United States Special Resources

22 U.S.C. § 285j

• Title: 22 — Foreign Relations and Intercourse
• Chapter: SUBCHAPTER XIV—ASIAN DEVELOPMENT BANK

Text

(a) Development projects and programs
The United States Special Resources shall be used to finance specific high priority development projects and programs in developing member countries of the Bank with emphasis on such projects and programs in the Southeast Asia region.
(b) Authorized uses
The United States Special Resources shall be used by the Bank only for—
(1) making development loans on terms which may be more flexible and bear less heavily on the balance of payments than those established by the Bank for its ordinary operations; and
(2) providing technical assistance credits on a reimbursable basis.
(c) Eligible goods and services
(1) The United States Special Resources may be expended by the Bank only for procurement in the United States of goods produced in, or services supplied from the United States, except that the United States Governor, in consultation with the National Advisory Council on International Monetary and Financial Policies, may allow eligibility for procurement in other member countries from the United States Special Resources if he determines that such procurement eligibility would materially improve the ability of the Bank to carry out the objectives of its special funds resources and would be compatible with the international financial position of the United States.
(2) The United States Special Resources may be used to pay for administrative expenses arising from the use of the United States Special Resources, but only to the extent such expenses are not covered from the Bank's service fee or income from use of United States Special Resources.
(d) Repayment in dollars
All financing of programs and projects by the Bank from the United States Special Resources shall be repayable to the Bank by the borrowers in United States dollars.

History

(Pub. L. 89–369, §13, as added Pub. L. 92–245, §1, Mar. 10, 1972, 86 Stat. 57.)

Editorial Notes

Executive Documents

Delegation of Functions
Functions of National Advisory Council on International Monetary and Financial Problems delegated to National Advisory Council on International Monetary and Financial Policies, see section 2(a) of Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813, set out as a note under section 286b of this title.