§2431e. Reduction of debt owed to United States as result of credits extended under title I of Food for Peace Act — Inbound Citations
22 U.S.C. § 2431e
Cited by 5 provisions in release 119-102.
Citations to 22 U.S.C. § 2431e as a whole
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(d) For the cost (as defined in section 661a(5) of title 2) for the reduction of any debt pursuant to this section or section 2431e of this title, there are authorized to be appropriated to the President the following:(1) $50,000,000 for fiscal year 2002.(2) $75,000,000 for fiscal year 2003.(3) $100,000,000 for fiscal year 2004.(4) $20,000,000 for fiscal year 2005.(5) $25,000,000 for fiscal year 2006.(6) $30,000,000 for fiscal year 2007.(7) $20,000,000 for fiscal year 2019.(8) $20,000,000 for fiscal year 2020.(9) $20,000,000 for fiscal year 2023.(10) $20,000,000 for fiscal year 2024.(11) $20,000,000 for fiscal year 2025.(12) $20,000,000 for fiscal year 2026.(13) $20,000,000 for fiscal year 2027.
Citations to §2431e(a)(1)
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(3) The term “beneficiary country” means an eligible country with respect to which the authority of section 2431d(a)(1) of this title, section 2431e(a)(1) of this title, or paragraph (1) or (2) of section 2431f(a) of this title is exercised.
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(A) Notwithstanding any other provision of law, the President may, in accordance with this section, sell to any eligible purchaser described in subparagraph (B) any concessional loans described in section 2431d(a)(1) of this title or any credits described in section 2431e(a)(1) of this title, or on receipt of payment from an eligible purchaser described in subparagraph (B), reduce or cancel such loans (or credits) or portion thereof, only for the purpose of facilitating a debt-for-nature swap to support eligible activities described in section 2431g(d) of this title.
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(2) Notwithstanding any other provision of law, the President may, in accordance with this section, sell to any eligible country any concessional loans described in section 2431d(a)(1) of this title or any credits described in section 2431e(a)(1) of this title, or on receipt of payment from an eligible country, reduce or cancel such loans (or credits) or portion thereof, only for the purpose of facilitating 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 the lessor of 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 eligible activities described in section 2431g(d) of this title.
Citations to §2431e(a)(2)
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(D) For the cost (as defined in section 661a(5) of title 2) for the reduction of any debt pursuant to subparagraph (A), amounts authorized to be appropriated under sections 2431d(a)(2), 2431e(a)(2), and 2431d(d) of this title shall be made available for such reduction of debt pursuant to subparagraph (A).