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PUBLIC LAW 89-808-NOV. 11, 1966

[80 STAT.

Public Law 89-808 November 11, 1966

AN ACT

[H.R. 14929]

ipj> promote international trade in agricultural commodities, to combat hunger and malnutrition, to further economic development, and for other purposes.

Food for Peace Act of 1966.

68 Stat. 454. 7 USC 1691. Declaration of policy.

7 USC 17011709.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Food for Peace Act of 1966". SEC. 2. The Agricultural Trade Development and Assistance Act of 1954, as amended, is amended— (A) By amending section 2 to read as follows: "SEC. 2. The Congress hereby declares it to be the policy of the United States to expand international trade; to develop and expand export markets for United States agricultural commodities; to use the abundant agricultural productivity of the United States to combat hunger and malnutrition and to encourage economic development in the developing countries, with particular emphasis on assistance to those countries that are determined to improve their own agricultural production; and to promote in other ways the foreign policy of the United States." (B) By amending title I to read as follows: "TITLE I

Agreements with friendly countries.

75 Stat. 426; Ante, p. 796. 22 USC 2161.

"SEC. 101. I n order to carry out the policies and accomplish the objectives set forth in section 2 of this Act, the President is authorized to negotiate and carry out agreements with friendly countries to provide for the sale of agricultural commodities for dollars on credit terms or for foreign currencies. "SEC. 102. For the purpose of carrying out agreements concluded under this Act the Commodity Credit Corporation is authorized to finance the sale and exportation of agricultural commodities whether from private stocks or from stocks of the Commodity Credit Corporation. "SEC. 103. In exercising the authorities conferred upon him by this title, the President shall— " (a) take into account efforts of friendly countries to help themselves toward a greater degree of self-reliance, including efforts to meet their problems of food production and population growth; " (b) take steps to assure a progressive transition from sales for foreign currencies to sales for dollars (or to the extent that transition to sales for dollars under the terms applicable to such sales is not possible, transition to sales for foreign currencies on credit terms no less favorable to the United States than those for development loans made under section 201 of the Foreign Assistance Act of 1961, as amended, and on terms which permit conversion to dollars at the exchange rate applicable to the sales agreement) at a rate whereby the transition can be completed by December 31, 1971: Provided, That provision may be included in any agreement for payment in foreign currencies to the extent that the President determines that such currencies are needed for the purpose of subsections (a), (b), (c), (e), and (h) of section 104; "(c) take reasonable precautions to safeguard usual marketings of the United States and to assure that sales under this title will not unduly disrupt world prices of agricultural commodities or normal patterns of commercial trade with friendly countries;

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