Marxist-Leninist country
(2) Prohibition on Aid to Marxist-Leninist Countries.— (A) In general .— The Bank in the exercise of its functions shall not guarantee, insure, extend credit, or participate in the extension of credit— (i) in connection with the purchase or lease of any product by a Marxist-Leninist country, or agency or national thereof; or (ii) in connection with the purchase or lease of any product by any other foreign country, or agency or national thereof, if the product to be purchased or leased by such other country, agency, or national is, to the knowledge of the Bank, principally for use in, or sale or lease to, a Marxist-Leninist country. (B) Marxist-Leninist country defined.— (i) In general .— For purposes of this paragraph, the term “Marxist-Leninist country” means any country that maintains a centrally planned economy based on the principles of Marxism-Leninism, or is economically and militarily dependent on any other such country. (ii) Specific countries deemed to be marxist-leninist .— Unless otherwise determined by the President in accordance with subparagraph (C), the following countries are deemed to be Marxist-Leninist countries for purposes of this paragraph: (I) Democratic People’s Republic of Korea. (II) Democratic Republic of Afghanistan. (III) People’s Republic of China. (IV) Republic of Cuba. (V) Socialist Republic of Vietnam. (VI) Tibet. (C) Presidential determination that a country has ceased to be marxist-leninist .— If the President determines that any country on the list contained in subparagraph (B)(ii) has ceased to be a Marxist-Leninist country (within the definition of such term in subparagraph (B)(i)), such country shall not be treated as a Marxist-Leninist country for purposes of this paragraph after the date of such determination, unless the President subsequently determines that such country has again become a Marxist-Leninist country. (D) Presidential determination relating to financing in the national interest.— (i) In general .— Subparagraph (A) shall not apply to guarantees, insurance, or extensions of credit by the Bank to a country, agency, or national described in clause (i) or (ii) of subparagraph (A) (in connection with transactions described in such clauses) if the President determines that such guarantees, insurance, or extensions of credit are in the national interest. (ii) Separate determination for certain transactions .— The President shall make a separate determination under clause (i) for each transaction described in clause (i) or (ii) of subparagraph (A) for which the Bank would extend a loan in an amount equal to or greater than $50,000,000. (iii) Report of clause (i) determinations to congress .— Any determination by the President under clause (i) shall be reported to the Congress not later than the earlier of— (I) the end of the 30-day period beginning on the date of such determination; or (II) the date the Bank takes final action with respect to the first transaction involving the country, agency, or national for which such determination is made after January 4, 1975 , unless a report of a determination with respect to such country, agency, or national was made and reported before January 4, 1975 . (iv) Report of clause (ii) determinations to congress .— Any determination by the President under clause (ii) shall be reported to the Congress not later than the earlier of— (I) the end of the 30-day period beginning on the date of such determination; or (II) the date the Bank takes final action with respect to the transaction for which such determination is made.