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U.S. Code as of:
01/19/04
Section 635r. Establishment of tied aid credit program administered by Trade and Development Agency
(a) Establishment and elements of program
The Director of the Trade and Development Agency shall carry out
a program of tied aid credits for United States exports. The
program shall be carried out in cooperation with the Export-Import
Bank of the United States and with private financial institutions
or entities, as appropriate. The program may include -
(1) the combined use of the credits, loans, or guarantees
offered by the Bank with concessional financing or grants made
available under subsection (d) of this section, by methods
including the blending of the financing of, or parallel financing
by, the Bank and the Trade and Development Agency; and
(2) the combination of concessional financing or grants made
available under subsection (d) of this section with financing
offered by private financial institutions or entities, by methods
including the blending of the financing of, or parallel financing
by, the Trade and Development Agency and private institutions or
entities.
(b) Combination of funds with financing by Export-Import Bank or
private commercial financing
These funds may be combined with financing by the Export-Import
Bank of the United States or private commercial financing in order
to offer, or arrange for, financing for the exportation of United
States goods and services which is substantially as concessional as
foreign financing for which there is reasonable proof that such
foreign financing is being offered to, or arranged for, a bona fide
foreign competitor for a United States export sale.
(c) Limitation on use of Agency funds; authorization for
establishment of fund
(1) Funds which are used to carry out a tied aid credit program
authorized by subsections (a) and (b) of this section shall be
offered only to finance United States exports which can reasonably
be expected to contribute to the advancement of the development
objectives of the importing country or countries, and shall be
consistent with the economic, security, and political criteria used
to establish country allocations of Economic Support Funds.
(2) The Director of the Trade and Development Agency is
authorized to establish a fund, as necessary, for carrying out a
tied aid credit financing program as described in this section.
(d) Use of Economic Support Funds
Funds available to carry out chapter 4 of part II of the Foreign
Assistance Act of 1961 [22 U.S.C. 2346 et seq.] may be used by the
Director of the Trade and Development Agency, with the concurrence
of the Secretary of State (as provided under section 531 of the
Foreign Assistance Act of 1961 [22 U.S.C. 2346]), for the purposes
for which funds made available under this subsection are authorized
to be used in section 635q of this title and this section. The
Secretary of State shall exercise his authority in cooperation with
the Administrator of the Agency for International Development.
Funds made available pursuant to this subsection may be used to
finance a tied aid credit activity in any country eligible for tied
aid credits under this subchapter.
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