((a)) ** Retention of proceeds** To the extent determined to be appropriate by the Administrator, revenues generated from the sale, under , of agricultural commodities provided under this subchapter shall be deposited into a separate account (that may be interest bearing) in the recipient country to be disbursed for the benefit of such country in accordance with local currency agreements entered into between the recipient country and the Administrator. The Administrator may determine not to deposit such revenues in a separate account if—

((1)) local currencies are to be programmed for specific economic development purposes listed in ; and

((2)) the recipient country programs an equivalent amount of money for such purposes as specified in an agreement entered into by the Administrator and the recipient country.

((b)) ** Ownership and programming of accounts** The proceeds of sales pursuant to shall be the property of the recipient country or the United States, as specified in the applicable agreement. Such proceeds shall be utilized for the benefit of the recipient country, shall be jointly programmed by the Administrator and the government of the recipient country, and shall be disbursed for the benefit of such country in accordance with local currency agreements between the Administrator and that government.section 1727c(2) of this title

((c)) ** Overall development strategy** The Administrator shall consider the local currency proceeds as an integral part of the overall development strategy of the Agency for International Development and the recipient country.