12 USC 635t - Definitions

U.S Code last checked for updates: Nov 22, 2024

§ 635t.

Definitions

For purposes of this subchapter—

(1)

the term “tied aid credit” means credit—

(A)

which is provided for development aid purposes;

(B)

which is tied to the purchase of exports from the country granting the credit;

(C)

which is financed either exclusively from public funds, or, as a mixed credit, partly from public and partly from private funds; and

(D)

which has a grant element, as defined by the Development Assistance Committee of the Organization for Economic Cooperation and Development, greater than zero percent;

(2)

the term “government-mixed credits” means the combined use of credits, insurance, and guarantees offered by the Export-Import Bank of the United States with concessional financing or grants offered by the Agency for International Development to finance exports;

(3)

the term “public-private cofinancing” means the combined use of either official development assistance or official export credit with private commercial credit to finance exports;

(4)

the term “blending of financings” means the use of various combinations of official development assistance, official export credit, and private commercial credit, integrated into a single package with a single set of financial terms, to finance exports;

(5)

the term “parallel financing” means the related use of various combinations of separate lines of official development assistance, official export credits, and private commercial credit, not combined into a single package with a single set of financial terms, to finance exports; and

(6)

the term “Bank” means the Export-Import Bank of the United States.

(Pub. L. 98–181, title I [title VI, § 647], Nov. 30, 1983, 97 Stat. 1265.)

cite as: 12 USC 635t