§ 2182a. Agricultural and productive credit and self-help community development programs
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(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), 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 1 of this title.
(f)Administrative and operating expenses; funds Funds held by the Overseas Private Investment Corporation pursuant to section 2196 1 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 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 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, § 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.)
Connections12 cite this · traces to 5
Cited by 12 sections · top 9
U.S. Code
statutes-at-large
- Public Law 106–113Making consolidated appropriations for the fiscal year ending September 30, 2000,and for other purposes
- Public Law 93–559To amend the Foreign Assistance Act of 1961, and for other purposes
- Public Law 96–53To authorize appropriations for fiscal year 1980 for international development and economic assistance programs and for the Peace Corps, and for other purposes
- Public Law 97–438To amend the Foreign Assistance Act of 1961 to extend for an additional year the Agricultural and Productive Credit and Self-Help Community Development Programs
- Public Law 95–88To amend the Foreign Assistance Act of 1961 to authorize development assistance programs for fiscal year 1978, to amend the Agricultural Trade Development and Assistance Act of 1954 to make certain changes in the authorities of that Act. and for other purposes
- Public Law 99–83To authorize international development and security assistance programs and Peace Corps programs for fiscal years 1986 and 1987, and for other purposes
- Public Law 95–424To amend the Foreign Assistance Act of 196i to authorize development and economic assistance programs for fiscal year 1979, to make certain changes in the authorities of that Act and the Agricultural Trade Development and Assistance Act of 1954, to improve the coordination and administration of Unit
Traces to 5 documents
41 references not yet in our index
- 1
- Pub. L. 87–195
- Pub. L. 93–559, § 8(a)(2)
- 88 Stat. 1796
- Pub. L. 95–88, title I, § 117(b)(1)
- 91 Stat. 540
- Pub. L. 95–424, title I, § 115(b)
- 92 Stat. 951
- Pub. L. 96–53, title I, § 112(b)
- 93 Stat. 364
- Pub. L. 97–438
- 96 Stat. 2286
- Pub. L. 98–473, title I, § 101(1)
- 98 Stat. 1884
- Pub. L. 99–83, title III, § 313(d)
- 99 Stat. 217
- Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 586(h)(3)]
- 113 Stat. 1535
- Section 2200 of this title
- section 240 of Pub. L. 87–195
- section 105 of Pub. L. 91–175
- section 8(b) of Pub. L. 93–559
- section 9 of Pub. L. 95–268
- section 2200 of this title
- 132 Stat. 3513
- Section 2196 of this title
- Pub. L. 106–113
- Pub. L. 98–473
- Pub. L. 99–83
- Pub. L. 96–53, § 112(b)(1)
- Pub. L. 96–53, § 112(b)(2)
- Pub. L. 96–53, § 112(b)(3)
- Pub. L. 95–424, § 115(b)
- Pub. L. 95–424, § 502(d)(1)
- Pub. L. 95–88
- section 202(b) of Pub. L. 92–226
- section 1301 of Pub. L. 99–83
- Pub. L. 96–53
- section 512(a) of Pub. L. 96–53
- Pub. L. 95–424
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§ 2182a
Agricultural and productive credit and self-help community development programs
Stat.×7
U.S.C.×4
Stat. Comp.×1
Cite1
Pub. L.Pub. L. 87–195
Pub. L.Pub. L. 93–559, § 8(a)(2)
Stat.88 Stat. 1796
Pub. L.Pub. L. 95–88, title I, § 117(b)(1)
Cites 46 · showing 10Cited by 12 across 3 sources