Pub. L. 89-583, pt. I, ch. 2, tit. I, sec. 102

Sec. 102. Title I of chapter 2 of part I of the Foreign Assistance Act of 1961, as amended, which relates to the Development Loan Fund, is amended as follows: (a) Section 201 (b), which relates to general authority to make loans from the Development Loan Fund, is amended as follows: (1) In the second sentence, strike out the word “and” at the end of clause (5) and strike out the period at the end of the sentence and insert a comma and the following: “(7) 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, (8) the degree to which the recipient country is taking steps to improve its climate for private investment, and (9) whether or not the activity to be financed will contribute to the achievement of self-sustaining growth.” (2) At the end thereof add the following new sentence: “Funds made available under this title, except funds made available pursuant to section 205, shall not be used to make loans in more than ten countries in any fiscal year, except that such loans may be made in any additional country after at least thirty days shall have elapsed following the submission by the President to the Committee on Foreign Relations of the Senate and the Speaker of the House of Representatives of a report stating that the making of loans in such additional country during such fiscal year is in the national interest and giving his reasons therefor.” (b) Section 202(a), which relates to authorization for the Development Loan Fund, is amended as follows: (1) Strike out “$1,200,000,000” and all that follows down through “succeeding fiscal years” and insert in lieu thereof “$685,000,000 for the fiscal year 1967 and $750,000,000 for each of the fiscal years 1968 and 1969”. 80 Stat. 797 (2) In the second proviso, strike out “June 30, 1965, and June 30, 1966” and insert in lieu thereof “June 30, 1967, through June 30, 1969”. (c) Amend section 205, which relates to use of international lending organizations, to read as follows: “Sec. 205. In order to serve the purposes of this title and the policy contained in section 619, 10 per centum of the funds made available for this title shall be available only for transfer, on such terms and conditions as the President determines, to the International Development Association, the International Bank for Reconstruction and Development, or the International Finance Corporation for use pursuant to the laws governing United States participation in such institutions, if any, and the governing statutes thereof and without regard to section 201 or any other requirements of this or any other Act.”