Page:United States Statutes at Large Volume 103 Part 3.djvu/455

 PUBLIC LAW 101-240—DEC. 19, 1989 103 STAT. 2523 upon final approval by the Administrator of the Agency for Inter- national Development of the debt-for-nature exchange, a certification by the noi^ovemmental 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. "(b) Grants made under this section are intended to complement, and not substitute for, assistance otherwise available to a foreign countiyunder this Act or any other provision of law. "(c) The United States Government is prohibited from accepting Real property. title or interest in any land in a foreign country as a condition on the debt exchange. "SEC. 466. PILOT PROGRAM FOR SUB-SAHARAN AFRICA. —(a) The 22 USC 2286. Administrator of the Agency for International Development, in cooperation with nongovernmental conservation organizations, shall invite the government of each country in sub-Saharan Africa to submit a list of those areas of severely degraded national resources which threaten human survival and well-being and the opportunity for fiiture economic growth or those areas of biological or ecological importance within the territory of that country. (b) The Administrator of the Agency for mtemational Develop- ment shall assess the list submitted by each country under subsec- tion (a) and shall seek to reach agreement with the host country for the restoration and future sustainable use of those areas. "(c)(1) The Administrator of the Agency for International Develop- Grants. ment is authorized to make grants, on such terms and conditions as may be necessary, to nongovernmental orgeuiizations for the pur- chase on the open market of discounted commercial debt of a foreign government of an eligible sub-Saharan country in exchange for commitments by that government to restore natural resources identified by the host country under subsection (a) or for commit- ments to develop plans for sustainable use of such resources. "(2) Notwithstanding any other provision of law, a grantee (or any subgrantee) of the grants referred to in section (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 disburse- ments 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.". PART B—MULTILATERAL FOREIGN ASSISTANCE COORDINATION SEC 721. GENERAL POLICY. It is the sense of the Congress that the Secretary of State should seek to develop an increased consideration of global warming, tropi- cal deforestation, sustainable development, and biological diversity among the highest goals of bilateral foreign assistance programs of all countries. SEC 722. POLICY ON NEGOTIATIONS. (a) IN GENERAL.—The Secretary of State, acting through the United States representative to the Development Assistance Committee of the Organization for Economic Ckx>rdination and Development (PECD), should initiate, at the earliest practicable

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