Page:United States Statutes at Large Volume 86.djvu/63

 86 STAT.]

PUBLIC LAW 92-226-FEB. 7, 1972

21

P A E T I—ECONOMIC A S S I S T A N C E DEVELOPMENT LOAN

FUND

SEC. 101. Title I of chapter 2 of part I of the Foreign Assistance Act of 1961, relating to the Development Loan Fund, is amended as follows: (a) In section 202(a), relating to authorization— (1) strike out "and $350,000,000 for the fiscal year 1971" and insert in lieu thereof "$350,000,000 for the fiscal year 1971, $250,000,000 for the fiscal year 1972, and $250,000,000 for the fiscal year 1973"; and (2) strike out "and June 30, 1971" and insert in lieu thereof "June 30, 1971, June 30, 1972, and June 30, 1973". (b) I n section 203, relating to fiscal provisions, strike out "and for the fiscal year 1971" and insert in lieu thereof ", for the fiscal year 1971, for the fiscal year 1972, and for the fiscal year 1973". (c) In section 209, relating to multilateral and regional programs— (1) strike out subsection (a) and insert in lieu thereof the following: " (a) The Congress recognizes that the planning and administration of development assistance by, or under the sponsorship of the United Nations, multilateral lending institutions, and other multilateral organizations may contribute to the efficiency and effectiveness of that assistance through participation of other donors in the development effort, improved coordination of policies and programs, pooling of knowledge, avoidance of duplication of facilities and manpower, and greater encouragement of self-help performance."; (2) insert at the end thereof the following new subsections: "(c) Notwithstanding any other provision of law, the President should reduce the amounts and numbers of loans made by the United States directly to individual foreign countries with the objective of reducing the total amount of bilateral loans made under this Act so that, by not later than June 30, 1975, such total amount shall not exceed $100,000,000. " (d) I n furtherance of the provisions of subsection (a) of this section, any funds appropriated under this part I may be transferred by the President to the International Development Association, the International Bank for Reconstruction and Development, the International Finance Corporation, the Asian Development Bank or other multilateral lending institutions and multilateral organizations in which the United States participates for the purpose of providing funds to enable any such institution or organization to make loans to foreign countries."; and (3) strike out of subsection (b) "REGIONAL PROGRAMS.—". (d) Section 205, relating to transfers to international financial institutions, is repealed.

75 Stat. 426. 22 USC 2161. 83 Stat. 805. 22 USC 2162.

22 USC 2163.

Multilateral programs. 81 Stat. 449. 22 USC 2169.

Bilateral lending programs, reduction.

Transfer of funds.

Repeal. 80 Stat. 797. 22 USC 2165.

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