
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC2182a]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
                 SUBCHAPTER I--INTERNATIONAL DEVELOPMENT
 
                         Part II--Other Programs
 
         subpart iii--shelter and other credit guaranty programs
 
Sec. 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 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 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.

(Pub. L. 87-195, pt. I, Sec. 222A, as added Pub. L. 93-559, 
Sec. 8(a)(2), Dec. 30, 1974, 88 Stat. 1796; amended Pub. L. 95-88, title 
I, Sec. 117(b)(1), Aug. 3, 1977, 91 Stat. 540; Pub. L. 95-424, title I, 
Sec. 115(b), title V, Sec. 502(d)(1), Oct. 6, 1978, 92 Stat. 951, 959; 
Pub. L. 96-53, title I, Sec. 112(b), Aug. 14, 1979, 93 Stat. 364; Pub. 
L. 97-438, Jan. 8, 1983, 96 Stat. 2286; Pub. L. 98-473, title I, 
Sec. 101(1) [title V, Sec. 541(a)], Oct. 12, 1984, 98 Stat. 1884, 1903; 
Pub. L. 99-83, title III, Sec. 313(d), Aug. 8, 1985, 99 Stat. 217; Pub. 
L. 106-113, div. B, Sec. 1000(a)(2) [title V, Sec. 586(h)(3)], Nov. 29, 
1999, 113 Stat. 1535, 1501A-120.)

                        Repeal of Subsection (d)

        For repeal of subsection (d) of this section by Pub. L. 106-113, 
    div. B, Sec. 1000(a)(2) [title V, Sec. 586(h)(3), (j)], Nov. 29, 
    1999, 113 Stat. 1535, 1501A-120, see Abolition of the Inter-American 
    Foundation note set out under section 290f of this title.

                       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 is classified to section 
2200 of this title.


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 (Sec. 2346 et seq.), VI (Sec. 2348 et seq.), and VIII 
(Sec. 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.

                          Codification

    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 enacted 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-developed countries'' and ``in not 
more than six Latin American 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, Sec. 112(b)(1), substituted 
``six'' for ``five''.
    Subsec. (c). Pub. L. 96-53, Sec. 112(b)(2), substituted 
``$20,000,000'' for ``$15,000,000''.
    Subsec. (h). Pub. L. 96-53, Sec. 112(b)(3), substituted ``through 
September 30, 1982'' for ``until September 30, 1979''.
    1978--Subsec. (h). Pub. L. 95-424, Sec. 115(b), substituted 
``September 30, 1979'' for ``September 30, 1978''.
    Subsec. (j). Pub. L. 95-424, Sec. 502(d)(1), struck out subsec. (j) 
relating to a Presidential report to Congress on the results of the 
program established under this section.
    1977--Subsec. (h). Pub. L. 95-88 substituted ``September 30, 1978'' 
for ``December 31, 1977''.


                    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 section 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.

                  Section Referred to in Other Sections

    This section is referred to in section 2183 of this title.
