(a) Interest Each loan made pursuant to this chapter shall bear interest at the discount or interest rate used at the time the loan is made for water resources planning projects under section
1962d–17 of title
42. Each such loan shall be for such term, as the Secretary deems appropriate, but not in excess of
(1) 10 years (in the case of a loan under section
2702 of this title) or
(2) 30 years (in the case of a loan under section
2703 of this title).