Page:United States Statutes at Large Volume 79.djvu/694

 654

PUBLIC LAW 89-171-SEPT. 6, 1965

[79 STAT.

advancement of African regional development institutions, including the African Development Bank, with the view toward promoting African economic development." TITLE II—^TECHNICAL COOPERATION AND DEVELOPMENT GRANTS

75 Stat. 428; ^'22 USC°2m. 22 USC 2174.

SEC. 103. Title II of chapter 2 of part I of the Foreign Assistance Act of 1961, as amended, which relates to technical cooperation and development grants, is amended as follows: (|a) Amend section 212, which relates to authorization, by striking out "1965" and "$215,000,000" and substituting "1966" and "$210,000,000", respectively. Qy"^ Amend section 214, which relates to American schools and hospitals abroad, as follows: (1) Amend subsection (b) by striking out "treatment, education," and substituting "education". (2) Amend subsection (c) by striking out "1965, $18,000,000" and substituting "1966, $7,000,000". TITLE III—INVESTMENT GUARANTIES

22 USC 2181.

22 USC 2182,

22 USC 2183.

"Eligible U.S. inves ors.

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: ^^^ Amend section 221(b), which relates to general authority, as follows: (1) Amend the introductory clause to read as follows: " (b) The President may issue guaranties to eligible United States investors—". (2) I n paragraph (1), strike out "$2,500,000,000" and substitute "$5,000,000,000". (3) Amend paragraph (2) as follows: (A) I n the first proviso, strike out ", and no such guaranty in the case of a loan shall exceed $25,000,000 and no other such guaranty shall exceed $10,000,000". (B) I n the third proviso, immediately after "$300,000,000" insert the following: ", and guaranties issued under this paragraph (2) for other than housing projects similar to those insured by the Federal Housing Administration, shall not exceed $175,000,000". (C) I n the fourth proviso, strike out "1966" and substitute "1967". (b) Amend section 221(c), which relates to general authority, as follows: (1) Strike out "actual earnings or profits" and substitute "earnings or profits actually accrued". (2) Immediately after '^guaranty" the third time it appears, insert "of an equity investment". ^Q^ Amend section 222(b), which relates to general provisions, by inserting after "(exclusive of informational media guaranties)," the words "and to pay the costs of investigating and adjusting (including costs of arbitration) claims under such guaranties,". ((J) Amend section 223, which relates to definitions, as follows: (1) I n subsection (a), strike out "and" at the end thereof and in subsection (b) strike out the period and substitute "; and". (2) Add the following new subsection (c): «(c) the term 'eligible United States investors' means United States citizpiis, or corporations, partnerships, or other associations created under the laws of the United States or any State or

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