5) The extent to which the entity implements a plan to become financially sustainable.
(d) Additional requirement 
Assistance provided under this section may only be used to support programs for microenterprise households and may not be used to support programs not directly related to the purposes described in subsection (b) of this section.
(e) Procurement provision 
Assistance may be provided under this section without regard to section 2354 (a) of this title.
(f) Availability of funds 

(1) In general 
Of the amounts authorized to be available to carry out subchapter I of this chapter, there are authorized to be available such sums as may be necessary for each of the fiscal years 2005 through 2009 to carry out this section.
(2) Coverage of subsidy costs 
Amounts authorized to be available under paragraph (1) shall be made available to cover the subsidy cost, as defined in section 661a (5) of title 2, for activities under this section.

Division C - United States Microfinance Loan Facility

22 USC 2213 - United States Microfinance Loan Facility

(a) Establishment 
The Administrator is authorized to establish a United States Microfinance Loan Facility (in this section referred to as the Facility) to pool and manage the risk from natural disasters, war or civil conflict, national financial crisis, or short-term financial movements that threaten the long-term development of United States-supported microfinance institutions.
(b) Disbursements 

(1) In general 
The Administrator shall make disbursements from the Facility to United States-supported microfinance institutions to prevent the bankruptcy of such institutions caused by
(A) natural disasters;
(B) national wars or civil conflict; or
(C) national financial crisis or other short-term financial movements that threaten the long-term development of United States-supported microfinance institutions.
(2) Form of assistance 
Assistance under this section shall be in the form of loans or loan guarantees for microfinance institutions that demonstrate the capacity to resume self-sustained operations within a reasonable time period.
(3) Congressional notification procedures 
During each of the fiscal years 2005 through 2009, funds may not be made available from the Facility until 15 days after notification of the proposed availability of the funds has been provided to the congressional committees specified in section 2394–1 of this title in accordance with the procedures applicable to reprogramming notifications under that section.
(c) General provisions 

(1) Policy provisions 
In providing the credit assistance authorized by this section, the Administrator should apply, as appropriate, the policy provisions in subchapter I of this chapter that are applicable to development assistance activities.
(2) Default and procurement provisions 

(A) Default provision 
The provisions of section 2370 (q) of this title, or any comparable provision of law, shall not be construed to prohibit assistance to a country in the event that a private sector recipient of assistance furnished under this section is in default in its payment to the United States for the period specified in such section.
(B) Procurement provision 
Assistance may be provided under this section without regard to section 2354 (a) of this title.
(3) Terms and conditions of credit assistance 

(A) In general 
Credit assistance provided under this section shall be offered on such terms and conditions, including fees charged, as the Administrator may determine.
(B) Limitation on principal amount of financing 
The principal amount of loans made or guaranteed under this section in any fiscal year, with respect to any single event, may not exceed $30,000,000.
(C) Exception 
No payment may be made under any guarantee issued under this section for any loss arising out of fraud or misrepresentation for which the party seeking payment is responsible.
(4) Full faith and credit 
All guarantees issued under this section shall constitute obligations, in accordance with the terms of such guarantees, of the United States of America, and the full faith and credit of the United States of America is hereby pledged for the full payment and performance of such obligations to the extent of the guarantee.
(d) Funding 

(1) Allocation of funds 
Of the amounts made available to carry out subchapter I of this chapter for each of the fiscal years 2005 through 2009, such sums as may be necessary may be made available for
(A) the subsidy cost, as defined in section 661a (5) of title 2, to carry out this section; and
(B) the administrative costs to carry out this section.
(2) Relation to other funding 
Amounts made available under paragraph (1) are in addition to amounts available under any other provision of law to carry out this section.

Division D - Miscellaneous Provisions

22 USC 2214 - Report

(a) In general 
Not later than June 30, 2006, and each June 30 thereafter, the Administrator of the Agency, acting through the Director of the office, shall submit to the appropriate congressional committees a report that contains a detailed description of the implementation of this subpart for the previous fiscal year.
(b) Contents 
The report shall contain the following:
(1) The number of grants, cooperative agreements, contracts, contributions, or other form of assistance provided under section 2211a of this title, with a listing of
(A) the amount of each grant, cooperative agreement, contract, contribution, or other form of assistance;
(B) the name of each recipient and each developing country with respect to which projects or activities under the grant, cooperative agreement, contract, contribution, or other form of assistance were carried out; and
(C) a listing of the number of countries receiving assistance authorized by section 2211a of this title.
(2) The results of the monitoring system required under section 2211b of this title.
(3) The process of developing and applying poverty assessment procedures required under section 2211c of this title.
(4) The percentage of assistance furnished under section 2211a of this title that was allocated to the very poor based on the data collected using the certified methods required by section 2211c of this title.
(5) The estimated number of the very poor reached with assistance provided under section 2211a of this title.
(6) The amount of assistance provided under section 2211a of this title through central mechanisms.
(7) The name of each country that receives assistance under section 2212 of this title and the amount of such assistance.
(8) Information on the efforts of the Agency to ensure that recipients of United States microenterprise and microfinance development assistance work closely with nongovernmental organizations and foreign governments to identify and assist victims or potential victims of severe forms of trafficking in persons and women who are victims of or susceptible to other forms of exploitation and violence.
(9) Any additional information relating to the provision of assistance authorized by this subpart, including the use of the poverty measurement tools required by section 2211c of this title, or additional information on assistance provided by the United States to support microenterprise development under this subpart or any other provision of law.
(10) An estimate of the percentage of beneficiaries of assistance under this subpart in countries where a strong relationship between poverty and race or ethnicity has been demonstrated.
(11) The level of funding provided through contracts, the level of funding provided through grants, contracts, and cooperative agreements that is estimated to be subgranted or subcontracted, as the case may be, to direct service providers, and an analysis of the comparative cost-effectiveness and sustainability of projects carried out under these mechanisms.
(c) Availability to public 
The report required by this section shall be made available to the public on the Internet website of the Agency.

22 USC 2214a - Definitions

In this subpart:
(1) Administrator 
The term Administrator means the Administrator of the Agency.
(2) Agency 
The term Agency means the United States Agency for International Development.
(3) Appropriate congressional committees 
The term appropriate congressional committees means the Committee on International Relations of the House of Representatives and the Committee on Foreign Relations of the Senate.
(4) Business development services 
The term business development services means support for the growth of microenterprises through training, technical assistance, marketing assistance, improved production technologies, and other related services.
(5) Director 
The term Director means the Director of the office.
(6) Implementing partner organization 
The term implementing partner organization means an entity eligible to receive assistance under this subpart which is
(A) a United States or an indigenous private voluntary organization;
(B) a United States or an indigenous credit union;
(C) a United States or an indigenous cooperative organization;
(D) an indigenous governmental or nongovernmental organization;
(E) a microenterprise institution;
(F) a microfinance institution; or
(G) a practitioner institution.
(7) Microenterprise institution 
The term microenterprise institution means a not-for-profit entity that provides services, including microfinance, training, or business development services, for microenterprise clients in foreign countries.
(8) Microfinance institution 
The term microfinance institution means a not-for-profit entity or a regulated financial intermediary that directly provides, or works to expand, the availability of credit, savings, and other financial services to microfinance and microenterprise clients in foreign countries.
(9) Microfinance network 
The term microfinance network means an affiliated group of practitioner institutions that provides services to its members, including financing, technical assistance, and accreditation, for the purpose of promoting the financial sustainability and societal impact of microenterprise assistance.
(10) Office 
The term office means the office of microenterprise development established under section 2211a (b)(1) of this title.
(11) Practitioner institution 
The term practitioner institution means a not-for-profit entity or a regulated financial intermediary, including a microfinance network, that provides services, including microfinance, training, or business development services, for microfinance and microenterprise clients, or provides assistance to microenterprise institutions in foreign countries.
(12) Private voluntary organization 
The term private voluntary organization means a not-for-profit entity that
(A) engages in and supports activities of an economic or social development or humanitarian nature for citizens in foreign countries; and
(B) is incorporated as such under the laws of the United States, including any of its states, territories or the District of Columbia, or of a foreign country.
(13) United States-supported microfinance institution 
The term United States-supported microfinance institution means a financial intermediary that has received funds made available under subchapter I of this chapter for fiscal year 1980 or any subsequent fiscal year.
(14) Very poor 
The term very poor means those individuals
(A) living in the bottom 50 percent below the poverty line established by the national government of the country in which those individuals live; or
(B) living on less than the equivalent of $1 per day (as calculated using the purchasing power parity (PPP) exchange rate method).

subpart vii - evaluation of programs

22 USC 2216 - Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section, Pub. L. 87–195, pt. I, 261, as added Pub. L. 88–205, pt. I, 107, Dec. 16, 1963, 77 Stat. 383, related to appointment of a committee to review and evaluate economic development program for less developed countries.

subpart viii - southeast asia multilateral and regional programs

2217, 2217a. Repealed. Pub. L. 95424, title I, 102(g)(1)(A), Oct. 6, 1978, 92 Stat. 942

Section 2217, Pub. L. 87–195, pt. I, 271, as added Pub. L. 89–583, pt. I, 106, Sept. 19, 1966, 80 Stat. 799, set forth sense of Congress that acceleration of social and economic progress would be served by an expanded effort by countries of southeast Asia and other interested countries in cooperative programs. Section 2217a, Pub. L. 87–195, pt. I, 272, as added Pub. L. 89–583, pt. I, 106, Sept. 19, 1966, 80 Stat. 800, related to a number of criteria to be taken into account in providing assistance under the Southeast Asia Multilateral and Regional Programs.

22 USC 2217b - Repealed. Pub. L. 90137, pt. I, 107, Nov. 14, 1967, 81 Stat. 452

Section, Pub. L. 87–195, pt. I, 273, as added Pub. L. 89–583, pt. I, 106, Sept. 19, 1966, 80 Stat. 800, prescribed a $10,000,000 limitation on use of funds for promotion of social and economic development and stability in southeast Asia.

subpart ix - utilization of democratic institutions in development

22 USC 2218 - Utilization of democratic institutions in development

(a) Popular participation through encouragement of democratic institutions 
In carrying out programs authorized in this part and part I of this subchapter, emphasis shall be placed on assuring maximum participation in the task of economic development on the part of the people of the developing countries, through the encouragement of democratic private and local governmental institutions.
(b) Human and intellectual resources; self-government through civic education and training in requisite skills 
In order to carry out the purposes of this section programs under this part and part I of this subchapter shall
(1) recognize the differing needs, desires, and capacities of the people of the respective developing countries and areas;
(2) use the intellectual resources of such countries and areas in conjunction with assistance provided under this chapter so as to encourage the development of indigenous institutions that meet their particular requirements for sustained economic and social progress; and
(3) support civic education and training in skills required for effective participation in governmental and political processes essential to self-government.
(c) Political, social, and related obstacles to development; democratic social and political trends 
In the allocation of funds for research under this part and part I of this subchapter, emphasis shall be given to research designed to examine the political, social, and related obstacles to development in countries receiving assistance under subchapter I of this chapter. In particular, emphasis should be given to research designed to increase understanding of the ways in which development assistance can support democratic social and political trends in recipient countries.
(d) Implementation of objectives through application of experience gained from program evaluation 
Emphasis shall also be given to the evaluation of relevant past and current programs under subchapter I of this chapter and to applying this experience so as to strengthen their effectiveness in implementing the objectives of this section.
(e) Inservice training programs 
In order to carry out the purposes of this section, the agency primarily responsible for administering subchapter I of this chapter shall develop systematic programs of inservice training to familiarize its personnel with the objectives of this section and to increase their knowledge of the political and social aspects of development. In addition to other funds available for such purposes, not to exceed 1 per centum of the funds authorized to be appropriated for grant assistance under this part and part I of this subchapter may be used for carrying out the objectives of this subsection.

subpart x - programs relating to population growth and family planning

2219, 2219a. Repealed. Pub. L. 95424, title I, 104(b), Oct. 6, 1978, 92 Stat. 947

Section 2219, Pub. L. 87–195, pt. I, 291, as added Pub. L. 90–137, pt. I, 109, Nov. 14, 1967, 81 Stat. 452, set forth a general statement of policy concerning population growth and family planning. Section 2219a, Pub. L. 87–195, pt. I, 292, as added Pub. L. 90–137, pt. I, 109, Nov. 14, 1967, 81 Stat. 453; amended Pub. L. 90–554, pt. I, 107, Oct. 8, 1968, 82 Stat. 962; Pub. L. 91–175, pt. I, 107, Dec. 30, 1969, 83 Stat. 818; Pub. L. 92–226, pt. I, 106, Feb. 7, 1972, 86 Stat. 23; Pub. L. 93–189, § 8, Dec. 17, 1973, 87 Stat. 718; Pub. L. 93–559, § 4(2), Dec. 30, 1974, 88 Stat. 1795, related to the availability of funds on a loan or grant basis to carry out the purposes of this subpart.

subpart xi - food production targets and reports

22 USC 2220 - Repealed. Pub. L. 95424, title V, 502(d)(1), Oct. 6, 1978, 92 Stat. 959

Section, Pub. L. 87–195, pt. I, 295, as added Pub. L. 90–137, pt. I, 109, Nov. 14, 1967, 81 Stat. 453, related to reports and recommendations to Congress by the President for each country receiving assistance under this chapter which the President finds has a substantial food deficit.

subpart xii - famine prevention and freedom from hunger

22 USC 2220a - General provisions

(a) Congressional objectives and findings 
The Congress declares that, in order to achieve the mutual goals among nations of ensuring food security, human health, agricultural growth, trade expansion, and the wise and sustainable use of natural resources, the United States should mobilize the capacities of the United States land-grant universities, other eligible universities, and public and private partners of universities in the United States and other countries, consistent with sections 2151a and 2151a–1 of this title, for:
(1)  global research on problems affecting food, agriculture, forestry, and fisheries;
(2)  improved human capacity and institutional resource development for the global application of agricultural and related environmental sciences;
(3)  agricultural development and trade research and extension services in the United States and other countries to support the entry of rural industries into world markets; and
(4)  providing for the application of agricultural sciences to solving food, health, nutrition, rural income, and environmental problems, especially such problems in low-income, food deficit countries.

The Congress so declares because it finds

(A) that the establishment, endowment, and continuing support of land-grant universities in the United States by Federal, State, and county governments has led to agricultural progress with and through the private sector in this country and to understanding processes of economic development;
(B) that land-grant and other universities in the United States have demonstrated over many years their ability to cooperate with international agencies, educational and research institutions in other countries, the private sector, and nongovernmental organizations worldwide, in expanding global agricultural production, processing, business and trade, to the benefit of aid recipient countries and of the United States;
(C) that, in a world of growing populations with rising expectations, increased food production and improved distribution, storage, and marketing in the developing countries is necessary not only to prevent hunger and ensure human health and child survival, but to build the basis for economic growth and trade, and the social security in which democracy and a market economy can thrive, and moreover, that the greatest potential for increasing world food supplies and incomes to purchase food is in the developing countries where the gap between food need and food supply is the greatest and current incomes are lowest;
(D) that increasing and making more secure the supply of food is of greatest benefit to the poorest majority in the developing world;
(E) that, with expanding global markets and increasing imports into many countries, including the United States, food safety and quality, as well as secure supply, have emerged as mutual concerns of all countries;
(F) that research, teaching, and extension activities, and appropriate institutional and policy development therefore are prime factors in improving agricultural production, food distribution, processing, storage, and marketing abroad (as well as in the United States);
(G) moreover, that agricultural research abroad has in the past and will continue in the future to provide benefits for agriculture and the broader economy of the United States and that increasing the availability of food of higher nutritional quality is of benefit to all;
(H) that there is a need to responsibly manage the worlds agricultural and natural resources for sustained productivity, health and resilience to climate variability; and
(I) that universities and public and private partners of universities need a dependable source of funding in order to increase the impact of their own investments and those of their State governments and constituencies, in order to continue and expand their efforts to advance agricultural development in cooperating countries, to translate development into economic growth and trade for the United States and cooperating countries, and to prepare future teachers, researchers, extension specialists, entrepreneurs, managers, and decisionmakers for the world economy.
(b) Congressional declaration for collation of components to increase world food production 
Accordingly, the Congress declares that, in order to prevent famine and establish freedom from hunger, the following components must be brought together in a coordinated program to increase world food and fiber production, agricultural trade, and responsible management of natural resources, including
(1) continued efforts by the international agricultural research centers and other international research entities to provide a global network, including United States universities, for international scientific collaboration on crops, livestock, forests, fisheries, farming resources, and food systems of worldwide importance;
(2) contract research and the implementation of collaborative research support programs and other research collaboration led by United States universities, and involving research systems in other countries focused on crops, livestock, forests, fisheries, farming resources, and food systems, with benefits to the United States and partner countries;
(3) broadly disseminating the benefits of global agricultural research and development including increased benefits for United States agriculturally related industries through establishment of development and trade information and service centers, for rural as well as urban communities, through extension, cooperatively with, and supportive of, existing public and private trade and development related organizations;
(4) facilitation of participation by universities and public and private partners of universities in programs of multilateral banks and agencies which receive United States funds;
(5) expanding learning opportunities about global agriculture for students, teachers, community leaders, entrepreneurs, and the general public through international internships and exchanges, graduate assistantships, faculty positions, and other means of education and extension through long-term recurring Federal funds matched by State funds; and
(6) competitive grants through universities to United States agriculturalists and public and private partners of universities from other countries for research, institution and policy development, extension, training, and other programs for global agricultural development, trade, and responsible management of natural resources.
(c) University involvement, participation, and cooperation 
The United States should
(1) effectively involve the United States land-grant and other eligible universities more extensively in each of the program components described in paragraphs (1) through (6) of subsection (b) of this section;
(2) provide mechanisms for the universities and public and private partners of universities to participate and advise in the planning, development, implementation, and administration of each component;
(3) assist such universities and public and private partners of universities in cooperative joint efforts with
(A) agricultural institutions in developing nations;
(B) regional and international agricultural research centers;
(C) multilateral banks and agencies receiving United States funds;
(D) development agencies of other countries; and
(E) United States Government foreign assistance and economic cooperation programs;
(4) generally engage the United States university community more extensively in the agricultural research, trade, and development initiatives undertaken outside the United States, with the objectives of strengthening its capacity to carry out research, teaching, and extension activities for solving problems in food production, processing, marketing, and consumption in agriculturally developing nations, and for transforming progress in global agricultural research and development into economic growth, trade, and trade benefits for aid recipient countries and United States communities and industries, and for the wise use of natural resources; and
(5) ensure that all federally funded support to universities and public and private partners of universities relating to the goals of this subpart is periodically reviewed for its performance.
(d) Universities 
As used in this subpart, the term universities means those colleges or universities in each State, territory, or possession of the United States, or the District of Columbia, now receiving, or which may hereafter receive, benefits under the Act of July 2, 1862 (known as the First Morrill Act) [7 U.S.C. 301 et seq.], or the Act of August 30, 1890 (known as the Second Morrill Act) [7 U.S.C. 321 et seq.], which are commonly known as land-grant universities; institutions now designated or which may hereafter be designated as sea-grant colleges under the Act of October 15, 1966 (known as the National Sea Grant College and Program Act) [33 U.S.C. 1121 et seq.], which are commonly known as sea-grant colleges; Native American land-grant colleges as authorized under the Equity in Educational Land-Grant Status Act of 1994 (7 U.S.C. 301 note ); and other United States colleges and universities which
(1) have demonstrable capacity in teaching, research, and extension (including outreach) activities in the agricultural sciences; and
(2) can contribute effectively to the attainment of the objectives of this subpart.
(e) Administrator 
As used in this subpart, the term Administrator means the Administrator of the United States Agency for International Development.
(f) Public and private partners of universities 
As used in this subpart, the term public and private partners of universities includes entities that have cooperative or contractual agreements with universities, which may include formal or informal associations of universities, other education institutions, United States Government and State agencies, private voluntary organizations, nongovernmental organizations, firms operated for profit, nonprofit">nonprofit organizations, multinational banks, and, as designated by the Administrator, any organization, institution, or agency incorporated in other countries.
(g) Agriculture 
As used in this subpart, the term agriculture includes the science and practice of activity related to food, feed, and fiber production, processing, marketing, distribution, utilization, and trade, and also includes family and consumer sciences, nutrition, food science and engineering, agricultural economics and other social sciences, forestry, wildlife, fisheries, aquaculture, floraculture, veterinary medicine, and other environmental and natural resources sciences.
(h) Agriculturists 
As used in this subpart, the term agriculturists includes farmers, herders, and livestock producers, individuals who fish and others employed in cultivating and harvesting food resources from salt and fresh waters, individuals who cultivate trees and shrubs and harvest nontimber forest products, as well as the processors, managers, teachers, extension specialists, researchers, policymakers, and others who are engaged in the food, feed, and fiber system and its relationships to natural resources.

22 USC 2220b - General authority

(a) Programs and activities affecting universities, agriculturally developing countries, and research 
To carry out the purposes of this subpart, the President is authorized to provide assistance on such terms and conditions as he shall determine
(1) to implement program components through United States universities as authorized by paragraphs (2) through (5) of this subsection;
(2) to build and strengthen the institutional capacity and human resource skills of agriculturally developing countries so that these countries may participate more fully in the international agricultural problem-solving effort and to introduce and adapt new solutions to local circumstances;
(3) to provide long-term program support for United States university global agricultural and related environmental collaborative research and learning opportunities for students, teachers, extension specialists, researchers, and the general public;
(4) to involve United States universities more fully in the international network of agricultural science, including the international agricultural research centers, the activities of international organizations such as the United Nations Development Program and the Food and Agriculture Organization, multilateral banks, the institutions of agriculturally developing nations, and United States and foreign nongovernmental organizations supporting extension and other productivity-enhancing programs; and
(5) to provide program support for international agricultural research centers, to provide support for research projects identified for specific problem-solving needs, and to develop and strengthen national research systems in the developing countries.
(b) Programs and activities respecting university capabilities, benefiting domestic and nondomestic agriculture, and based on existing programs and institutions 
Programs under this subpart shall be carried out so as to
(1) utilize and strengthen the capabilities of United States universities with public and private partners of universities in
(A) developing capacity in the cooperating nation for classroom teaching in agriculture, plant and animal sciences, human nutrition, and vocational and domestic arts and other relevant fields appropriate to local needs;
(B) agricultural research to be conducted in the cooperating nations, at international agricultural research centers, or in the United States;
(C) the planning, initiation, and development of extension services through which information concerning agriculture, environment, and related subjects will be made available directly to agriculturalists in the agriculturally developing nations by means of education and demonstration; or
(D) the exchange of educators, scientists, and students for the purpose of assisting in successful development in the cooperating nations;
(2) take into account the value to United States agriculture of such programs, integrating to the extent practicable the programs and financing authorized under this subpart with those supported by other Federal or State resources, including resources of the private sector, so as to maximize the contribution to the development of agriculture in the United States and in agriculturally developing nations; and
(3) whenever practicable, build on existing programs and institutions including those of the universities, the Department of Agriculture, State agricultural agencies, the Department of Commerce, the Department of the Interior, the Environmental Protection Agency, the Office of the United States Trade Representative, the Food and Drug Administration, other appropriate Federal agencies, and appropriate nongovernmental and business organizations.
(c) Activity objectives 
To the maximum extent practicable, activities under this section shall
(1) be directly related to the food and agricultural needs of developing countries;
(2) focus primarily on the needs of agricultural producers, rural families, processors, traders, consumers, and natural resources managers;
(3) be adapted to local circumstances;
(4) be carried out within the developing countries and transition countries comprising newly emerging democracies and newly liberalized economies; and
(5) emphasize the improvement of local systems for delivering the best available knowledge to the small farmers of such countries.
(d) Function of Administrator 
The President shall exercise his authority under this section through the Administrator.
(e) Special programs 
The Administrator shall establish and carry out special programs under this subpart as part of ongoing programs for child survival, democratization, development of free enterprise, environmental and natural resource management, and other related programs.

22 USC 2220c - Board for International Food and Agricultural Development

(a) Establishment; terms and expenses of members 
To assist in the administration of the programs authorized by this subpart, the President shall establish a permanent Board for International Food and Agricultural Development (hereafter in this subpart referred to as the Board) consisting of seven members, not less than four to be selected from the universities. Terms of members shall be set by the President at the time of appointment. Members of the Board shall be entitled to such reimbursement for expenses incurred in the performance of their duties (including per diem in lieu of subsistence while away from their homes or regular place of business) as the President deems appropriate on a case-by-case basis.
(b) General areas of responsibility 
The Boards general areas of responsibility shall include participating in the planning, development, and implementation of, initiating recommendations for, and monitoring, the activities described in section 2220b of this title.
(c) Specific, but not exclusive, duties 
The Boards duties shall include, but not necessarily be limited to
(1) participating in the formulation of basic policy, procedures, and criteria for project proposal review, selection, and monitoring;
(2) developing and keeping current a roster of universities
(A) interested in exploring their potential for collaborative relationships with agricultural institutions, and with scientists working on significant programs designed to improve agricultural production, trade, and natural resource management in developing countries, and with private organizations seeking to increase agricultural production and trade, natural resources management, and household food security in developing and transition countries;[1]
(B) having capacity in the agricultural, environmental, and related social sciences,
(C) able to maintain an appropriate balance of teaching, research, and extension functions,
(D) having capacity, experience, and commitment with respect to international agricultural efforts, and
(E) able to contribute to solving the problems addressed by this subpart;
(3) recommending which developing nations could benefit from programs carried out under this subpart, and identifying those nations which have an interest in establishing or developing agricultural institutions which engage in teaching, research, or extension activities;
(4) reviewing and evaluating memorandums of understanding or other documents that detail the terms and conditions between the Administrator and universities and their partners participating in programs under this subpart;
(5) reviewing and evaluating agreements and activities authorized by this subpart and undertaken by universities and public and private partners of universities to assure compliance with the purposes of this subpart;
(6) recommending to the Administrator the apportionment of funds under section 2220b of this title;
(7) assessing the impact of programs carried out under this subpart in solving agricultural problems and natural resource issues in the developing nations, assuring efficiency in use of Federal resources, including in accordance with the Governmental Performance and Results Act of 1993 (Public Law 10362; 107 Stat. 285), and the amendments made by that Act;
(8) developing information exchanges and consulting regularly with nongovernmental organizations, consumer groups, producers, agribusinesses and associations, agricultural cooperatives and commodity groups, State departments of agriculture, State agricultural research and extension agencies, and academic institutions;
(9) investigating and resolving issues concerning implementation of this subpart as requested by universities; and
(10) advising the Administrator on any and all issues as requested.
(d) Subordinate units; creation of Joint Policy Committee, Joint Operations Committee, and other units 
The President may authorize the Board to create such subordinate units as may be necessary for the performance of its duties, including but not limited to the following:
(1) a Joint Policy Committee to participate in the design and development of the collaborative activities described in section 2220b of this title; and
(2) a Joint Operations Committee which shall assist in and advise on the mechanisms and processes for implementation of activities described in section 2220b of this title.
(e) Consultations in preparation of annual report and on agricultural development activities 
In addition to any other functions assigned to and agreed to by the Board, the Board shall be consulted in the preparation of the annual report required by section 2220e of this title and on other agricultural development activities related to programs under this subpart.
[1] So in original. The semicolon probably should be a comma.

22 USC 2220d - Funds for programs and activities

(a) Funds available under section 2151a of this title unaffected by other provisions 
The President is authorized to use any of the funds hereafter made available under section 2151a of this title to carry out the purposes of this subpart. Funds made available for such purposes may be used without regard to the provisions of sections 2151h (b) and 2151t (d) of this title.
(b) Foreign currencies 
Foreign currencies owned by the United States and determined by the Secretary of the Treasury to be excess to the needs of the United States shall be used to the maximum extent possible in lieu of dollars in carrying out the provisions of this subpart.
(c) Other authorizations 
Assistance authorized under this subpart shall be in addition to any allotments or grants that may be made under other authorizations.
(d) Disclosure of funds to Administrator; annual report 
Universities may accept and expend funds from other sources, public and private, in order to carry out the purposes of this subpart. All such funds, both prospective and inhand, shall be periodically disclosed to the Administrator as he shall by regulation require, but no less often than in an annual report.

22 USC 2220e - Presidential report to Congress

The President shall transmit to the Congress, not later than September 1 of each year, a report detailing the activities carried out pursuant to this subpart during the preceding fiscal year and containing a projection of programs and activities to be conducted during the subsequent five fiscal years. Each report shall contain a summary of the activities of the Board established pursuant to section 2220c of this title and may include the separate views of the Board with respect to any aspect of the programs conducted or proposed to be conducted under this subpart.