
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: 22USC2282]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
                 SUBCHAPTER I--INTERNATIONAL DEVELOPMENT
 
                   Part VII--Debt-for-Nature Exchanges
 
Sec. 2282. Assistance for commercial debt exchanges

    (a) The Administrator of the Agency for International Development is 
authorized to furnish assistance, in the form of grants on such terms 
and conditions as may be necessary, to nongovernmental organizations for 
the purchase on the open market of discounted commercial debt of a 
foreign government of an eligible country which will be canceled or 
redeemed under the terms of an agreement with that government as part of 
a debt-for-nature exchange.
    (b) Notwithstanding any other provision of law, a grantee (or any 
subgrantee) of the grants referred to in subsection (a) of this section 
may retain, without deposit in the Treasury of the United States and 
without further appropriation by Congress, interest earned on the 
proceeds of any resulting debt-for-nature exchange pending the 
disbursements of such proceeds and interest for approved program 
purposes, which may include the establishment of an endowment, the 
income of which is used for such purposes.

(Pub. L. 87-195, pt. I, Sec. 462 [472], as added Pub. L. 101-240, title 
VII, Sec. 711, Dec. 19, 1989, 103 Stat. 2521.)

                          Codification

    Another section 462 of Pub. L. 87-195 is classified to section 2272 
of this title.
