§ 635p. — Presidential mandate to negotiate; objectives.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC635p]
TITLE 12--BANKS AND BANKING
CHAPTER 6A--EXPORT-IMPORT BANK OF THE UNITED STATES
SUBCHAPTER III--TIED AID CREDIT EXPORT SUBSIDIES
Sec. 635p. Presidential mandate to negotiate; objectives
The President shall vigorously pursue negotiations to limit and set
rules for the use of tied aid for exports. The negotiating objectives of
the United States should include reaching agreements--
(1) to define the various forms of tied aid credit, particularly
mixed credits under the Arrangement on Guidelines for Officially
Supported Export Credits established through the Organization for
Economic Cooperation and Development (hereinafter in this subchapter
referred to as the ``Arrangement'');
(2) to phase out the use of government-mixed credits by a date
certain;
(3) to set rules governing the use of public-private
cofinancing, or other forms of mixed financing, which may have the
same result as government-mixed credits of drawing on concessional
development assistance to produce subsidized export financing;
(4) to raise the threshold for notification of the use of tied
aid credit to a 50 per centum level of concessionality;
(5) to improve notification procedures so that advance
notification must be given on all uses of tied aid credit; and
(6) to prohibit the use of tied aid credit for production
facilities for goods which are in structural oversupply in the
world.
(Pub. L. 98-181, title VI, Sec. 643, Nov. 30, 1983, 97 Stat. 1263.)
