technical cooperation and development grants

technical cooperation and development grants Sec. 102. Title II of chapter 2 of pa it I of the Foreign Assistance Act of 1961, relating to technical cooperation and development grants, is amended as follows: (a) In section 212, relating to authorization, strike out “$183,500,000 for the fiscal year 1970, and $183,500,000 for the fiscal year 1971” and insert in lieu thereof “$175,000,000 for the fiscal year 1972, and $175,000,000 for the fiscal year 1973”. (b) In section 214(c), relating to authorization for American schools and hospitals abroad, strike out “for the fiscal year 1970, $25,900,000, and for the fiscal year 1971, $12,900,000” and insert in lieu thereby “for the fiscal year 1972, $30,000,000 and for the fiscal year 1973, $30,000,000”. (c) At the end of such title II, add the following new section: “Sec. 220A. Suez Canal.—The President is authorized to furnish financial assistance, on such terms and conditions as he may determine, for assisting in the reopening of the Suez Canal after agreement has been reached by the parties involved, which agreement provides for the use of the Canal by the ships of all nations, including Israel, on a nondiscriminatory basis. For the purpose of carrying out this section, there are authorized to be appropriated not to exceed $10,000,000 in Egyptian pounds now owned by the United States and determined by the President to be excess to the normal requirements of departments and agencies of the United States. Amounts appropriated under this section are authorized to remain available until expended.”.