; (B) enter into an agreement with that government which sets forth— (i) the amount of the local currencies to be generated; and (ii) the terms and conditions under which the currencies so deposited may be utilized, consistent with this section; and (C) establish by agreement with that government the responsibilities of USAID and that government to monitor and account for deposits into and disbursements from the separate account. (2) Uses of local currencies As may be agreed upon with the foreign government, local currencies deposited in a separate account pursuant to subsection (a), or an equivalent amount of local currencies, shall be used only— (A) to carry out chapter 1 or 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961 (as the case may be), for such purposes as— (i) project and sector assistance activities; or (ii) debt and deficit financing