22 U.S.C. § 2182a — Agricultural and productive credit and

Page 669 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2182a 2 So in original. No subsecs. (d) to (j) have been enacted. voltaic and wind applications, and community- scale solar thermal applications. (k) 2 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 limita- tions on the issuance of guaranties under this section which are contained in subsection (a) and in appropriation Acts. (Pub. L. 87–195, pt. I, § 222, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 807; amended Pub. L. 94–161, title III, § 311(4), Dec. 20, 1975, 89 Stat. 861; Pub. L. 95–88, title I, § 117(a)(2), Aug. 3, 1977, 91 Stat. 540; Pub. L. 95–424, title I, § 115(a), Oct. 6, 1978, 92 Stat. 950; Pub. L. 96–53, title I, § 112(a), Aug. 14, 1979, 93 Stat. 363; Pub. L. 97–113, title III, § 310(a), Dec. 29, 1981, 95 Stat. 1535; Pub. L. 98–473, title I, § 101(1) [title V, § 541(a)], Oct. 12, 1984, 98 Stat. 1884, 1903; Pub. L. 99–83, title III, § 313(a)–(c), Aug. 8, 1985, 99 Stat. 216, 217; Pub. L. 100–202, § 101(e) [title II, § 201], Dec. 22, 1987, 101 Stat. 1329–131, 1329–142; Pub. L. 101–167, title II, Nov. 21, 1989, 103 Stat. 1205; Pub. L. 101–302, title II, May 25, 1990, 104 Stat. 224; Pub. L. 101–513, title II, Nov. 5, 1990, 104 Stat. 1989.) Editorial Notes REFERENCES IN TEXT Section 2198(c) of this title, referred to in subsec. (a), was repealed by Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513. CODIFICATION Amendment by Pub. L. 98–473 is based on section 311(b) of H.R. 5119, Ninety-eighth Congress, as passed by the House of Representatives May 10, 1984, which was enacted into permanent law by Pub. L. 98–473. PRIOR PROVISIONS A prior section 222 of Pub. L. 87–195, pt. I, Sept. 4, 1961, 75 Stat. 430, as amended by Pub. L. 87–565, pt. I, § 104(b), Aug. 1, 1962, 76 Stat. 257; Pub. L. 88–205, pt. I, § 104(b)–(f), Dec. 16, 1963, 77 Stat. 381, 382; Pub. L. 89–171, pt. I, § 104(c), Sept. 6, 1965, 79 Stat. 654; Pub. L. 89–583, pt. I, § 104(b), Sept. 19, 1966, 80 Stat. 798; Pub. L. 90–137, pt. I, § 104(b), Nov. 14, 1967, 81 Stat. 451, contained gen- eral provisions concerning foreign investment guaran- ties, prior to the general reorganization of this subpart by Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 807. AMENDMENTS 1990—Subsec. (a). Pub. L. 101–513 substituted ‘‘1992’’ for ‘‘1991’’. Pub. L. 101–302 substituted ‘‘$2,558,000,000’’ for ‘‘$2,158,000,000’’. 1989—Subsec. (a). Pub. L. 101–167 substituted ‘‘1991’’ for ‘‘1990’’. 1987—Subsec. (a). Pub. L. 100–202 substituted ‘‘1990’’ for ‘‘1988’’. 1985—Subsec. (a). Pub. L. 99–83, § 313(a), (b), sub- stituted ‘‘$2,158,000,000’’ for ‘‘$1,958,000,000’’ and ‘‘1988’’ for ‘‘1986’’. Subsec. (k). Pub. L. 99–83, § 313(c), added subsec. (k). 1984—Subsec. (a). Pub. L. 98–473 substituted ‘‘$1,958,000,000’’ for ‘‘$1,718,000,000’’ and ‘‘1986’’ for ‘‘1984’’. 1981—Subsec. (a). Pub. L. 97–113 increased limitation on total principal amount of outstanding guarantees to $1,718,000,000 from $1,555,000,000 and extended termi- nation date for exercise of guarantee authority to Sept. 30, 1984, from Sept. 30, 1982. 1979—Subsec. (a). Pub. L. 96–53 substituted ‘‘$1,555,000,000’’ for ‘‘$1,180,000,000’’, and ‘‘through Sep- tember 30, 1982’’ for ‘‘until September 30, 1980’’. 1978—Pub. L. 95–424 amended section generally to pro- vide a new consolidated section which provides a single authorization for the worldwide housing guarantee pro- gram, a new list of the types of programs to be empha- sized, increased the worldwide authorization to $1,180,000,000, and encourages officials and governments in developing countries to consider the use of solar en- ergy in housing projects. 1977—Subsec. (c). Pub. L. 95–88 inserted ‘‘or under sec- tion 2181 of this title’’ after ‘‘Latin American housing guaranty authority repealed by the Foreign Assistance Act of 1969’’ and substituted ‘‘$1,030,000,000’’ for ‘‘$600,000,000’’. 1975—Subsec. (c). Pub. L. 94–161 substituted ‘‘$600,000,000’’ for ‘‘$550,000,000’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–83 effective Oct. 1, 1985, see section 1301 of Pub. L. 99–83, set out as a note under sec- tion 2151–1 of this title. EFFECTIVE DATE OF 1979 AMENDMENT Amendment by Pub. L. 96–53 effective Oct. 1, 1979, see section 512(a) of Pub. L. 96–53, set out as a note under section 2151 of this title. EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95–424 effective Oct. 1, 1978, see section 605 of Pub. L. 95–424, set out as a note under section 2151 of this title. Executive Documents DELEGATION OF FUNCTIONS For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. § 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 sec- tion should be used to establish pilot programs to encourage private banks, credit institutions, similar private lending organizations, coopera- tives, and private nonprofit development organi- zations 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 fi- nancial assistance on reasonable terms. Agricul- tural credit and assistance for self-help commu- nity 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, im- proved breeding stock for farm animals, sanita- tion facilities, and looms and other handicraft aids. Page 670 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2182a 1 See References in Text note below. (b) Guaranties; percentage limitation To carry out the purposes of subsection (a), the agency primarily responsible for admin- istering subchapter I of this chapter is author- ized to issue guaranties, on such terms and con- ditions as it shall determine, to private lending institutions, cooperatives, and private 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 de- velopment 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 con- sulted 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 re- serve 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 1 of this title. (f) Administrative and operating expenses; funds Funds held by the Overseas Private Invest- ment Corporation pursuant to section 2196 1 of this title may be available for meeting nec- essary administrative and operating expenses for carrying out the provisions of this section through June 30, 1976. (g) Transfer of Overseas Private Investment Cor- poration’s obligations and assets The Overseas Private Investment Corporation shall, upon enactment of this subsection, trans- fer to the agency primarily responsible for ad- ministering subchapter I of this chapter all obli- gations, assets, and related rights and respon- sibilities arising out of, or related to the prede- cessor program provided for in section 2200 1 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 Sec- retary 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. (Pub. L. 87–195, pt. I, § 222A, as added Pub. L. 93–559, § 8(a)(2), Dec. 30, 1974, 88 Stat. 1796; amended Pub. L. 95–88, title I, § 117(b)(1), Aug. 3, 1977, 91 Stat. 540; Pub. L. 95–424, title I, § 115(b), title V, § 502(d)(1), Oct. 6, 1978, 92 Stat. 951, 959; Pub. L. 96–53, title I, § 112(b), Aug. 14, 1979, 93 Stat. 364; Pub. L. 97–438, Jan. 8, 1983, 96 Stat. 2286; Pub. L. 98–473, title I, § 101(1) [title V, § 541(a)], Oct. 12, 1984, 98 Stat. 1884, 1903; Pub. L. 99–83, title III, § 313(d), Aug. 8, 1985, 99 Stat. 217; Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 586(h)(3)], Nov. 29, 1999, 113 Stat. 1535, 1501A–120.) Editorial Notes REFERENCES IN TEXT Section 2200 of this title, referred to in subsecs. (e) and (g), was in the original a reference to section 240 of this Act, meaning section 240 of Pub. L. 87–195, as added by section 105 of Pub. L. 91–175, which was repealed by section 8(b) of Pub. L. 93–559, and was replaced by this section. Another section 240 of Pub. L. 87–195, as added by section 9 of Pub. L. 95–268, was enacted Apr. 24, 1978, and was classified to section 2200 of this title, prior to repeal by Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513. Section 2196 of this title, referred to in subsec. (f), was repealed by Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513. CODIFICATION Amendment by Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 586(h)(3)], Nov. 29, 1999, 113 Stat. 1535, 1501A–120, directing repeal of subsec. (d) of this section did not become effective pursuant to section 1000(a)(2) [title V, § 586] of div. B of Pub. L. 106–113, formerly set out as an Abolition of the Inter-American Foundation note under section 290f of this title. Amendment by Pub. L. 98–473 is based on section 312 of H.R. 5119, Ninety-eighth Congress, as passed by the House of Representatives May 10, 1984, which was en- acted into permanent law by Pub. L. 98–473. AMENDMENTS 1985—Subsec. (h). Pub. L. 99–83 substituted ‘‘1988’’ for ‘‘1986’’. 1984—Subsec. (a). Pub. L. 98–473 struck out ‘‘in Latin America,’’ after ‘‘economic development of less-devel- oped countries’’ and ‘‘in not more than six Latin Amer- ican countries’’ after ‘‘establish pilot programs’’. Subsec. (b). Pub. L. 98–473 struck out ‘‘in not more than five Latin American countries’’ after ‘‘nonprofit development organizations’’. Subsec. (h). Pub. L. 98–473 substituted ‘‘1986’’ for ‘‘1983’’. 1983—Subsec. (h). Pub. L. 97–438 substituted ‘‘1983’’ for ‘‘1982’’. 1979—Subsec. (a). Pub. L. 96–53, § 112(b)(1), substituted ‘‘six’’ for ‘‘five’’. Subsec. (c). Pub. L. 96–53, § 112(b)(2), substituted ‘‘$20,000,000’’ for ‘‘$15,000,000’’. Subsec. (h). Pub. L. 96–53, § 112(b)(3), substituted ‘‘through September 30, 1982’’ for ‘‘until September 30, 1979’’. 1978—Subsec. (h). Pub. L. 95–424, § 115(b), substituted ‘‘September 30, 1979’’ for ‘‘September 30, 1978’’. Subsec. (j). Pub. L. 95–424, § 502(d)(1), struck out sub- sec. (j) relating to a Presidential report to Congress on the results of the program established under this sec- tion. 1977—Subsec. (h). Pub. L. 95–88 substituted ‘‘Sep- tember 30, 1978’’ for ‘‘December 31, 1977’’. Page 671 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2183 1 See References in Text note below. Statutory Notes and Related Subsidiaries REFERENCES TO SUBCHAPTER I DEEMED TO INCLUDE CERTAIN PARTS OF SUBCHAPTER II References to subchapter I of this chapter are deemed to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See section 202(b) of Pub. L. 92–226, set out as a note under section 2346 of this title, and sections 2348c and 2349aa–5 of this title. EFFECTIVE DATE OF 1985 AMENDMENT Amendment by Pub. L. 99–83 effective Oct. 1, 1985, see section 1301 of Pub. L. 99–83, set out as a note under sec- tion 2151–1 of this title. EFFECTIVE DATE OF 1979 AMENDMENT Amendment by Pub. L. 96–53 effective Oct. 1, 1979, see section 512(a) of Pub. L. 96–53, set out as a note under section 2151 of this title. EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95–424 effective Oct. 1, 1978, see section 605 of Pub. L. 95–424, set out as a note under section 2151 of this title. TRANSFER OF FUNCTIONS For transfer of functions, personnel, assets, and li- abilities of the Overseas Private Investment Corpora- tion and of non-Development Credit Authority guar- anty programs of the United States Agency for Inter- national Development to the United States Inter- national Development Finance Corporation and treat- ment of related references, see sections 9683 and 9686(d) of this title. § 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 exist- ing 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 re- pealed by the Foreign Assistance Act of 1969, to- gether 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 admin- istrative and operating expenses of carrying out the provisions of section 2182 of this title and administering housing guaranties heretofore au- thorized 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 limita- tions 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 here- tofore pursuant to this subpart or prior Latin American and other housing guaranty authori- ties repealed by the Foreign Assistance Act of 1969; and to pay the cost of investigating and ad- justing (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 prop- erty 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 col- lected in connection with guaranties issued under section 2182a of this title shall likewise be available to meet similar expenses, costs, or li- abilities incurred in connection with the pro- grams authorized by that section. All of the foregoing fees referred to in this section to- gether with earnings thereon and other income arising from guaranty operations under this sub- part shall be held in a revolving fund account maintained in the Treasury of the United States. All funds in such account may be in- vested in obligations of the United States. Any interest or other receipts derived from such in- vestments shall be credited to such account and may be used for the purposes cited in this sec- tion. (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) (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). (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 1 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 ac- cordance 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 per- formance of such obligations. (e) Authorization of appropriations; borrowing authority (1) There is hereby authorized to be appro- priated to the President such amounts, to re- main available until expended, as may be nec- essary from time to time to carry out the pur- poses of this subpart. (2)(A) In order to meet obligations incurred for the payment of claims pursuant to loan guaran- ties described in subsection (d), the Adminis- trator of the agency primarily responsible for administering subchapter I of this chapter may,