22 U.S.C. § 1942 — Development assistance in Latin America;

Page 483 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 1942 1 See References in Text note below. § 1937. Irish counterpart account; approval of disposition Pursuant to section 1513(b)(6) 1 of this title, the disposition within Ireland of the unencumbered balance, in the amount of approximately 6,000,000 Irish pounds, of the special account of Irish funds established under article IV of the Economic Cooperation Agreement between the United States of America and Ireland, dated June 28, 1948, for the purposes of— (1) scholarship exchange between the United States and Ireland; (2) other programs and projects (including the establishment of an Agricultural Insti- tute) to improve and develop the agricultural production and marketing potential of Ireland and to increase the production and efficiency of Irish industry; and (3) development programs and projects in aid of the foregoing objectives, is approved, as provided in the agreement be- tween the Government of the United States of America and the Government of Ireland, dated June 17, 1954. (Aug. 26, 1954, ch. 937, ch. II, § 417, 68 Stat. 849.) Editorial Notes REFERENCES IN TEXT Section 1513(b)(6) of this title, referred to in text, was repealed by section 542(a)(4) of act Aug. 26, 1954. § 1938. Repealed. July 18, 1956, ch. 627, § 8(m), 70 Stat. 559 Section, act Aug. 26, 1954, ch. 937, title IV, § 418, as added July 8, 1955, ch. 301, § 8(j), 69 Stat. 287, authorized the establishment of President’s Fund for Asian Eco- nomic Development. §§ 1939 to 1941. Repealed. Pub. L. 87–195, pt. III, § 642(a)(2), (7), Sept. 4, 1961, 75 Stat. 460 Section 1939, act Aug. 26, 1954, ch. 937, ch. II, § 419, as added Aug. 14, 1957, Pub. L. 85–141, § 8(n), 71 Stat. 362; amended June 30, 1958, Pub. L. 85–477, ch. II, § 205(l), 72 Stat. 267; July 24, 1959, Pub. L. 86–108, ch. II, § 205(n), 73 Stat. 251; May 14, 1960, Pub. L. 86–472, ch. II, § 204(l), 74 Stat. 138, related to atoms for peace. See section 2171(c) of this title. Act July 18, 1956, ch. 627, § 12, 70 Stat. 565, which was formerly classified to section 1939 of this title and au- thorized appropriations for atoms for peace, was re- pealed by Pub. L. 87–195, pt. III, § 642(a)(4) Sept. 4, 1961, 75 Stat. 460. Section 1940, act Aug. 26, 1954, ch. 937, ch. II, § 420, as added Aug. 14, 1957, Pub. L. 85–141, § 8(n), 71 Stat. 362; amended June 30, 1958, Pub. L. 85–477, ch. II, § 205(m), 72 Stat. 267, provided for a program of malaria eradi- cation. Section 1940a, act Aug. 26, 1954, ch. 937, ch. II, § 421, as added May 14, 1960, Pub. L. 86–472, ch. II, § 204(m), 74 Stat. 138, related to loans to small farmers. See section 2175 of this title. Section 1941, Pub. L. 86–108, ch. V, § 501, July 24, 1959, 73 Stat. 255, provided for international cooperation in health. Subsec. (b) of section 501 of Pub. L. 86–108 was previously repealed by Pub. L. 86–472, ch. IV, § 602, May 14, 1960, 74 Stat. 141. § 1942. Development assistance in Latin America; Congressional declaration of policy (a) It is the sense of the Congress that— (1) the historic, economic, political, and geo- graphic relationships among the American Re- publics are unique and of special significance and, as appropriate, should be so recognized in future legislation; (2) although governmental forms differ among the American Republics, the peoples of all the Americas are dedicated to the creation and maintenance of governments which will promote individual freedom; (3) the interests of the American Republics are so interrelated that sound social and eco- nomic progress in each is of importance to all and that lack of it in any American Republic may have serious repercussions in others; (4) for the peoples of Latin America to con- tinue to progress within the framework of our common heritage of democratic ideals, there is a compelling need for the achievement of so- cial and economic advance adequate to meet the legitimate aspirations of the individual citizens of the countries of Latin America for a better way of life; (5) there is a need for a plan of hemispheric development, open to all American Republics which cooperate in such plan, based upon a strong production effort, the expansion of for- eign trade, the creation and maintenance of internal financial stability, the growth of free economic and social institutions, and the de- velopment of economic cooperation, including all possible steps to establish and maintain eq- uitable rates of exchange and to bring about the progressive elimination of trade barriers; (6) mindful of the advantages which the United States has enjoyed through the exist- ence of a large domestic market with no inter- nal trade barriers, and believing that similar advantages can accrue to all countries, it is the hope of the people of the United States that all American Republics will jointly exert sustained common efforts which will speedily achieve that economic cooperation in the Western Hemisphere which is essential for lasting peace and prosperity; and (7) accordingly, it is declared to be the pol- icy of the people of the United States to sus- tain and strengthen principles of individual liberty, free institutions, private enterprise, and genuine independence in the Western Hemisphere through cooperation with all American Republics which participate in a joint development program based upon self- help and mutual efforts. (b) In order to carry forward the above policy, the Congress hereby— (1) urges the President through our constitu- tional processes to develop cooperative pro- grams on a bilateral or multilateral basis which will set forth specific plans of action de- signed to foster economic progress and im- provements in the welfare and level of living of all the peoples of the American Republics on the basis of joint aid, mutual effort, and common sacrifice; (2) proposes the development of workable procedures to expand hemispheric trade and to moderate extreme price fluctuations in com- modities which are of exceptional importance in the economies of the American Republics, and encourages the development of regional Page 484 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 1943 economic cooperation among the American Republics; (3) supports the development of a more accu- rate and sympathetic understanding among the peoples of the American Republics through a greater interchange of persons, ideas, tech- niques, and educational, scientific, and cul- tural achievements; (4) supports the strengthening of free demo- cratic trade unions to raise standards of living through improved management-labor rela- tions; (5) favors the progressive development of common standards with respect to the rights and the responsibilities of private investment which flows across national boundaries within the Western Hemisphere; (6) supports the consolidation of the public institutions and agencies of inter-American cooperation, insofar as feasible, within the structure of the Organization of American States and the strengthening of the personnel resources and authority of the Organization in order that it may play a role of increasing im- portance in all aspects of hemispheric coopera- tion; and (7) declares that it is prepared to give care- ful and sympathetic consideration to pro- grams which the President may develop for the purpose of promoting these policies. (Pub. L. 86–735, § 1, Sept. 8, 1960, 74 Stat. 869.) Editorial Notes CODIFICATION This section was not enacted as part of the Mutual Security Act of 1954 which comprises this chapter. Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 88–205, pt. IV, § 401(a), Dec. 16, 1963, 77 Stat. 390, amended Pub. L. 86–735 to provide: ‘‘That this Act [enacting this section and sections 1943 to 1945 of this title and amending section 1753a of this title] may be cited as the ‘Latin American Development Act’.’’ REVISION OF SOCIAL PROGRESS TRUST FUND AGREEMENT Pub. L. 93–189, § 36, Dec. 17, 1973, 87 Stat. 734, as amended by Pub. L. 97–113, title VII, § 734(a)(9), Dec. 29, 1981, 95 Stat. 1560, provided that: ‘‘(a) The President or his delegate shall seek, as soon as possible a revision of the Social Progress Trust Fund Agreement (dated June 19, 1961) between the United States and the Inter-American Development Bank. Such revision should provide for the— ‘‘(1) periodic transfer of unencumbered capital re- sources of such trust fund, and of any future repay- ments or other accruals otherwise payable to such trust fund, to the Inter-American Foundation, to be administered by the Foundation for purposes of part IV of the Foreign Assistance Act of 1969 (22 U.S.C. 290f and following); ‘‘(2) utilization of such unencumbered capital re- sources, future repayments, and other accruals by the Inter-American Development Bank for purposes of sections 1 and 2 of the Latin American Development Act (22 U.S.C. 1942 and 1943) in such a way that the re- sources received in the currencies of the more devel- oped member countries are utilized to the extent pos- sible for the benefit of the lesser developed member countries; or ‘‘(3) both the transfer described in paragraph (1) and the utilization described in paragraph (2). ‘‘(b) Any transfer or utilization under this section shall be in such proportions as may be agreed to be- tween the United States and the Inter-American Devel- opment Bank. ‘‘(c) Any transfer under subsection (a)(1) shall be in the amounts, and in available currencies, determined in consultation with the Inter-American Foundation, to be required for its program purposes. ‘‘(d) The revision of the Social Progress Trust Fund Agreement pursuant to this section shall provide that the President or his delegate shall specify, from time to time, after consultation with the Inter-American Development Bank, the particular currencies to be used in making the transfer or utilization described in this section. ‘‘(e) [Repealed. Pub. L. 97–113, title VII, § 734(a)(9), Dec. 29, 1981, 95 Stat. 1560].’’ [Amendment of provisions of section 36 of Pub. L. 93–189, set out above, by Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 586(h)(2)], Nov. 29, 1999, 113 Stat. 1535, 1501A–120, 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.] Executive Documents DELEGATION OF RESPONSIBILITIES RELATED TO THE LATIN AMERICAN DEVELOPMENT ACT OF 1960 Memorandum of President of the United States, May 30, 2001, 66 F.R. 30629, provided: Memorandum for the Secretary of State By the authority vested in me by the Constitution and laws of the United States of America, including section 301 of title 3 of the United States Code, I hereby delegate to the Secretary of State the functions con- ferred upon the President by the Latin American De- velopment Act of 1960, 22 U.S.C. 1942 et seq. The functions delegated by this memorandum may be redelegated as appropriate. You are authorized and directed to publish this memorandum in the Federal Register. GEORGE W. BUSH. § 1943. Authorization of appropriations; restric- tions; reports to congressional committees In order to carry out the purposes of section 1942 of this title, there is authorized to be appro- priated to the President not to exceed $680,000,000, which shall remain available until expended, and which the President may use, sub- ject to such further legislative provisions as may be enacted, in addition to other funds avail- able for such purposes, on such terms and condi- tions as he may specify: Provided, That none of the funds made available pursuant to this sec- tion shall be used to furnish assistance to any country in Latin America being subjected to economic or diplomatic sanctions by the Organi- zation of American States. The Secretary of State shall keep the Committee on Foreign Re- lations of the Senate and the Committee on For- eign Affairs of the House currently informed about plans and programs for the utilization of such funds. (Pub. L. 86–735, § 2, Sept. 8, 1960, 74 Stat. 870; Pub. L. 88–205, pt. IV, § 401(b), Dec. 16, 1963, 77 Stat. 390.) Editorial Notes CODIFICATION This section was not enacted as part of the Mutual Security Act of 1954 which comprises this chapter.