Page:United States Statutes at Large Volume 81.djvu/484

 450

PUBLIC LAW 90-137-NOV. 14, 1967

„„77 Stat 381; 2rusc 2174. 80 Stat. 798.

(c) Section 214, -which relates to American schools and hospitals abroad, is amended as follows: (1) I n subsection (c) strike out "1967, $10,989,000" and substitute "1968, $14,000,000". (£) I n subsection (d) strike out "1967, $1,000,000" and substitute "1968, $2,986,000". (d) A t the end of such title II of chapter 2, add the following new section: "SEC.

75 Stat. 442. 22 USC 2359.

218. F I S H

AND OTHER PROTEIN CONCENTRATES.—(a)

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The

President is authorized to conduct a program designed to demonstrate the potential and to encourage the use of fish and other protein concentrates as a practical means of reducing nutritional deficiencies in less developed countries and areas. This program shall include— "(1) studies and activities relating to food technology; "(2) development of suitable marketing techniques; "(3) development of consumer acceptance programs; and "(4) feeding programs designed to demonstrate the nutritional value of fish and other protein concentrates as a diet supplement. I n carrying out his functions under this section, the President shall consult with the National Council on Marine Resources and Engineering Development, appropriate Government agencies and other such technical groups or agencies as may be helpful with such activities. I n accordance with section 601(b) of this Act, the President shall encourage full participation in such program by United States private enterprise. " (b) The President is authorized to use funds made available under this part for the purposes of this section, and is urged to use at least $2,500,000 of such funds for such purposes." TITLE III

8o'stlt°'79^8^^' 22 USC 2181.

[81 STAT.

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: (^) Section 221(b), which relates to general authority for investment guaranties, is amended as follows: (1) I n paragraph (1), amend the proviso by striking out "$7,000,000,000" and substituting "$8,000,000,000". (2) Paragraph (2) is amended to read as follows: " (2) where the President determines such action to be important in the furtherance of the purposes of this title, assuring against loss, due to such risks and upon such terms and conditions as the President may determine, of— " (A) any loan investment for housing projects with appropriate participation by the private investor in the loan risk, " (B) any loan investment for credit unions where the loan investment is made by a credit union, or an association of credit unions, which is an eligible United States investor, or " (C) not to exceed 75 per centum of any other investment: Provided, That guaranties issued under this paragraph (2) shall emphasize economic development projects furthering social progress and the development of small independent business enterprises,: Provided further, That no payment may be made under this paragraph (2) for any loss of equity investment arising out of fraud or misconduct for which the investor is responsible, or for any loss of loan investment arising out of fraud or misrepresentation for which the investor is responsible: Provided further, That the total face amount of the guaranties issued under this paragraph (2) outstanding at any one time shall not exceed $475,000,000, guaranties issued under this paragraph (2) for other

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