§ 1738b. — Eligibility for benefits under Facility.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC1738b]
TITLE 7--AGRICULTURE
CHAPTER 41--AGRICULTURAL TRADE DEVELOPMENT AND ASSISTANCE
SUBCHAPTER VI--ENTERPRISE FOR THE AMERICAS INITIATIVE
Sec. 1738b. Eligibility for benefits under Facility
(a) Requirements
To be eligible for benefits from the Facility under this subchapter,
a country shall--
(1) be a Latin American or Caribbean country;
(2) have in effect or have received approval for, or, as
appropriate in exceptional circumstances, be making significant
progress towards the establishment of--
(A) an International Monetary Fund (hereafter referred to in
this subchapter as the ``IMF'') standby arrangement, extended
IMF arrangement, or an arrangement under the structural
adjustment facility or enhanced structural adjustment facility,
or in exceptional circumstances, an IMF-monitored program or its
equivalent; and
(B) as appropriate, structural or sectoral adjustment loans
from the International Bank for Reconstruction and Development
(hereafter referred to in this subchapter as the ``World Bank'')
or the International Development Association (hereafter referred
to in this subchapter as the ``IDA'');
(3) have placed into effect major investment reforms in
conjunction with an Inter-American Development Bank (hereafter
referred to as the ``IDB'') loan or otherwise be implementing, or
making significant progress towards an open investment regime; and
(4) if appropriate, have agreed with its commercial bank lenders
on a satisfactory financing program, including, as appropriate, debt
or debt service reduction.
(b) Eligibility determination
The President shall determine whether a country is an eligible
country for purposes of subsection (a) of this section.
(July 10, 1954, ch. 469, title VI, Sec. 603, as added Pub. L. 101-624,
title XV, Sec. 1512, Nov. 28, 1990, 104 Stat. 3658; amended Pub. L. 102-
237, title III, Sec. 302, Dec. 13, 1991, 105 Stat. 1855.)
Amendments
1991--Subsec. (a)(3). Pub. L. 102-237 inserted hyphen between
``Inter'' and ``American''.
Delegation of Functions
Functions of President under this section delegated to Secretary of
the Treasury by section 1 of Ex. Ord. No. 12757, Mar. 19, 1991, 56 F.R.
12107, set out as a note under section 1738 of this title.
