§ 2430b. — Eligibility for benefits.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC2430b]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 32--FOREIGN ASSISTANCE
SUBCHAPTER III-A--ENTERPRISE FOR THE AMERICAS INITIATIVE
Sec. 2430b. Eligibility for benefits
(a) Requirements
To be eligible for benefits from the Facility under this subchapter,
a country must be a Latin American or Caribbean country--
(1) whose government is democratically elected;
(2) whose government has not repeatedly provided support for
acts of international terrorism;
(3) whose government is not failing to cooperate on
international narcotics control matters;
(4) whose government (including its military or other security
forces) does not engage in a consistent pattern of gross violations
of internationally recognized human rights;
(5) that has in effect, has received approval for, or, as
appropriate in exceptional circumstances, is making significant
progress toward--
(A) an International Monetary Fund standby arrangement,
extended Fund arrangement, or an arrangement under the
structural adjustment facility or enhanced structural adjustment
facility, or in exceptional circumstances, a Fund monitored
program or its equivalent, unless the President determines
(after consultation with the Enterprise for the Americas Board)
that such an arrangement or program (or its equivalent) could
reasonably be expected to have significant adverse social or
environmental effects; and
(B) as appropriate, structural or sectoral adjustment loans
from the International Bank for Reconstruction and Development
or the International Development Association, unless the
President determines (after consultation with the Enterprise for
the Americas Board) that the resulting adjustment requirements
could reasonably be expected to have significant adverse social
or environmental effects;
(6) has put in place major investment reforms in conjunction
with an Inter-American Development Bank loan or otherwise is
implementing, or is making significant progress toward, an open
investment regime; and
(7) if appropriate, has agreed with its commercial bank lenders
on a satisfactory financing program, including, as appropriate, debt
or debt service reduction.
(b) Eligibility determinations
Consistent with subsection (a) of this section, the President shall
determine whether a country is eligible to receive benefits under this
subchapter. The President shall notify the appropriate congressional
committees of his intention to designate a country as an eligible
country at least 15 days in advance of any formal determination.
(Pub. L. 87-195, pt. IV, Sec. 703, as added Pub. L. 102-549, title VI,
Sec. 602(a), Oct. 28, 1992, 106 Stat. 3664.)
Prior Provisions
A prior section 703 of Pub. L. 87-195, pt. IV, Sept. 4, 1961, 75
Stat. 463, amended section 1613d of this title and enacted provisions
set out as a note under section 1613d of this title, prior to repeal by
Pub. L. 87-565, pt. IV, Sec. 401, Aug. 1, 1962, 76 Stat. 263, except
insofar as section 703 affected section 1613d.
Delegation of Functions
For delegation of functions of President under this section, see Ex.
Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a
note under section 2381 of this title.
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 Title 7, Agriculture.
Section Referred to in Other Sections
This section is referred to in sections 2430a, 2430g, 2431c of this
title.
