22 U.S.C. § 2285: Terms and conditions

Summary

A grant is considered complete only after three things happen: the USAID Administrator gives final approval of the debt-for-nature swap, the nonprofit group confirms the host government agreed to the deal, and the commercial debt will be canceled as arranged. These grants must add to other U.S. aid rather than replace it, and the U.S. may not take ownership or any legal interest in foreign land as part of the swap.

Title 22, §2285

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Fulfillment upon final approval by Administrator (b) Grants intended to complement assistance otherwise available

The terms and conditions for making grants under this part shall be deemed to be fulfilled upon final approval by the Administrator of the Agency for International Development of the debt-for-nature exchange, a certification by the nongovernmental organization that the host government has accepted the terms of the exchange, and that an agreement has been reached to cancel the commercial debt in an agreed upon fashion.

(c)Prohibition against acceptance of title or interest in land as condition on debt exchange

The United States Government is prohibited from accepting title or interest in any land in a foreign country as a condition on the debt exchange.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsec. (b), was in the original “this Act”, meaning Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424, known as the Foreign Assistance Act of 1961. For complete classification of this Act to the Code, see

Short Title

note set out under section 2151 of this title and Tables. Codification Another section 465 of Pub. L. 87–195 is classified to section 2275 of this title.

§2285 Terms and Conditions