Complex sentence: The CIP was based on a scheme whereby US dollars were given to the treasury of the South Vietnamese government, and selected businesspeople were given import licenses that allowed them to purchase US dollars with South Vietnamese currency at a rate far below the market value.
Split into simpler sentences: The CIP was a scheme whereby US dollars were given to the South Vietnamese government treasury. Selected businesspeople were given import licenses that allowed them to purchase US dollars with South Vietnamese currency at a rate far below the market value.