Page:United States Statutes at Large Volume 106 Part 4.djvu/924

 106 STAT. 3660 PUBLIC LAW 102-549—OCT. 28, 1992 President. 22 USC 2421a note. 22 USC 2421d. President. 22 USC 2421a note. 22 USC 2421e. SEC. 305. REPORTS TO CONGRESS ON CAPITAL PROJECTS. Not later than May 1, 1993, the President shall submit to the Congress a report describing— (1) the extent to which United States Government resources have been expended specifically to support the projects described in this title in developing countries and countries making the transition from nonmarket to market economies; (2) the extent to which the activities of the United States Government have been coordinated pursuant to section 304; and (3) the extent to which United States Government capital projects and tied-aid credit programs have affected United States exports. SEC. 306. FUNDING FOR CAPITAL PROJECTS. (a) FUNDING LEVEL. —The Congress strongly urges the President to use at least $650,000,000 for fiscal year 1993 and at least $700,000,000 for fiscal year 1994 of the total amounts made available for assistance under chapter 4 of part II of the Foreign Assistance Act of 1961 (relating to the economic support fund), assistance under the Support for East European Democracy (SEED) Act of 1989, assistance under the Freedom for Russia and Emerging Eurasian Democracies and Open Markets Support Act of 1992, and assistance under the Multilateral Assistance Initiative for the Philippines, for grants for developmentally sound capital projects. Such grants may be combined with financing offered by private financial entities or other entities. (b) DEVELOPMENT ASSISTANCE CAPITAL PROJECTS. —Funds appropriated to carry out chapter 1 or chapter 10 of part I of the Foreign Assistance Act of 1961 (relating to development assistance and the Development Fund for Africa) may not be used for capital projects that do not meet the criteria contained in section 303 of this Act. This subsection does not apply with respect to capital projects for which funds have been obligated or expended before the date of the enactment of this Act. SEC. 307. REPORT ON THE FEASIBILITY OF AID CREDIT GUARANTEES TO FINANCE CAPITAL PROJECTS. Not later than May 1, 1993, the President shall submit to the Committee on Foreign Affairs and the Committee on Appropriations of the House of Representatives and the Committee on Foreign Relations and the Committee on Appropriations of the Senate a report on the feasibility of allowing AID to offer credit guarantees for the financing of capital projects. SEC. 308. DEFINITIONS. For piuposes of this title— (1) the term "AID" means the Agency for International Development; and (2) the term "capital project" means a project involving the construction, expansion, alteration of, or the acquisition of equipment for, a physical facility or physical infrastructure, including related engineering design (concept and detail) and other services, the procurement of equipment (including any related services), and feasibility studies or similar engineering and economic services.

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