H. R. 1105—348 
substantial injury to United States producers of the same, similar, 
or competing commodity: Provided, That such prohibition shall not 
apply to the Export-Import Bank if in the judgment of its Board 
of Directors the benefits to industry and employment in the United 
States are likely to outweigh the injury to United States producers 
of the same, similar, or competing commodity, and the Chairman 
of the Board so notifies the Committees on Appropriations. 
(b) None of the funds appropriated by this or any other Act 
to carry out chapter 1 of part I of the Foreign Assistance Act 
of 1961 shall be available for any testing or breeding feasibility 
study, variety improvement or introduction, consultancy, publica-
tion, conference, or training in connection with the growth or 
production in a foreign country of an agricultural commodity for 
export which would compete with a similar commodity grown or 
produced in the United States: Provided, That this subsection shall 
not prohibit— 
(1) activities designed to increase food security in devel-
oping countries where such activities will not have a significant 
impact on the export of agricultural commodities of the United 
States; or 
(2) research activities intended primarily to benefit Amer-
ican producers. 
(c) The Secretary of the Treasury shall instruct the United 
States Executive Directors of the International Bank for Reconstruc-
tion and Development, the International Development Association, 
the International Finance Corporation, the Inter-American Develop-
ment Bank, the International Monetary Fund, the Asian Develop-
ment Bank, the Inter-American Investment Corporation, the North 
American Development Bank, the European Bank for Reconstruc-
tion and Development, the African Development Bank, and the 
African Development Fund to use the voice and vote of the United 
States to oppose any assistance by these institutions, using funds 
appropriated or made available pursuant to titles III through VI 
of this Act, for the production or extraction of any commodity 
or mineral for export, if it is in surplus on world markets and 
if the assistance will cause substantial injury to United States 
producers of the same, similar, or competing commodity. 
SEPARATE ACCOUNTS 
SEC. 7027. (a) SEPARATE ACCOUNTS FOR LOCAL CURRENCIES.— 
(1) If assistance is furnished to the government of a foreign 
country under chapters 1 and 10 of part I or chapter 4 of 
part II of the Foreign Assistance Act of 1961 under agreements 
which result in the generation of local currencies of that 
country, the Administrator of the United States Agency for 
International Development shall— 
(A) require that local currencies be deposited in a 
separate account established by that government; 
(B) enter into an agreement with that government 
which sets forth— 
(i) the amount of the local currencies to be gen-
erated; and 
(ii) the terms and conditions under which the cur-
rencies so deposited may be utilized, consistent with 
this section; and
H. R. 1105—349 
(C) establish by agreement with that government the 
responsibilities of the United States Agency for Inter-
national Development and that government to monitor and 
account for deposits into and disbursements from the sepa-
rate account. 
(2) USES OF LOCAL CURRENCIES.—As may be agreed upon 
with the foreign government, local currencies deposited in a 
separate account pursuant to subsection (a), or an equivalent 
amount of local currencies, shall be used only— 
(A) to carry out chapter 1 or 10 of part I or chapter 
4 of part II (as the case may be), for such purposes as— 
(i) project and sector assistance activities; or 
(ii) debt and deficit financing; or 
(B) for the administrative requirements of the United 
States Government. 
(3) PROGRAMMING
ACCOUNTABILITY.—The United States 
Agency for International Development shall take all necessary 
steps to ensure that the equivalent of the local currencies 
disbursed pursuant to subsection (a)(2)(A) from the separate 
account established pursuant to subsection (a)(1) are used for 
the purposes agreed upon pursuant to subsection (a)(2). 
(4) TERMINATION OF ASSISTANCE PROGRAMS.—Upon termi-
nation of assistance to a country under chapter 1 or 10 of 
part I or chapter 4 of part II (as the case may be), any 
unencumbered balances of funds which remain in a separate 
account established pursuant to subsection (a) shall be disposed 
of for such purposes as may be agreed to by the government 
of that country and the United States Government. 
(5) REPORTING REQUIREMENT.—The Administrator of the 
United States Agency for International Development shall 
report on an annual basis as part of the justification documents 
submitted to the Committees on Appropriations on the use 
of local currencies for the administrative requirements of the 
United States Government as authorized in subsection (a)(2)(B), 
and such report shall include the amount of local currency 
(and United States dollar equivalent) used and/or to be used 
for such purpose in each applicable country. 
(b) SEPARATE ACCOUNTS FOR CASH TRANSFERS.— 
(1) If assistance is made available to the government of 
a foreign country, under chapter 1 or 10 of part I or chapter 
4 of part II of the Foreign Assistance Act of 1961, as cash 
transfer assistance or as nonproject sector assistance, that 
country shall be required to maintain such funds in a separate 
account and not commingle them with any other funds. 
(2) APPLICABILITY
OF
OTHER
PROVISIONS
OF
LAW.—Such 
funds may be obligated and expended notwithstanding provi-
sions of law which are inconsistent with the nature of this 
assistance including provisions which are referenced in the 
Joint Explanatory Statement of the Committee of Conference 
accompanying House Joint Resolution 648 (House Report No. 
98–1159). 
(3) NOTIFICATION.—At least 15 days prior to obligating 
any such cash transfer or nonproject sector assistance, the 
President shall submit a notification through the regular 
notification procedures of the Committees on Appropriations, 
which shall include a detailed description of how the funds 
proposed to be made available will be used, with a discussion