Page:United States Statutes at Large Volume 74.djvu/175

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[74 Stat. 135]
[74 Stat. 135]
PUBLIC LAW 86-000—MMMM. DD, 1960

74

STAT.]

PUBLIC LAW 86-472-.MAY

U,

1960

ately before the period at the end thereof the following proviso: ": Provided, That either all documents, papers, communications, audits, reviews, findings, recommendations, reports, and other material which relate to operations or activities under this title are furnished to the General Accounting Office and to any committee of the Congress, or any duly authorized subcommittee thereof, charged with considering legislation, appropriations, or expenditures under this title, upon request of the General Accounting Office or such committee or subcommittee as the case may be, or the President certifies that he has forbidden the information to be furnished pursuant to such request and gives his reasons for doing so". (b) I n section 131(b), which relates to general authority, strike out "1960" and "$751,000,000" and substitute "1961" and "$675,000,000", respectively. (c) In section 141, which relates to conditions of eligibility for assistance, strike out "No such assistance" in the second sentence and substitute "No defense support or military equipment and materials". (d) I n section 142(a), which relates to agreements, strike out "No assistance" in the introductory clause and substitute "No defense support or military equipment and materials".

135

22 USC 1341. 22 USC 185 1.

22 USC 1852.

DEVELOPMENT LOAN FUND

SEC. 202. Title II of chapter II of the Mutual Security Act of 1954, as amended, which relates to the Development Loan Fund, is amended as follows: (a) Amend section 201, which states the purposes of the Development Loan Fund, as follows: (1) I n the last sentence, after "to develop their economic resources" insert "and free economic institutions", and after "to increase their productive capabilities" insert "in agriculture as well as in industry". (2) At the end of the section, add the following new sentences: "The Congress recognizes that the accomplishment of the purposes of this title in rapidly developing countries requires the development of free economic institutions and the stimulation of private investment, local as well as foreign, in the field of housing. I t is the sense of the Congress that, consistent with the other purposes of this title, special consideration should be given to loans and guarantees to stimulate activities in this field." (b) Amend section 202, which relates to general powers of the Development Loan Fund, as follows: (1) In clause (3) of the first sentence of subsection (b) insert "or free economic institutions" after "economic resources". (2) At the end of the section, add the following new subsection: "(c) The F u n d shall not allocate, reserve, earmark, commit, or otherwise set aside, funds aggregating in excess of $50,000 for use in any country under this title unless (1) an application for such funds has been received for use in such country together with sufficient information and assurances to indicate reasonably that the funds will be used in an economically and technically sound manner, or (2) the President determines with respect to each such allocation, reservation, earmarking, commitment, or set-aside that it is in the national interest to use such funds pursuant to multilateral plans." (c) I n section 205(a), which relates to management, powers, and authorities, strike out "Under Secretary of State for Economic Affairs" in the first sentence and substitute "Secretary of State".

22 USC i87i.

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