22 USC 2213 - United States Microfinance Loan Facility

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

§ 2213.

United States Microfinance Loan Facility

(a)

Establishment

(b)

Disbursements

(1)

In general

The Administrator shall make disbursements from the Facility to United States-supported financial intermediaries to prevent the bankruptcy of such institutions caused by—

(A)

natural disasters;

(B)

national wars or civil conflict; or

(C)

national financial crisis or other short-term financial movements that threaten the long-term development of United States-supported financial intermediaries.

(2)

Form of assistance

(3)

Congressional notification procedures

(c)

General provisions

(1)

Policy provisions

(2)

Default and procurement provisions

(A)

Default provision

(B)

Procurement provision

(3)

Terms and conditions of credit assistance

(A)

In general

(B)

Limitation on principal amount of financing

(C)

Exception

(4)

Full faith and credit

(d)

Funding

(1)

Allocation of funds

Of the amounts made available to carry out subchapter I of this chapter for each of the fiscal years 2005 through 2009, such sums as may be necessary may be made available for—

(A)

the subsidy cost, as defined in section 661a(5) of title 2, to carry out this section; and

(B)

the administrative costs to carry out this section.

(2)

Relation to other funding

(Pub. L. 87–195, pt. I, § 257, formerly § 132, as added Pub. L. 106–309, title I, § 107(a), Oct. 17, 2000, 114 Stat. 1086; renumbered § 257 and amended Pub. L. 108–484, § 5(a), (b), (c)(2), Dec. 23, 2004, 118 Stat. 3927; Pub. L. 115–428, § 4(g), Jan. 9, 2019, 132 Stat. 5515.)

cite as: 22 USC 2213