
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: 22USC2286]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
                     CHAPTER 32--FOREIGN ASSISTANCE
 
                 SUBCHAPTER I--INTERNATIONAL DEVELOPMENT
 
                   Part VII--Debt-for-Nature Exchanges
 
Sec. 2286. Pilot program for sub-Saharan Africa


(a) List of areas of severely degraded national resources or of 
        biological or ecological importance

    The Administrator of the Agency for International Development, in 
cooperation with nongovernmental conservation organizations, shall 
invite the government of each country in sub-Saharan Africa to submit a 
list of those areas of severely degraded national resources which 
threaten human survival and well-being and the opportunity for future 
economic growth or those areas of biological or ecological importance 
within the territory of that country.

(b) Assessment of list; agreement for future use of areas

    The Administrator of the Agency for International Development shall 
assess the list submitted by each country under subsection (a) of this 
section and shall seek to reach agreement with the host country for the 
restoration and future sustainable use of those areas.

(c) Grants for purchase of discounted commercial debt on open market; 
        retention of interest by grantee

    (1) The Administrator of the Agency for International Development is 
authorized to make 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 sub-Saharan country in exchange for commitments by that 
government to restore natural resources identified by the host country 
under subsection (a) of this section or for commitments to develop plans 
for sustainable use of such resources.
    (2) Notwithstanding any other provision of law, a grantee (or any 
subgrantee) of the grants referred to in section (a) \1\ 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.
---------------------------------------------------------------------------
    \1\ So in original. Probably should be ``paragraph (1)''.
---------------------------------------------------------------------------

(Pub. L. 87-195, pt. I, Sec. 466 [476], as added Pub. L. 101-240, title 
VII, Sec. 711, Dec. 19, 1989, 103 Stat. 2523.)

                          Codification

    Another section 466 of Pub. L. 87-195 is classified to section 2276 
of this title.
