Page:United States Statutes at Large Volume 102 Part 5.djvu/287

 PUBLIC LAW 100-690—NOV. 18, 1988

102 STAT. 4293

SEC 4703. EXPORT-IMPORT BANK FINANCING FOR SALES OF DEFENSE ARTICLES AND SERVICES FOR ANTI-NARCOTICS PURPOSES.

Section 2(b)(6) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(6)) is amended— (1) by inserting "(A)" before "The Bank"; (2) by striking "paragraph" and inserting in lieu thereof "subparagraph"; and (3) by adding at the end the following new subparagraphs: "(B) Subparagraph (A), and section 32 of the Arms Export Control Act, shall not apply to any sale of defense articles or services if— "(i) the Bank is requested to provide a guarantee or insurance for the sale; "(ii) the President determines that the defense articles or services are being sold primarily for anti-narcotics purposes; "(iii) section 481(h)(5) of the Foreign Assistance Act of 1961 does not apply with respect to the purchasing country; "(iv) the P r ^ i d e n t determines, in accordance with subparagraph (C), that the sale is in the national interest of the United States; "(v) the Bank determines that, notwithstanding the provision of a guarantee or insurance for the sale, not more than 5 percent of the guarantee and insurance authority available to the Bank in any fiscal year will be used by the Bank to support the sale of defense articles and services; and "(vi) the sale is made on or before September 30, 1990. "(C) In determining whether a sale of defense articles or President of U.S. services would be in the national interest of the United States, the President shall take into account whether the sale would— "(i) be consistent with the anti-narcotics policy of the United States; "(ii) involve the end use of a defense article or service in a major illicit drug producing or major drug-transit country (as defined in section 481(i) of the Foreign Assistance Act of 1961); and "(iii) be made to a country with a democratic form of government. "(D)(i) The Board shall not give approval to guarantee or insure a sale of defense articles or services unless— "(I) the President determines, in accordance with subparagraph (C), that it is in the national interest of the United States for the Bank to provide such guarantee or insurance; and "(n) such determination has been reported to the Speaker and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, and to the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate, not less than 25 days or continuous session of the Congress before the date of such approval. "(ii) For purposes of clause (i), continuity of a session of the Coi^ress shall be considered as broken only by an adjournment of the Congress sine die, and the days on which either House is not in session because of an adjournment of more than 3 days to

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