Page:United States Statutes at Large Volume 76.djvu/305

 76 STAT. ]

PUBLIC LAW 87-565-AUG. 1, 1962

insert the following: "in the case of a loan shall exceed $25,000,000 and no other such guaranty". (b) Amend section 222, which relates to general provisions, as follows: (1) In subsection (d) insert ", and out of funds made available pursuant to this title" before the period. (2) Add the following new subsection (f): " (f) There is hereby authorized to be appropriated to the President such amounts, to remain available until expended, as may be necessary from time to time to carry out the purposes of this title." (c) Amend section 224, which relates to housing projects in Latin American countries, as. follows: (1) In subsection (b) strike out "$10,000,000" in the second sentence and substitute "$60,000,000". (2) In subsection (c) strike out "and (e) " and substitute " (e), and (f)".

257

22 USC 2182.

22 USC 2184.

TITLE IV — S U R V E Y S OF INVESTMENTO P P O R T U N I T I E S

SEC. 105. Section 232 of the Foreign Assistance Act of 1961, as amended, which relates to surveys ot investment opportunities, is amended by striking out "1962" and "$5,000,000" and substituting "1963" and "$2,000,000", respectively.

75 Stat. 432.

22 USC 2192.

A L L I A N C E FOR PROGRESS

SEC. 106. Chapter 2 of part I of the Foreign Assistance Act of 1961, as amended, which relates to development assistance, is amended by ^ 22_usc 21612165. adding at the end a new title VI, as follows: iii

TITLE VI — A L L I A N C E FOR PROGRESS

" SEC. 251. GENERAL AUTHORITY,—(a) I t is the sense of the Congress

that the historic, economic, political, and geographic relationships among the American peoples and Republics are unique and of special significance and that the Alliance for Progress offers great hope for the advancement of the welfare of the peoples of the Americas and the strengthening of the relationships among them. I t is further the sense of Congress that vigorous measures by the countries and areas of Latin America to mobilize their own resources for economic development and to adopt reform measures to spread the benefits of economic progress among the people are essential to the success of the Alliance for Progress and to continued significant United States assistance thereunder. The President is authorized to furnish assistance on such terms and conditions as he may determine in order to promote the economic development of countries and areas in Latin America. "(b) Assistance furnished under this title shall be directed toward the development of human as well as economic resources. I n furnishing assistance under this title, the President shall take into account (1) the principles of the Act of Bogota and the Charter of Punta del Este, and in particular the extent to which the recipient country or area is showing a responsiveness to the vital economic, political, and social concerns of its people and demonstrating a clear determination to take effective self-help measures; (2) the economic and technical soundness of the activity to be-financed; (3) the consistency of the activity with, and its relationship to, other development activities being undertaken or planned, and its contribution to realizable longrange objectives; and (4) the possible effects upon the United States economy, with special reference to areas of substantial labor surplus, of the assistance involved. I n making loans under this title from

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