Page:United States Statutes at Large Volume 75.djvu/467

 75 S T A T. ]

PUBLIC LAW 87-195-SEPT. 4, 1961

427

lie is authorized to enter into ag:reements committing, under the terms and conditions of this title, funds authorized to be appropriated under this title, subject only to the annual appropriation of such funds. (c) Upon conclusion of each such agreement involving funds to be Notification to appropriated, the President shall notify the Foreign Relations and °"^'"*'*Appropriations Committees of the Senate and the Speaker of the House of Representatives of the provisions of such agreement, including the amounts of funds involved and undertakings of the parties thereto, (d) Except as otherwise provided in this part, the United States dollar assets of the corporate entity known as the Development Loan Fund which remain unobligated and not committed for loans repayable in foreign currencies on the date prior to the abolition of such Fund shall be available for use for purposes of this title. SEC. 203. FISCAL PROVISIONS.—All receipts from loans made under and in accordance with this title shall be available for use for the purposes of this title. Such receipts and other funds made available under this title for use for the purposes of this title shall remain available until expended. SEC. 204. DEVELOPMENT LOAN COMMITTEE.—The President shall of^^^°s"b''"*pre°establish an interagency Development Loan Committee, consisting dent, of such officers from such agencies of the United States Government as he may determine, which shall, under the direction of the President, establish standards and criteria for lending operations under this title in accordance with the foreign and financial policies of the United States. Except in the case of officers serving in positions to which they were appointed by the President by and with the advice and consent of the Senate, officers assigned to the Committee shall be so assigned by the President by and with the advice and consent of the Senate. SEC. 205. U S E or THE FACILITIES or THE INTERNATIONAL DEVELOPMENT ASSOCIATION.—If the President determines that it would more

effectively serve the purposes of this title and the policy contained in section 619 (pertaining to newly independent countries), he may, in accordance with the provisions of this title, lend not to exceed 10 per centum of the funds made available for this title to the International Development Association for use pursuant to the International Development Association Act (Public Law 86-565, 74 Stat. 293) and the articles of agreement of the Association.

22 USC 284 note,

TITLE II—DEVELOPMENT GRANTS AND TECHNICAL COOPERATION SEC. „

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211. GENERAL AUTHORITY.— (a) The President is authorized ,

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promotion of economic develop-

to lurnish assistance on such terms and conditions as he may determine ment, in order to promote the economic development of less developed friendly countries and areas, with emphasis upon assisting the development of human resources through such means as programs of technical cooperation and development. I n so doing, the President shall take into account (1) whether the activity gives reasonable promise of contributing to the development of educational or other

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