§2200. Small business development in less developed friendly countries or areas; encouragement by other Federal departments, etc., of broadened participation by United States small business cooperatives and investors; project funding

The Corporation shall undertake, in cooperation with appropriate departments, agencies, and instrumentalities of the United States as well as private entities and others, to broaden the participation of United States small business, cooperatives, and other small United States investors in the development of small private enterprise in less developed friendly countries or areas. The Corporation shall allocate up to 50 per cent of its annual net income, after making suitable provision for transfers and additions to reserves, to assist and facilitate the development of projects consistent with the provisions of this section. Such funds may be expended, notwithstanding the requirements of section 2191(a) of this title, on such terms and conditions as the Corporation may determine, through loans, grants, or other programs authorized by section 2194 of this title and section 2194b of this title.

(Pub. L. 87–195, pt. I, §240, as added Pub. L. 95–268, §9, Apr. 24, 1978, 92 Stat. 216 ; amended Pub. L. 99–204, §9(b)(3), Dec. 23, 1985, 99 Stat. 1673 .)

Prior Provisions

A prior section 2200, Pub. L. 87–195, pt. I, §240, as added Pub. L. 91–175, pt. I, §105, Dec. 30, 1969, 83 Stat. 817 ; amended Pub. L. 92–226, pt. I, §104(c), Feb. 7, 1972, 86 Stat. 22 ; Pub. L. 93–189, §6(2), Dec. 17, 1973, 87 Stat. 717 ; Pub. L. 93–390, §2(6), Aug. 27, 1974, 88 Stat. 768 , provided for agricultural credit and self-help community development projects in Latin America, prior to repeal by Pub. L. 93–559, §8(b), Dec. 30, 1974, 88 Stat. 1797 . See section 2182a of this title.

Amendments

1985-Pub. L. 99–204 inserted reference to section 2194b of this title.