---
kind: "section"
citation: "22 C.F.R. § 239.11"
title: "22"
number: "239.11"
heading: "Subrogation of USAID."
url: "https://uscodex.org/cfr/22/239.11"
---

# §239.11. Subrogation of USAID.


In the event of payment by USAID to a Noteholder under the Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.


## Notes

### Authority

Authority: Section 7034(o) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2016 (Div. K, Pub. L. 114-113)

### Source

Source: 81 FR 50618, Aug. 2, 2016, unless otherwise noted.