View all text of Subchapter II [§ 1701 - § 1715]
§ 1702. Agreements regarding eligible countries and private entities
(a) Priority
In selecting agreements to be entered into under this subchapter, the Secretary shall give priority to agreements providing for the export of agricultural commodities to developing countries that—
(1) are undertaking measures for economic development purposes to improve food security and agricultural development, alleviate poverty, and promote broad-based equitable and sustainable development; and
(2) demonstrate the greatest need for food.
(b) Private entities
An agreement entered into under this subchapter with a private entity shall require such security, or such other provisions as the Secretary determines necessary, to provide reasonable and adequate assurance of repayment of the financing extended to the private entity.
(July 10, 1954, ch. 469, title I, § 102, 68 Stat. 455; Apr. 25, 1955, ch. 27, 69 Stat. 44; Pub. L. 88–638, § 1(3), Oct. 8, 1964, 78 Stat. 1035; Pub. L. 89–808, § 2(B), Nov. 11, 1966, 80 Stat. 1526; Pub. L. 90–436, § 9, July 29, 1968, 82 Stat. 451; Pub. L. 95–88, title II, § 201(a), Aug. 3, 1977, 91 Stat. 545; Pub. L. 95–113, title XII, § 1201, Sept. 29, 1977, 91 Stat. 955; Pub. L. 101–624, title XV, § 1512, Nov. 28, 1990, 104 Stat. 3634; Pub. L. 104–127, title II, § 203, Apr. 4, 1996, 110 Stat. 951; Pub. L. 110–246, title III, § 3005, June 18, 2008, 122 Stat. 1822.)