Page:United States Statutes at Large Volume 106 Part 4.djvu/615

 PUBLIC LAW 102-511—OCT. 24, 1992 106 STAT. 3351 "(C) to assist countries in meeting their food and fiber needs, particularly— "(i) developing countries; and "(ii) countries that are emerging democracies that have committed to carry out, or are carrying out, policies that promote economic freedom, private domestic production of food commodities for domestic consumption, and the creation and expansion of efiRcient domestic markets for the purchase and sale of agricultural commodities; and". (c) RESTRICTIONS. —Section 201 of the Agricultural Trade Act of 1978 (7 U.S.C. 5621) is amended by adding at the end the following new subsection: " (f) RESTRICTIONS. —The Commodity Credit Corporation may not make export sales financing authorized under this section available in connection with sales of an agricultural commodity to any country that the Secretary determines cannot adequately service the debt associated with such sale.". (d) REGULATIONS.— The Secretary of Agriculture shall issue 22 USC 5621 final regulations to implement section 201 of the Agricultural Trade "°^- Act of 1978 (7 U.S.C. 5621), as amended by this section, not later than 30 days after the date of enactment of this Act. SEC. 708. EXPORT CREDIT GUARANTEES. (a) REQUIRED DETERMINATIONS.— Section 202(c) of the Agricultural Trade Act of 1978 (7 U.S.C. 5622(c)) is amended by inserting after paragraph (3) the following: "The reference in paragraphs (1) and (2) to 'on a long-term basis' shall not apply in the case of determinations with respect to sales to the independent states of the former Soviet Union.". (b) PURPOSE OF PROGRAM.— Section 202(d)(3) of the Agricultural Trade Act of 1978 (7 U.S.C. 5622(c)) to read as follows: "(3) to assist countries in meeting their food and fiber needs, particularly— "(A) developing countries; and committed to carry out, or are carrying out, policies that promote economic freedom, private domestic production of food commodities for domestic consumption, and the creation and expansion of efficient domestic markets for the purchase and sale of agricultural commodities; and". SEC. 709. EXPORT PROMOTION PROGRAMS AMENDMENTS. (a) PROCESSED AND HIGH-VALUE AGRICULTURAL PRODUCT EXPORT CREDIT GUARANTEE PROGRAM.— Section 202 of the Agricultural Trade Act of 1978 (7 U.S.C. 5622) is amended— (1) in subsections (a) and (b), by inserting ", including processed agricultural products and high-value agricultural products," after "agricultural commodities" both places it appears; and (2) by adding at the end the following new subsection: "(k) SET-ASIDES.— "(1) IN GENERAL.—In issuing export credit guarantees under this section in connection with sales to the independent states of the former Soviet Union, the Commodity Credit Corporation shall, to the extent practicable and subject to paragraph (2), ensure that no less than 35 percent of the total amount of credit guarantees issued for a fiscal year are issued
 * (B) countries that are emerging democracies that have

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