12 U.S.C. § 635q : US Code - Section 635Q: Establishment of tied aid credit program in United States Export-Import Bank

Search 12 U.S.C. § 635q : US Code - Section 635Q: Establishment of tied aid credit program in United States Export-Import Bank

(a) Establishment and elements of program; cooperation with Trade
and Development Agency and private institutions and entities
(1) The Chairman of the Export-Import Bank of the United States
shall establish, within the Export-Import Bank of the United
States, a program of tied aid credits for United States exports.
(2) The program shall be carried out in cooperation with the
Trade and Development Agency and with private financial
institutions or entities, as appropriate.
(3) The program may include -
(A) the combined use of the credits, loans, or guarantees
offered by the Export-Import Bank of the United States with
concessional financing or grants made available under section
635r(d) of this title, by methods including the blending of the
financing of, or parallel financing by, the Bank and the Trade
and Development Agency; and
(B) the combined use of credits, loans, or guarantees offered
by the Bank, with financing offered by private financial
institutions or entities, by methods including the blending of
the financing of, or parallel financing by, the Bank and private
institutions or entities.
(b) Purpose of program
The purpose of the tied aid credit program under this section is
to offer or arrange for financing for the export of United States
goods and services which is substantially as concessional as
foreign financing for which there is reasonable proof that such
foreign financing is being offered to, or arranged for, a bona fide
foreign competitor for a United States export sale.
(c) Fund
The Chairman of the Bank is authorized to establish a fund, as
necessary, for carrying out the tied aid credit program described
in this section.
(d) Availability of concessional financing or grants
Concessional financing or grants made available under section
635r(d) of this title for the purposes of the mixed financing
program established under this section shall be made available in
accordance with the provisions of section 635r(c) of this title.