§ 285j. United States Special Resources

354 words·~2 min read·/usc/title-22/section-285j

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(a)Development projects and programs The United States Special Resources shall be used to finance specific high priority development projects and programs in developing member countries of the Bank with emphasis on such projects and programs in the Southeast Asia region.

(b)Authorized uses The United States Special Resources shall be used by the Bank only for—

(1)making development loans on terms which may be more flexible and bear less heavily on the balance of payments than those established by the Bank for its ordinary operations; and

(2)providing technical assistance credits on a reimbursable basis.

(c)Eligible goods and services

(1)The United States Special Resources may be expended by the Bank only for procurement in the United States of goods produced in, or services supplied from the United States, except that the United States Governor, in consultation with the National Advisory Council on International Monetary and Financial Policies, may allow eligibility for procurement in other member countries from the United States Special Resources if he determines that such procurement eligibility would materially improve the ability of the Bank to carry out the objectives of its special funds resources and would be compatible with the international financial position of the United States.

(2)The United States Special Resources may be used to pay for administrative expenses arising from the use of the United States Special Resources, but only to the extent such expenses are not covered from the Bank’s service fee or income from use of United States Special Resources.

(d)Repayment in dollars All financing of programs and projects by the Bank from the United States Special Resources shall be repayable to the Bank by the borrowers in United States dollars.

(Pub. L. 89–369, § 13, as added Pub. L. 92–245, § 1, Mar. 10, 1972, 86 Stat. 57.)

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