Page:United States Statutes at Large Volume 76.djvu/304

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PUBLIC LAW 87-565-AUG. 1, 1962

[76 STAX

provided them; and that the President may request the assistance of mternational financial institutions in bringing about the establishment of such missions." CHAPTER 2—DEVELOPMENT ASSISTANCE TITLE I—^DEVELOPMENT LOAN EUND

75 Stat. 426. 22 USC 2161.

SEC. 102. Section 201 of the Foreign Assistance Act of 1961, as amended, which relates to general authority with respect to development loans, is amended by adding at the end thereof the following: "(e) In carrying out this title, the President shall not allocate, reserve, earmarK, commit, or otherwise set aside, funds aggregating in excess of $100,000 for use in any country under this title unless (1) an application for such funds has been received for use in such country together with sufficient information and assurances to indicate reasonably that the funds will be used in an economically and technically sound manner, or (2) the President determines with respect to each such allocation, reservation, earmarking, commitment, or set-aside that it is in the national interest to use such funds pursuant to multilateral plans." TITLE II—DEVELOPMENT GRANTS AND TECHNICAL COOPERATION

75 Stat. 427. 2176."^^^^^^ 22 USC 2171.

SEC. 103. Title II of chapter 2 of part I of the Foreign Assistance Act of 1961, as amended, which relates to development grants and technical cooperation, is amended as follows: (a) In section 211, which relates to general authority, add a new subsection (c) as follows: "(c) Not to exceed $1,000,000 of the funds made available for the purposes of this section in any fiscal year may be used for programs designed to promote the peaceful uses of atomic energy outside the United States and such programs may be carried out only in accordance with the requirements of this section." (b) In section 212, which relates to authorization, strike out "1962" and "$380,000,000" and substitute "1963" and "$300,000,000", respectively. (c) Strike out section 213, which relates to atoms for peace. TITI.E H I

22 USC 2181^^^^' 22 USC 2181.

INVESTMENT GUARANTIES

SEC. 104. Title III of chapter 2 of part I of the Foreign Assistance Act of 1961, as amended, which relates to investment guaranties, is amended as follows: (a) Amend section 221(b) which relates to general authority, as follows: (1) I n paragraph (1) strike out "$1,000,000,000" in the proviso and substitute "$1,300,000,000". (2) In paragraph (2) strike out the words preceding the first proviso and insert in lieu thereof the following: "where the President determines such action to be important to the furtherance of the purposes of this title, assuring against loss of any loan investment for housing projects with appropriate participation by the private investor in the loan risk and in accordance with the foreign and financial policies of the United States, or assuring against loss of not to exceed 75 per centum of any other investment due to such risks as the President may determine, upon such terms and conditions as the President may determine". (3) I n paragraph (2) strike out "$90,000,000" in the third proviso and substitute "$180,000,000", and after the word "guaranty"

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