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counts of the United States Agency for International De-
velopment ‘‘program, project, and activity’’ shall also be 
considered to include central, country, regional, and pro-
gram level funding, either as: (1) justified to the Congress; 
or (2) allocated by the executive branch in accordance with 
a report, to be provided to the Committees on Appropria-
tions within 30 days of the enactment of this Act, as re-
quired by section 653(a) of the Foreign Assistance Act 
of 1961. 
AUTHORITIES FOR THE PEACE CORPS, INTER-AMERICAN 
FOUNDATION AND AFRICAN DEVELOPMENT FOUNDATION 
SEC. 7025. Unless expressly provided to the contrary, 
provisions of this or any other Act, including provisions 
contained in prior Acts authorizing or making appropria-
tions for the Department of State, foreign operations, and 
related programs, shall not be construed to prohibit activi-
ties authorized by or conducted under the Peace Corps 
Act, the Inter-American Foundation Act or the African 
Development Foundation Act. The agency shall promptly 
report to the Committees on Appropriations whenever it 
is conducting activities or is proposing to conduct activi-
ties in a country for which assistance is prohibited. 
COMMERCE, TRADE AND SURPLUS COMMODITIES 
SEC. 7026. (a) None of the funds appropriated or 
made available pursuant to titles III through VI of this 
Act for direct assistance and none of the funds otherwise 
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made available to the Export-Import Bank and the Over-
seas Private Investment Corporation shall be obligated or 
expended to finance any loan, any assistance or any other 
financial commitments for establishing or expanding pro-
duction of any commodity for export by any country other 
than the United States, if the commodity is likely to be 
in surplus on world markets at the time the resulting pro-
ductive capacity is expected to become operative and if the 
assistance will cause substantial injury to United States 
producers of the same, similar, or competing commodity: 
Provided, That such prohibition shall not apply to the Ex-
port-Import Bank if in the judgment of its Board of Direc-
tors 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 com-
modity, 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 intro-
duction, consultancy, publication, 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 pro-
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duced in the United States: Provided, That this subsection 
shall not prohibit— 
(1) activities designed to increase food security 
in developing countries where such activities will not 
have a significant impact on the export of agricul-
tural commodities of the United States; or 
(2) research activities intended primarily to 
benefit American producers. 
(c) The Secretary of the Treasury shall instruct the 
United States Executive Directors of the International 
Bank for Reconstruction and Development, the Inter-
national Development Association, the International Fi-
nance Corporation, the Inter-American Development 
Bank, the International Monetary Fund, the Asian Devel-
opment Bank, the Inter-American Investment Corpora-
tion, the North American Development Bank, the Euro-
pean Bank for Reconstruction and Development, the Afri-
can 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 substan-
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HR 1105 PCS 
tial 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 depos-
ited in a separate account established by that 
government; 
(B) enter into an agreement with that gov-
ernment which sets forth— 
(i) the amount of the local currencies 
to be generated; and 
(ii) the terms and conditions under 
which the currencies so deposited may be 
utilized, consistent with this section; and 
(C) establish by agreement with that gov-
ernment the responsibilities of the United 
States Agency for International Development 
and that government to monitor and account 
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for deposits into and disbursements from the 
separate account. 
(2) USES OF LOCAL CURRENCIES.—As may be 
agreed upon with the foreign government, local cur-
rencies deposited in a separate account pursuant to 
subsection (a), or an equivalent amount of local cur-
rencies, 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 activi-
ties; 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
PRO-
GRAMS.—Upon termination of assistance to a coun-
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