Pub. L. 89-583, pt. I, ch. 2, tit. IV, sec. 105

Sec. 105. Title VI of chapter 2 of part I of the Foreign Assistance Act of 1961, as amended, which relates to the Alliance for Progress, is amended as follows: (a) Section 251, which relates to general authority, is amended as follows: (1) In the second sentence of subsection (b), strike out “and” at the end of clause (3) and strike out the period at the end of the sentence and insert a semicolon and the following: “(5) the degree to which the recipient country is making progress toward respect for the rule of law, freedom of expression and of the press, and recognition of the importance of individual freedom, initiative, and private enterprise; (6) the degree to which the recipient country is taking steps to improve its climate for private investment; (7) whether or not the activity to be financed will contribute to the achievement of self-sustaining growth; and (8) the extent to which the activity to be financed will contribute to the economic or political integration of Latin America.” (2) At the end of such section add the following new subsection: “(h) Loans may be made under authority of this title only for social and economic development projects and programs which are consistent with the findings and recommendations of the Inter-American Committee for the Alliance for Progress in its annual review of national development activities. Whenever the President determines that the purposes of this title would be better served thereby, he may make available, in addition to any other funds available for such purposes, on such terms and conditions as he determines, not to exceed 15 per centum of the funds made available for this title to the Inter-American Development Bank, or to any of the institutions named in section 205, for use pursuant to the laws governing United States participation in the said Bank or in such institutions and the governing statutes thereof and without regard to section 201 or any other requirements of this or any other Act.” (b) Section 252, which relates to authorization, is amended as follows: (1) In the first sentence, strike out “use beginning” the first place it appears and all that follows down through “year 1966” and insert in lieu thereof “the fiscal year 1967, $696,500,000, and for each of the fiscal years 1968 and 1969, $750,000,000, which amounts are authorized to remain available until expended and which, except for not to exceed $100,000,000 in each such fiscal year”. (2) In the second sentence, strike out “1964 through 1966” and insert in lieu thereof “1968 and 1969”. (3) In the last sentence, strike out “June 30, 1965 and June 30, 1966” and insert in lieu thereof “June 30, 1967, through June 30, 1969”.