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7 U.S.C. § 1738p — Consultations with Congress
Federal law — U.S. Code and appendices · legal_authorities
The President shall consult with the appropriate congressional committees on a periodic basis to review the operation of the Facility under this subchapter and the eligibility of countries for benefits from the Facility under this subchapter.
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Source location: Title 7, Chapter 41, § 1738p; chapter-041-food-for-peace.md
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The President shall consult with the appropriate congressional committees on a periodic basis to review the operation of the Facility under this subchapter and the eligibility of countries for benefits from the Facility under this subchapter.
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Federal law — U.S. Code and appendices · legal_authorities
As used in sections 1738o, 1738p, and 1738q of this title, the term “qualified debt” means any obligation, or portion of such obligation, of an eligible country to pay for purchases of United States agricultural commodities guaranteed by the Commodity Credit Corporation under export credit guarantee programs authorized pursuant to [section 714c(f) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section714c/f&num=0&edition=prelim) or section 1707a(b) 11 See References in Text note below. of this title—
(1) in which the Commodity Credit Corporation obtained a legal right or interest, as a result of assignment or subrogation, not later than September 1, 1992; and
(2) the payment of which obligation has been, not later than September 1, 1992, rescheduled in accordance with principles set forth in an Agreed Minute of the Paris Club.
Such term includes the obligation to pay any interest which was due or accrued not later than September 1, 1992, and unpaid as of the date of a debt sale pursuant to section 1738o of this title or a debt sale, reduction, or cancellation pursuant to [section 1738p of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1738p&num=0&edition=prelim) (as the case may be).
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Federal law — U.S. Code and appendices · legal_authorities
Page 1031
TITLE 7—AGRICULTURE
§ 1738p
basis to review the operation of the Facility
under this subchapter and the eligibility of
countries for benefits from the Facility under
this subchapter.
(July 10, 1954, ch. 469, title VI, § 615, as added
Pub. L. 102–237, title III, § 331, Dec. 13, 1991, 105
Stat. 1858.)
§ 1738o. Sale of qualified debt to eligible coun-
tries
(a) In general
(1) Authorization
The President may sell to an eligible coun-
try up to 40 percent of such country’s qualified
debt, only if an amount of the local currency
of such country (other than the price paid for
the debt) equal to—
(A) not less than 40 percent of the price
paid for such debt by such eligible country,
or
(B) the difference between the price paid
for such debt and the face value of such debt;
whichever is less, is used by such country
through an Environmental Fund for eligible
activities described in section 1738k of this
title.
(2) Environmental funds
For purposes of this section, the term ‘‘Envi-
ronmental Fund’’ means an Environmental
Fund established under section 1738g of this
title. In the case of Mexico, such fund may be
designated as the Good Neighbor Environ-
mental Fund for the Border.
(3) Establishment and operation of environ-
mental funds
The President should advise eligible coun-
tries on the procedures required to establish
and operate the Environmental Funds re-
quired to be established under paragraph (1).
(b) Terms and conditions
The President shall establish the terms and
conditions, including the amount to be paid by
the eligible country, under which such country’s
qualified debt may be sold under this section.
(c) Appropriations requirement
The authorities provided by this section may
be exercised only in such amounts and to such
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