1781.1—Purpose.
         This part prescribes the policies and procedures for making:
    
    
        
        (a) 
         Watershed (WS) loans and Watershed (WS) advances for works of improvement in a watershed project; and
    
    
        
        (b) 
         Resource Conservation and Development (RCD) loans for measures or projects needed to implement the RCD area plan to achieve objectives in an RCD area.