---
kind: "section"
citation: "22 U.S.C. § 2430e"
title: "22"
title_heading: "Foreign Relations and Intercourse"
number: "2430e"
heading: "Interest on new obligations"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/22/2430e"
units:
  - "Chapter 32 — Foreign Assistance"
  - "Subchapter III–A — Enterprise for the Americas Initiative"
---

# §2430e. Interest on new obligations

- (a) **Rate of interest—** New obligations issued by a [beneficiary country](/usc/22/2430a.md?p=5) pursuant to [section 2430c(b) of this title](/usc/22/2430c.md?p=b) shall bear interest at a concessional rate.
- (b) **Currency of payment; deposits—**
  - (1) **Local currency—** If the [beneficiary country](/usc/22/2430a.md?p=5) has entered into an [Americas Framework Agreement](/usc/22/2430a.md?p=2), interest shall be paid in the local currency of the [beneficiary country](/usc/22/2430a.md?p=5) and deposited in an [Americas Fund](/usc/22/2430a.md?p=3). Such interest shall be the property of the [beneficiary country](/usc/22/2430a.md?p=5), until such time as it is disbursed pursuant to [section 2430f(d) of this title](/usc/22/2430f.md?p=d). Such local currencies shall be used for the purposes specified in the [Americas Framework Agreement](/usc/22/2430a.md?p=2).
  - (2) **United States dollars—** If the [beneficiary country](/usc/22/2430a.md?p=5) has not entered into an [Americas Framework Agreement](/usc/22/2430a.md?p=2), interest shall be paid in United States dollars and deposited in the United States Government account established for interest payments of the obligations for which the new obligations were exchanged.
- (c) **Interest already paid—** If a [beneficiary country](/usc/22/2430a.md?p=5) enters into an [Americas Framework Agreement](/usc/22/2430a.md?p=2) subsequent to the date on which interest first became due on the newly issued obligation, any interest already paid on such new obligation shall not be redeposited into the [Americas Fund](/usc/22/2430a.md?p=3) established for that country.

## Source credit

(Pub. L. 87–195, pt. IV, § 706, as added Pub. L. 102–549, title VI, § 602(a), Oct. 28, 1992, 106 Stat. 3666.)

## Notes

### Editorial Notes

### Prior Provisions

A prior section 706 of Pub. L. 87–195, pt. IV, Sept. 4, 1961, 75 Stat. 463, enacted section 1945 of this title, prior to repeal by Pub. L. 87–565, pt. IV, § 401, Aug. 1, 1962, 76 Stat. 263, except insofar as section 706 affected section 1945.