22 CFR § 238.11 - Subrogation of USAID.

---
identifier: "/us/cfr/t22/s238.11"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "22 CFR § 238.11 - Subrogation of USAID."
title_number: 22
title_name: "Foreign Relations"
section_number: "238.11"
section_name: "Subrogation of USAID."
chapter_name: "AGENCY FOR INTERNATIONAL DEVELOPMENT"
part_number: "238"
part_name: "HASHEMITE KINGDOM OF JORDAN LOAN GUARANTEES ISSUED UNDER THE DEPARTMENT OF STATE, FOREIGN OPERATIONS, AND RELATED PROGRAMS APPROPRIATIONS ACT, 2015—STANDARD TERMS AND CONDITIONS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "Sec. 7034(r) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (Div. J, Pub. L. 113-235)."
regulatory_source: "80 FR 36237, June 24, 2015, unless otherwise noted."
cfr_part: "238"
---


# 238.11 Subrogation of USAID.

In the event of payment by USAID to a Noteholder under the Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.