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Title 22 — Foreign Relations and IntercourseRelease 119-73

§2430e Interest on new obligations

Title 22 › Chapter CHAPTER 32— - FOREIGN ASSISTANCE › Subchapter SUBCHAPTER III–A— - ENTERPRISE FOR THE AMERICAS INITIATIVE › § 2430e

Last updated Apr 6, 2026|Official source

Summary

New obligations for a beneficiary country must carry a concessional (lower) interest rate. If the country has an Americas Framework Agreement, interest is paid in the country's local money and put into an Americas Fund that the country owns until it is spent as the agreement allows. If the country has not signed the agreement, interest is paid in U.S. dollars and put into a U.S. government account for those payments. If the country signs the agreement after interest first became due, any interest already paid stays where it is and is not moved into the Americas Fund.

Full Legal Text

Title 22, §2430e

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)New obligations issued by a beneficiary country pursuant to section 2430c(b) of this title shall bear interest at a concessional rate.
(b)(1)If the beneficiary country has entered into an Americas Framework Agreement, interest shall be paid in the local currency of the beneficiary country and deposited in an Americas Fund. Such interest shall be the property of the beneficiary country, until such time as it is disbursed pursuant to section 2430f(d) of this title. Such local currencies shall be used for the purposes specified in the Americas Framework Agreement.
(2)If the beneficiary country has not entered into an Americas Framework Agreement, interest shall be paid in United States dollars and deposited in the United States Government account established for interest payments of the obligations for which the new obligations were exchanged.
(c)If a beneficiary country enters into an Americas Framework Agreement subsequent to the date on which interest first became due on the newly issued obligation, any interest already paid on such new obligation shall not be redeposited into the Americas Fund established for that country.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 706 of Pub. L. 87–195, pt. IV, Sept. 4, 1961, 75 Stat. 463, enacted section 1945 of this title, prior to repeal by Pub. L. 87–565, pt. IV, § 401, Aug. 1, 1962, 76 Stat. 263, except insofar as section 706 affected section 1945.

Reference

Citations & Metadata

Citation

22 U.S.C. § 2430e

Title 22 — Foreign Relations and Intercourse

Last Updated

Apr 6, 2026

Release point: 119-73