§ 2286. Pilot program for sub-Saharan Africa

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(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)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)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.

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

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Cited by 2 sections

U.S. Code

§ 2276
“Central American countries” defined

statutes-at-large

Public Law 101–240
To reauthorize the Export-Import Bank tied aid credit fund and pilot interest subsidy program, to provide for the participation of the United States in a replenishment of the Inter-American Development Bank and in the Enhanced Structural Adjustment Facility of the International Monetary Fund, to imp

Traces to 1 document

U.S. Code

“Central American countries” defined
§ 2276

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1
Pub. L. 87–195
Pub. L. 101–240, title VII, § 711
103 Stat. 2523
section 466 of Pub. L. 87–195

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§ 2286

Pilot program for sub-Saharan Africa

Stat.×1

U.S.C.×1

U.S.C.§ 2276

Cite1

Pub. L.Pub. L. 87–195

Pub. L.Pub. L. 101–240, title VII, § 711

Stat.103 Stat. 2523

Pub. L.section 466 of Pub. L. 87–195

Cites 6Cited by 2 across 2 sources