163 
HR 2764 PP 
(4) does not engage in a consistent pattern of 
gross violations of internationally recognized human 
rights
(including
its
military
or
other
security 
forces); and 
(5) is not ineligible for assistance because of the 
application of section 527 of the Foreign Relations 
Authorization Act, Fiscal Years 1994 and 1995. 
(d) AVAILABILITY OF FUNDS.—The authority pro-
vided by subsection (a) may be used only with regard to 
the funds appropriated by this Act under the heading 
‘‘DEBT RESTRUCTURING’’. 
(e) CERTAIN PROHIBITIONS INAPPLICABLE.—A re-
duction of debt pursuant to subsection (a) shall not be 
considered assistance for the purposes of any provision of 
law limiting assistance to a country. The authority pro-
vided by subsection (a) may be exercised notwithstanding 
section 620(r) of the Foreign Assistance Act of 1961 or 
section 321 of the International Development and Food 
Assistance Act of 1975. 
AUTHORITY TO ENGAGE IN DEBT BUYBACKS OR SALES 
SEC. 666. (a) LOANS ELIGIBLE FOR SALE, REDUC-
TION, OR CANCELLATION.— 
(1) AUTHORITY TO SELL, REDUCE, OR CANCEL 
CERTAIN LOANS.—Notwithstanding any other provi-
sion of law, the President may, in accordance with 
this section, sell to any eligible purchaser any 
VerDate Aug 31 2005 
00:10 Sep 12, 2007
Jkt 059200
PO 00000
Frm 00163
Fmt 6652
Sfmt 6401
E:\BILLS\H2764.PP
H2764
bajohnson on PROD1PC69 with BILLS
164 
HR 2764 PP 
concessional loan or portion thereof made before 
January 1, 1995, pursuant to the Foreign Assist-
ance Act of 1961, to the government of any eligible 
country as defined in section 702(6) of that Act or 
on receipt of payment from an eligible purchaser, re-
duce or cancel such loan or portion thereof, only for 
the purpose of facilitating— 
(A) debt-for-equity swaps, debt-for-develop-
ment swaps, or debt-for-nature swaps; or 
(B) a debt buyback by an eligible country 
of its own qualified debt, only if the eligible 
country uses an additional amount of the local 
currency of the eligible country, equal to not 
less than 40 percent of the price paid for such 
debt by such eligible country, or the difference 
between the price paid for such debt and the 
face value of such debt, to support activities 
that link conservation and sustainable use of 
natural resources with local community develop-
ment, and child survival and other child devel-
opment, in a manner consistent with sections 
707 through 710 of the Foreign Assistance Act 
of 1961, if the sale, reduction, or cancellation 
would not contravene any term or condition of 
any prior agreement relating to such loan. 
VerDate Aug 31 2005 
00:10 Sep 12, 2007
Jkt 059200
PO 00000
Frm 00164
Fmt 6652
Sfmt 6401
E:\BILLS\H2764.PP
H2764
bajohnson on PROD1PC69 with BILLS
165 
HR 2764 PP 
(2) TERMS AND CONDITIONS.—Notwithstanding 
any other provision of law, the President shall, in ac-
cordance with this section, establish the terms and 
conditions under which loans may be sold, reduced, 
or canceled pursuant to this section. 
(3) ADMINISTRATION.—The Facility, as defined 
in section 702(8) of the Foreign Assistance Act of 
1961, shall notify the administrator of the agency 
primarily responsible for administering part I of the 
Foreign Assistance Act of 1961 of purchasers that 
the President has determined to be eligible, and 
shall direct such agency to carry out the sale, reduc-
tion, or cancellation of a loan pursuant to this sec-
tion. Such agency shall make adjustment in its ac-
counts to reflect the sale, reduction, or cancellation. 
(4) LIMITATION.—The authorities of this sub-
section shall be available only to the extent that ap-
propriations for the cost of the modification, as de-
fined in section 502 of the Congressional Budget Act 
of 1974, are made in advance. 
(b) DEPOSIT OF PROCEEDS.—The proceeds from the 
sale, reduction, or cancellation of any loan sold, reduced, 
or canceled pursuant to this section shall be deposited in 
the United States Government account or accounts estab-
lished for the repayment of such loan. 
VerDate Aug 31 2005 
00:10 Sep 12, 2007
Jkt 059200
PO 00000
Frm 00165
Fmt 6652
Sfmt 6401
E:\BILLS\H2764.PP
H2764
bajohnson on PROD1PC69 with BILLS
166 
HR 2764 PP 
(c) ELIGIBLE PURCHASERS.—A loan may be sold 
pursuant to subsection (a)(1)(A) only to a purchaser who 
presents plans satisfactory to the President for using the 
loan for the purpose of engaging in debt-for-equity swaps, 
debt-for-development swaps, or debt-for-nature swaps. 
(d) DEBTOR CONSULTATIONS.—Before the sale to 
any eligible purchaser, or any reduction or cancellation 
pursuant to this section, of any loan made to an eligible 
country, the President should consult with the country 
concerning the amount of loans to be sold, reduced, or 
canceled and their uses for debt-for-equity swaps, debt- 
for-development swaps, or debt-for-nature swaps. 
(e) AVAILABILITY OF FUNDS.—The authority pro-
vided by subsection (a) may be used only with regard to 
funds appropriated by this Act under the heading ‘‘DEBT 
RESTRUCTURING’’. 
BASIC EDUCATION 
SEC. 667. (a) IN GENERAL.—Of the funds appro-
priated by title III of this Act, not less than $750,000,000 
shall be made available for assistance for developing coun-
tries for basic education. Of this amount, not less than 
$265,000,000 shall be provided and implemented in coun-
tries that have an approved national education plan. 
(b) COORDINATOR.—There shall be established with-
in the Department of State in the immediate office of the 
Secretary of State, a Coordinator of United States Gov-
VerDate Aug 31 2005 
00:10 Sep 12, 2007
Jkt 059200
PO 00000
Frm 00166
Fmt 6652
Sfmt 6401
E:\BILLS\H2764.PP
H2764
bajohnson on PROD1PC69 with BILLS
167 
HR 2764 PP 
ernment activities to provide basic education assistance in 
developing countries (hereinafter in this section referred 
to as the ‘‘Coordinator’’). 
(c) RESPONSIBILITIES.—That this Coordinator shall 
have primary responsibility for the oversight and coordina-
tion of all resources and international activities of the 
United States Government that provide assistance in de-
veloping countries for basic education. The individual serv-
ing as the Coordinator may not hold any other position 
in the Federal Government during the individual’s time 
of service as Coordinator. 
(d) STRATEGY.—The President shall develop a com-
prehensive integrated United States Government strategy 
to provide assistance in developing countries for basic edu-
cation within 90 days of enactment of this Act. 
(e) REPORT TO CONGRESS.—Not later than Sep-
tember 30, 2008, the Secretary of State shall report to 
the Committees on Appropriations on the implementation 
of United States Government assistance programs in de-
veloping countries for basic education. 
(f) Funds appropriated by title II of Public Law 109– 
102 and provided to the Comptroller General pursuant to 
section 567 of that Act shall be available until expended 
and are also available to the Comptroller General to con-
duct further evaluations of basic education programs in 
VerDate Aug 31 2005 
00:10 Sep 12, 2007
Jkt 059200
PO 00000
Frm 00167
Fmt 6652
Sfmt 6401
E:\BILLS\H2764.PP
H2764
bajohnson on PROD1PC69 with BILLS