Page:United States Statutes at Large Volume 97.djvu/1297

 PUBLIC LAW 98-181—NOV. 30, 1983 97 STAT. by, the Agency for International Development and private insti- tutions or entities. (b) These funds may be combined with financing by the Export- Combined Import Bank of the United States or private commercial financing funding, in order to offer, or arrange for, financing for the exportation of United States goods and services which is substantially as conces- sional as foreign financing for which there is reasonable proof that such foreign financing is being offered to, or arranged for, a bona fide foreign competitor for a United States export sale. (c)(1) Funds of the agency for International Development which are used to carry out a tied aid credit program authorized by subsections (a) and (b) shall be offered only to finance United States exports which can reasonably be expected to contribute to the advancement of the development objectives of the importing country or countries, and shall be consistent with the economic, security, and political criteria used to establish country allocations of Eco- nomic Support Funds. (2) The Administrator of the Agency for International Develop- ment is authorized to establish a fund, as necessary, for carrying out a tied aid credit financing program as described in this section. (d) The Administrator of the Agency for International Develop- Allocations. ment may draw on Economic Support Funds allocated for Commod- ity Import Programs to finance a tied aid credit activity. IMPLEMENTATION SEC. 646. (a)(1) The National Advisory Council on International Monetary and Financial Policies shall coordinate the implementa- tion of the tied aid credit programs authorized by sections 644 and 645. (2) No financing may be approved under the tied aid credit programs authorized by section 644 or section 645 without the unanimous consent of the members of the National Advisory Coun- cil on International Monetary and Financial Policies. 12 USC 635s. Ante, p. 1264. DEFINITIONS SEC. 647. For purposes of this part— (1) the term 'tied aid credit" means credit— (A) which is provided for development aid purposes; (B) which is tied to the purchase of exports from the country granting the credit; (C) which is financed either exclusively from public funds, or, as a mixed credit, partly from public and partly from private funds; and (D) which has a grant element, as defined by the Develop- ment Assistance Committee of the Organization for Eco- nomic Cooperation and Development, greater than zero percent; (2) the term "government-mixed credits" means the combined use of credits, insurance, and guarantees offered by the Export- Import Bank of the United States with concessional financing or grants offered by the Agency for International Development to finance exports; (3) the term "public-private cofinancing" means the combined use of either official development assistance or official export credit with private commercial credit to finance exports; 12 USC 635t.

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