Title 22 — Foreign Relations and IntercourseRelease 119-73not60

§2282 Assistance for Commercial Debt Exchanges

Title 22 › Chapter 32— FOREIGN ASSISTANCE › Subchapter I— INTERNATIONAL DEVELOPMENT › Part VII— Debt-for-Nature Exchanges › § 2282

Last updated Apr 5, 2026|Official source

Summary

The head of USAID can give grants to private groups so they can buy discounted government debt from eligible foreign countries on the open market when that debt will be canceled or bought back under a debt-for-nature deal. Grantees and subgrantees may keep interest earned on the proceeds without putting it into the U.S. Treasury or needing more money from Congress, until it is spent on approved program uses, including setting up an endowment whose income supports those programs.

Full Legal Text

Title 22, §2282

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)The Administrator of the Agency for International Development is authorized to furnish assistance, in the form of 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 country which will be canceled or redeemed under the terms of an agreement with that government as part of a debt-for-nature exchange.

(b)Notwithstanding any other provision of law, a grantee (or any subgrantee) of the grants referred to in subsection (a) 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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Another section 462 of Pub. L. 87–195 is classified to section 2272 of this title.

Reference

Citations & Metadata

Citation

22 U.S.C. § 2282

Title 22 — Foreign Relations and Intercourse

Last Updated

Apr 5, 2026

Release point: 119-73not60