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est that such country would otherwise be required to make to the Commodity Credit Corporation under dollar sales agreements under title I 49 if

(1) that country is a least developed country; and

(2) either

(A) an International Monetary Fund standby agreement is in effect with respect to that country;

(B) a structural adjustment program of the International Bank for Reconstruction and Development or of the International Development Association is in effect with respect to that country;

(C) a structural adjustment facility, enhanced structural adjustment facility, or similar supervised arrangement with the International Monetary Fund is in effect with respect to that country; or

(D) even though such an agreement, program, facility, or arrangement is not in effect, the country is pursuing national economic policy reforms that would promote democratic, market-oriented, and long term economic development.

(b) REQUEST FOR DEBT RELIEF BY PRESIDENT.-The President may provide debt relief under subsection (a) only if a notification is submitted to Congress at least 10 days prior to providing the debt relief.50 Such a notification shall

(1) specify the amount of official debt the President proposes to liquidate; and

(2) identify the countries for which debt relief is proposed and the basis for their eligibility for such relief.

(c) APPROPRIATIONS ACTION REQUIRED.-The aggregate amount of principal and interest waived under this section may not exceed the amount approved for such purpose in an Act appropriating funds to carry out this Act.

(d) LIMITATION ON NEW CREDIT ASSISTANCE.-If the authority of this section is used to waive payments otherwise required to be made by a country pursuant to this Act, the President may not provide any new credit assistance for that country under this Act during the 2-year period beginning on the date such waiver authority is exercised, unless the President provides to the Congress, before the assistance is provided, a written justification for the provision of such new credit assistance.

(e) APPLICABILITY.-The authority of this section applies with respect to credit sales agreements entered into before November 28, 1990.46

SEC. 412.51 AUTHORIZATION OF APPROPRIATIONS.

(a) REIMBURSEMENT.-There are authorized to be appropriated such sums as may be necessary to carry out—

(1) the concessional credit sales program established under title I;

49 Sec. 326 of Public Law 102-237 (105 Stat. 1857) struck out "this title" and inserted in lieu thereof "title I".

50 Sec. 336 of Public Law 102-237 (105 Stat. 1859) inserted "at least 10 days prior to providing the debt relief".

$17 U.S.C. 1736f.

(2) the emergency and private assistance program under title II; and

(3) the grant program established under title III, including such amounts as may be required to make payments to the Commodity Credit Corporation to the extent the Commodity Credit Corporation is not reimbursed under the programs under this Act for the actual costs incurred or to be incurred by such Corporation in carrying out such programs.

(b) LIMITATIONS. Of the amounts made available in each fiscal year to carry out titles I and III, not less than

(1) 40 percent shall be made available to carry out the credit sales program established under title I; and

(2) 40 percent shall be made available to carry out the grant program established under title III.

(c) 52 TRANSFER OF FUNDS.-Notwithstanding any other provision of law and except as provided in subsection (b), if the President determines it to be necessary for purposes of this Act, the President may direct that not in excess of 15 percent of the funds available in any fiscal year for carrying out any title of this Act be used to carry out any other title of this Act.

(d) BUDGET.-In presenting the Budget of the United States, the President shall classify expenditures under this Act as expenditures for international affairs and finance rather than for agriculture and agricultural resources.

(e) VALUE OF COMMODITIES.-Notwithstanding any other provision of law, in determining the reimbursement due the Commodity Credit Corporation for all expenses incurred under this Act, commodities from the inventory of the Commodity Credit Corporation that were acquired under title I of the Agricultural Act of 1949 (7 U.S.C. 1421 et seq.) shall be valued at a price not greater than the export market price for such commodities, as determined by the Secretary, as of the time such commodity is made available under this Act.

SEC. 413.53 COORDINATION OF FOREIGN ASSISTANCE PROGRAMS.

To the maximum extent practicable, assistance for a foreign country under this Act shall be coordinated and integrated with United States development assistance objectives and programs for that country and with the overall development strategy of that country. Special emphasis should be placed on, and funds devoted to, activities that will increase the nutritional impact of programs of assistance under this Act, and child survival programs and projects, in least developed countries by improving the design and implementation of such programs and projects.

SEC. 414.54 ASSISTANCE IN FURTHERANCE OF NARCOTICS CONTROL OBJECTIVES OF THE UNITED STATES.

(a) SUBSTANTIAL INJURY.-Local currencies that are made available for use under this Act may not be used to finance the produc

52 Sec. 4(e) of Executive Order No. 12752 of February 25, 1991 (56 F.R. 8255; February 27, 1991) delegated to the Director of the Office of Management and Budget the functions conferred on the President in sec. 412(c).

53 7 U.S.C. 1736g.

54 7 U.S.C. 1736g-1.

tion for export of agricultural commodities (or products thereof) that would compete in the world market with similar agricultural commodities (or products thereof) produced in the United States, if such competition would cause substantial injury to the United States producers, as determined by the President.

(b) EXCEPTION FOR NARCOTICS CONTROL.-Notwithstanding subsection (a), the President may provide assistance under this Act, including assistance through the use of local currencies generated by the sale of commodities under such Act, for economic development activities undertaken in an eligible country that is a major illicit drug producing country (as defined in section 481(e)(2) 55 of the Foreign Assistance Act of 1961), for the purpose of reducing the dependence of the economy of such country on the production of crops from which narcotic and psychotropic drugs are derived.

TITLE V-FARMER-TO-FARMER PROGRAM

SEC. 501.56 FARMER-TO-FARMER PROGRAM.

(a) IN GENERAL.-To further assist developing countries, middleincome countries, and emerging democracies to increase farm production and farmer incomes, the President may, notwithstanding any other provision of law

(1) establish and administer a program of farmer-to-farmer assistance between the United States and such countries to assist in increasing food production and distribution and improving the effectiveness of the farming and marketing operations of farmers:

(2) utilize United States farmers, agriculturalists, land grant universities, private agribusinesses, and nonprofit farm organizations to work in conjunction with farmers and farm organizations in such countries, on a voluntary basis, to facilitate the improvement of farm and agribusiness operations and agricultural systems in such countries, including animal care and health, field crop cultivation, fruit and vegetable growing, livestock operations, food processing and packaging, farm credit, marketing, inputs, agricultural extension, and the strengthening of cooperatives and other farmer groups;

(3) transfer the knowledge and expertise of United States agricultural producers and businesses, on a people-to-people basis, to such countries while enhancing the democratic process by supporting private and public 57 agriculturally related organizations that request and support technical assistance activities through cash and in-kind services;

(4) to the extent practicable, enter into contracts or other cooperative agreements with or make grants to private voluntary organizations, cooperatives, land grant universities, private agribusiness, or nonprofit farm organizations to carry out this

5$ Formerly read "section 481(i)2)". Sec. 6(a) of the International Narcotics Control Act of 1992 (Public Law 102-583; 106 Stat. 4932) provided that "Any reference in any provision of law enacted before the date of enactment of this Act to section 481(e) or 481(i) of that Act shall be deemed to be a reference to section 489 or section 481(e)".

567 U.S.C. 1737. Sec. 4(f) of Executive Order No. 12752 of February 25, 1991 (56 F.R. 8255; February 27, 1991) delegated to the Administrator of the Agency for International Development the functions conferred on the President in title V.

57 Sec. 301 of Public Law 102-237 (105 Stat. 1855) struck out a comma after "public".

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section (except that any such contract or other agreement may obligate the United States to make outlays only to the extent that the budget authority for such outlays is available pursuant to subsection (c) or has otherwise been provided in advance in appropriation Acts);

(5) coordinate programs established under this section with other foreign assistance activities carried out by the United States; and

(6) to the extent practicable, augment the funds available for programs established under this section through the use of foreign currencies that accrue from the sale of agricultural commodities under this Act, and local currencies generated from other types of foreign assistance activities.

(b) DEFINITIONS.-The following definitions apply for purposes of this section:

(1) EMERGING DEMOCRACY.-The term "emerging democracy" means a country that is taking steps toward

(A) political pluralism, based on progress toward free and fair elections and a multiparty political system;

(B) economic reform, based on progress toward a marketoriented economy;

(C) respect for internationally recognized human rights; and

(D) a willingness to build a friendly relationship with the United States.

(2) MIDDLE INCOME COUNTRY.-The term "middle income country" means a country that has developed economically to the point where it does not receive bilateral development assistance from the United States.

(c) MINIMUM FUNDING.-Notwithstanding any other provision of law, not less than 0.2 percent of the amounts made available for each of the fiscal years 1991 through 1995 to carry out this Act, in addition to any funds that may be specifically appropriated to carry out this section, shall be used to carry out programs under this section, with not less than 0.1 percent to be used for programs in developing countries.

TITLE VI-ENTERPRISE FOR THE AMERICAS INITIATIVE SEC. 601.58 ESTABLISHMENT OF THE FACILITY.

There is established in the Department of the Treasury an entity to be known as the "Enterprise for the Americas Facility" (hereaf ter referred to in this title as the "Facility").

SEC. 602.59 PURPOSE.

The purpose of this title is to encourage and support improvement in the lives of the people of Latin America and the Caribbean through market-oriented reforms and economic growth with interrelated actions to promote debt reduction, investment reforms, and community-based conservation and sustainable use of the environment. The Facility will support such objectives through the administration of debt reduction operations relating to those countries

58 7 U.S.C. 1738. 59 7 U.S.C. 1738a.

that meet investment reform and other policy conditions provided for in this title.

SEC. 603.60 ELIGIBILITY FOR BENEFITS UNDER THE FACILITY.

(a) REQUIREMENTS.-To be eligible for benefits from the Facility under this title, a country shall

(1) be a Latin American or Caribbean country;

(2) have in effect or have received approval for, or, as appropriate in exceptional circumstances, be making significant progress towards the establishment of—

(A) an International Monetary Fund (hereafter referred to in this title as the "IMF") standby arrangement, extended IMF arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility, or in exceptional circumstances, an IMFmonitored program or its equivalent; and

(B) as appropriate, structural or sectoral adjustment loans from the International Bank for Reconstruction and Development (hereafter referred to in this title as the "World Bank") or the International Development Association (hereafter referred to in this title as the "IDA");

(3) have placed into effect major investment reforms in conjunction with an Inter-American 61 Development Bank (hereafter referred to as the "IDB") loan or otherwise be implementing, or making significant progress towards an open investment regime; and

(4) if appropriate, have agreed with its commercial bank lenders on a satisfactory financing program, including, as appropriate, debt or debt service reduction.

(b) ELIGIBILITY DETERMINATION.-The President shall determine whether a country is an eligible country for purposes of subsection (a).

SEC. 604.62 REDUCTION OF CERTAIN DEBT.

(a) AUTHORITY TO REDUCE DEBT.

(1) IN GENERAL.-Notwithstanding any other provision of law, the President may reduce the amount owed to the United States or any agency of the United States, and outstanding as of January 1, 1990, as a result of any credits extended under title I to a country eligible for benefits from the Facility.

(2) AVAILABILITY 63 OF APPROPRIATIONS.-The authorities under this section may be exercised only to the extent provided for in advance in appropriation Acts.

(b) LIMITATION.-A debt reduction authorized under subsection (a) shall be accomplished, at the direction of the Facility, through

60 7 U.S.C. 1738b.

61 Sec. 302 of Public Law 102-237 (105 Stat. 1855) added the hyphen to "Inter-American". 627 U.S.C. 1738c. Title II, chapter VIII of Public Law 102-27 (105 Stat. 147, 7 U.S.C. 1736e note) provided the following:

"Title I of Public Law 480 program allowed for the repayment of loans for the sale of agricultural commodities in foreign or local currencies until December 31, 1971. Since that time, until the law was changed in the 1985 farm bill, all sales have been on dollar credit terms. In view of the present financial situation, it is impossible for many countries to repay their loans in dollars. Therefore, the President may use the authority in section 411 and section 604 of the Agricultural Trade Development and Assistance Act of 1954 to renegotiate the payment on Public Law 480 debt in eligible countries in Latin America, the Caribbean and sub-Saharan Africa.". 63 Sec. 303 of Public Law 102-237 (105 Stat. 1855) corrected the spelling of "Availability".

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