OVERSEAS PRIVATE INVESTMENT CORPORATION.

SEC. 2203. OVERSEAS PRIVATE INVESTMENT CORPORATION. (a) Reaffirmation of Support for OPIC.—The Congress reaffirms its support for the Overseas Private Investment Corporation as a United States Government agency serving important development assistance goals. In order to enhance the Corporation’s ability to meet these goals, the Overseas Private Investment Corporation should increase its loan guaranty and direct investment programs. (b) Increase in Guaranties and Direct Investments.— (1) Loan guaranties.—Section 235(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2195(a)) is amended— (A) in paragraph (2) by striking “$750,000,000” and inserting “$1,000,000,000”; (B) by redesignating paragraph (5) as paragraph (6); and (C) by inserting after paragraph (4) the following: “(5) Subject to paragraphs (2), (3), and (4), the Corporation shall issue guaranties under section 234(b) having an aggregate contingent liability with respect to principal of not less than $200,000,000 in each fiscal year, to the extent that there are eligible projects which meet the Corporation’s criteria for such guaranties.”. (2) Direct investment.—Section 235(b) of the Foreign Assistance Act of 1961 is amended— (A) by striking the comma after “Act of 1981” and inserting a period; and (B) by striking “and the Corporation shall use” and all that follows through “funding” and inserting the following: “The Corporation shall make loans under section 234(c) in an aggregate amount of not less than $25,000,000 in each fiscal year, to the extent that there are eligible projects which meet the Corporation’s criteria for such loans”. (c) Operations of the Overseas Private Investment Corporation in the People’s Republic of China.—Section 231A(a) of the Foreign Assistance Act of 1961 is amended by adding at the end the following new paragraph: “(4) In making a determination under this section for the People’s Republic of China, the Corporation shall discuss fully and completely the justification for making such determination with respect to each item set forth in subparagraphs (A) through (E) of section 502(a)(4) of the Trade Act of 1974.”.