22 U.S.C. § 2421d: Funding for capital projects

Summary

Congress strongly urges the President to spend at least $650,000,000 in fiscal year 1993 and at least $700,000,000 in fiscal year 1994 from money available under the Economic Support Fund, the SEED Act, the Freedom for Russia and Emerging Eurasian Democracies and Open Markets Support Act of 1992, and the Multilateral Assistance Initiative for the Philippines to make grants for capital projects that support development. Those grants can be combined with financing from private banks or other sources. Money appropriated for development assistance and for the Development Fund for Africa cannot be used for capital projects unless the projects meet the standards in section 2421b. That rule does not apply to projects with funds committed or spent before October 28, 1992.

Title 22, §2421d

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Funding level

The Congress strongly urges the President to use at least $650,000,000 for fiscal year 1993 and at least $700,000,000 for fiscal year 1994 of the total amounts made available for assistance under chapter 4 of part II of the Foreign Assistance Act of 1961 [22 U.S.C. 2346 et seq.] (relating to the economic support fund), assistance under the Support for East European Democracy (SEED) Act of 1989 [22 U.S.C. 5401 et seq.], assistance under the Freedom for Russia and Emerging Eurasian Democracies and Open Markets Support Act of 1992, and assistance under the Multilateral Assistance Initiative for the Philippines, for grants for developmentally sound capital projects. Such grants may be combined with financing offered by private financial entities or other entities.

(b)Development assistance capital projects

Funds appropriated to carry out chapter 1 or chapter 10 of part I of the Foreign Assistance Act of 1961 [22 U.S.C. 2151 et seq., 2293 et seq.] (relating to development assistance and the Development Fund for Africa) may not be used for capital projects that do not meet the criteria contained in section 2421b of this title. This subsection does not apply with respect to capital projects for which funds have been obligated or expended before October 28, 1992.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Foreign Assistance Act of 1961, referred to in subsecs. (a) and (b), is Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424. Chapter 10 of part I of the Act is classified generally to part X (§ 2293 et seq.) of subchapter I of chapter 32 of this title. Chapter 4 of part II of the Act is classified generally to part IV (§ 2346 et seq.) of subchapter II of chapter 32 of this title. For complete classification of this Act to the Code, see

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note set out under section 2151 of this title and Tables. The Support for East European Democracy (SEED) Act of 1989, referred to in subsec. (a), is Pub. L. 101–179, Nov. 28, 1989, 103 Stat. 1298, which is classified principally to chapter 63 (§ 5401 et seq.) of this title. For complete classification of this Act to the Code, see

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note set out under section 5401 of this title and Tables. The Freedom for Russia and Emerging Eurasian Democracies and Open Markets Support Act of 1992, referred to in subsec. (a), is Pub. L. 102–511, Oct. 24, 1992, 106 Stat. 3320. For complete classification of this Act to the Code, see

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note set out under section 5801 of this title and Tables. Codification Section was enacted as part of the Aid, Trade, and Competitiveness Act of 1992 and also as part of the Jobs Through Exports Act of 1992, and not as part of the Foreign Assistance Act of 1961 which comprises this chapter.

§2421d Funding for Capital Projects

Summary

Title 22, §2421d

Notes & Related Subsidiaries

Editorial Notes

References in Text

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