usc:us:22:2431c

text: U.S.C. Title 22 - FOREIGN RELATIONS AND INTERCOURSE 22 U.S.C. United States Code, 2024 Edition Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 32 - FOREIGN ASSISTANCE SUBCHAPTER IV - DEBT REDUCTION FOR DEVELOPING COUNTRIES WITH TROPICAL FORESTS Sec. 2431c - Eligibility for benefits From the U.S. Government Publishing Office, www.gpo.gov §2431c. Eligibility for benefits (a) In general To be eligible for benefits from the Facility under this subchapter, a country shall be a developing country with a tropical forest or coral reef— (1) whose government is democratically elected; (2) whose government has not repeatedly provided support for acts of international terrorism; (3) whose government is not failing to cooperate on international narcotics control matters; (4) whose government (including its military or other security forces) does not engage in a consistent pattern of gross violations of internationally recognized human rights; (5) that has in effect, has received approval for, or is making significant progress toward— (A) an International Monetary Fund standby arrangement, extended Fund arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility, or a Fund monitored program, or is implementing sound macroeconomic policies, unless the President determines that such an arrangement or program could reasonably be expected to have significant adverse social or environmental effect; and (B) as appropriate, structural or sectoral adjustment loans from the International Bank for Reconstruction and Development or the International Development Association, unless the President determines that the resulting adjustment requirements could reasonably be expected to have significant adverse social or environmental effects; (6) if appropriate, has 1 agreed with its commercial bank lenders on a satisfactory financing program, including, as appropriate, debt or debt service reduction; and (7) that has put in place investment reforms, as evidenced by the conclusion of a bilateral investment treaty with the United States, implementation of an investment sector loan with the Inter-American Development Bank, World Bank-supported investment reforms, or other measures, as appropriate. (b) Eligibility determinations (1) In general Consistent with subsection (a), the President shall determine whether a country is eligible to receive benefits under this subchapter. (2) Congressional notification The President shall notify the appropriate congressional committees of his intention to designate a country as an eligible country at least 15 days in advance of any formal determination. (Pub. L. 87–195, pt. V, §805, as added Pub. L. 105–214, §1, July 29, 1998, 112 Stat. 887; amended Pub. L. 107–26, §1, Aug. 17, 2001, 115 Stat. 206; Pub. L. 115–440, §5, Jan. 14, 2019, 132 Stat. 5582.) Editorial Notes Prior Provisions A prior section 805 of Pub. L. 87–195, pt. V, enacted a provision set out as a note under former section 2431 of this title prior to repeal by Pub. L. 94–329, title IV, §413(a), June 30, 1976, 90 Stat. 761. Amendments 2019 —Subsec. (a). Pub. L. 115–440, §5(1), substituted "tropical forest or coral reef" for "tropical forest" in introductory provisions. Subsec. (a)(1) to (7). Pub. L. 115–440, §5(2), (3), added pars. (1) to (6), redesignated former par. (2) as (7), and struck out former par. (1) which read as follows: "whose government meets the requirements applicable to Latin American or Caribbean countries under paragraphs (1) through (5) and (7) of section 2430b(a) of this title; and". 2001 —Subsec. (a)(2). Pub. L. 107–26 struck out "major" before "investment reforms,". Executive Documents Delegation of Functions For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. For delegation of functions of President under subsec. (b) of this section, see section 1 of Ex. Ord. No. 13345, July 8, 2004, 69 F.R. 41901, set out as a note under section 1738 of Title 7, Agriculture. 1 So in original. Probably should be preceded by "that".