22 U.S.C. § 2281

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 2281 - "Debt-for-nature exchange" defined

For purpose of this part, the term "debt-for-nature exchange" means the cancellation or redemption of the foreign debt of the government of a country in exchange for-

(1) that government's making available local currencies (including through the issuance of bonds) which are used only for eligible projects involving the conservation or protection of the environment in that country (as described in section 2283 of this title); or

(2) that government's financial resource or policy commitment to take certain specified actions to ensure the restoration, protection, or sustainable use of natural resources within that country; or

(3) a combination of assets and actions under both paragraphs (1) and (2).

22 U.S.C. § 2281

Pub. L. 87-195 pt. I, §461 [471], as added Pub. L. 101-240, title VII, §711, Dec. 19, 1989, 103 Stat. 2521.

EDITORIAL NOTES

REFERENCES IN TEXTSection 2283 of this title, referred to in par. (1), was in the original "section 463", meaning section 463 of Pub. L. 87-195 which has been translated as meaning section 463 of Pub. L. 87-195 relating to eligible projects rather than section 463 of Pub. L. 87-195 relating to the peace process in Central America, which is classified to section 2273 of this title.

CODIFICATIONAnother section 461 of Pub. L. 87-195 is classified to section 2271 of this title.

PRIOR PROVISIONSA prior section 2281, Pub. L. 87-195 pt. I, §471, as added Pub. L. 89-583 pt. I, §110, Sept. 19, 1966, 80 Stat. 802, related to agreements with less developed countries for establishment of Joint Commissions on Rural Development, prior to repeal by Pub. L. 95-424, title VI, §604, Oct. 6, 1978, 92 Stat. 961, effective Oct. 1, 1978.