Page:United States Statutes at Large Volume 116 Part 1.djvu/727

 PUBLIC LAW 107-189-JUNE 14, 2002 116 STAT. 701 (c) REPORTS. —The Export-Import Bank of the United States 12 USC 635g shall include in the annual report required by section 8(a) of the note. Export-Import Bank Act of 1945 for each of fiscal years 2002 through 2006 a report on the efforts made by the Bank to carry out subparagraphs (E)(x) and (J) of section 2(b)(1) of such Act, and on how the efforts are assisting small businesses. SEC. 9. TIED AID CREDIT FUND. (a) PRINCIPLES, PROCESS, AND STANDARDS.— Section 10(b) of the Export-Import Bank Act of 1945 (12 U.S.C. 635i-3(b)) is amended— (1) in paragraph (2), by striking subparagraph (A) and inserting the following: "(A) in consultation with the Secretary and in accordance with the principles, process, and standards developed pursuant to paragraph (5) of this subsection and the purposes described in subsection (a)(5);"; and (2) by adding at the end the following: " (5) PRINCIPLES, PROCESS, AND STANDARDS GOVERNING USE OF THE FUND. — "(A) IN GENERAL.— The Secretary and the Bank jointly shall develop a pi-ocess for, and the principles and standards to be used in, determining how the amounts in the Tied Aid Credit Fund could be used most effectively and efficiently to carry out the purposes of subsection (a)(6). " (B) CONTENT OF PRINCIPLES, PROCESS, AND STAND- ARDS.— " (i) CONSIDERATION OF CERTAIN PRINCIPLES AND STANDARDS. —In developing the principles and standards referred to in subparagraph (A), the Secretary and the Bank shall consider administering the Tied Aid Credit Fund in accordance with the following principles and standards: "(I) The Tied Aid Credit Fund should be used to leverage multilateral negotiations to restrict the scope for aid-financed trade distortions through new multilateral rules, and to police existing rules. "(II) The Tied Aid Credit Fund will be used to counter a foreign tied aid credit confronted by a United States exporter when bidding for a capital project. "(Ill) Credible information about an offer of foreign tied aid will be required before the Tied Aid Credit Fund is used to offer specific terms to match such an offer. "(IV) The Tied Aid Credit Fund will be used to enable a competitive United States exporter to pursue further market opportunities on commercial terms made possible by the use of the Fund. "(V) Each use of the Tied Aid Credit Fund will be in accordance with the Arrangement unless a breach of the Arrangement has been committed by a foreign export credit agency. "(VI) The Tied Aid Credit Fund may only be used to defend potential sales by United States companies to a project that is enviroiimentally sound.

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