[Weekly Compilation of Presidential Documents Volume 42, Number 9 (Monday, March 6, 2006)]
[Page 369]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Memorandum on Export-Import Bank Programs for or in Libya

February 28, 2006

 Presidential Determination No. 2006-11

Memorandum for the Secretary of State

Subject: Export-Import Bank Programs for or in Libya

    By the authority vested in me as President by the Constitution and 
laws of the United States of America, including sections 620A and 621 of 
the Foreign Assistance Act of 1961, as amended (22 U.S.C. 2371 and 
2381), section 113 in Division J of the Consolidated Appropriations Act, 
2005 (Public Law 108-447):
    1. I hereby determine that:
(a)         national security interests justify a waiver of the 
            prohibition in subsection (a) of section 620A of the Foreign 
            Assistance Act of 1961 with respect to the provision of 
            assistance under the Export-Import Bank Act of 1945, as 
            amended (12 U.S.C. 635 et seq.), for Libya; and
 (b)        it is important to the national security interests of the 
            United States that direct loans, credits, insurance, and 
            guarantees of the Export-Import Bank or its agents may be 
            made available for or in Libya, notwithstanding section 507 
            or similar provisions in the Foreign Operations, Export 
            Financing, and Related Programs Appropriations Act, 2005 
            (Division D of Public Law 108-447), or prior acts making 
            appropriations for foreign operations, export financing, and 
            related programs.
    2. I hereby waive, through the date that is 24 months from the date 
of this memorandum, the prohibition in subsection (a) of section 620A of 
the Foreign Assistance Act of 1961 with respect to the provision of 
assistance under the Export-Import Bank Act of 1945, as amended, for 
Libya.
    3. The function of the President under subsection (d) of section 
620A of the Foreign Assistance Act of 1961 is assigned to the Secretary 
of State, effective on the date that is 22 months from the date of this 
memorandum, with respect to provision of assistance under the Export-
Import Bank Act of 1945, as amended, for Libya.
    You are authorized and directed to transmit this determination to 
the Congress and publish it in the Federal Register.
                                                George W. Bush