With the approval of the President, the head of an executive agency may delegate or otherwise arrange to have another executive agency carry out or supervise a project or class of projects jointly financed under this chapter. A delegation—
((1)) shall be made under conditions ensuring that duties and powers delegated are exercised consistent with law; and
((2)) may not relieve the head of an executive agency of responsibility for the proper and efficient management of a project for which the agency provides assistance.