reappraisal by the president

reappraisal by the president Sec. 502. (a) In furtherance of the policy of this part) the President is requested to make a thorough and comprehensive reappraisal of United States foreign assistance programs, as described in section 501, and to submit to the Congress, on or before March 31, 1970, his recommendations for achieving such reforms in and reorganization of future foreign assistance programs as he determines to be necessary and appropriate in the national interest in the light of such reappraisal. The resident is requested to submit to the Congress, on or before July 1, 1969, an interim report presenting any preliminary recommendations formulated by him pursuant to this section. (b) It is the sense of the Congress that the reappraisal provided for in subsection (a) should include, but not be limited to, an analysis and consideration of proposals concerning the establishment of a Government corporation or a federally chartered private corporation designed to mobilize and facilitate the use of United States private capital and skills in less developed friendly countries and areas, including whether such corporation should be authorized to— (1) utilize Government guarantees and funds as well as private funds; (2) seek, develop, promote, and underwrite new investment projects; (3) assist in transferring skills and technology to less developed friendly countries and areas; and (4) invest in the securities of development financing institutions and assist in the formation and expansion of local capital markets.