69 S T A T. ]
PUBLIC LAW 138-JULY 8, 1955
(2) Amend subsection (d) to read as follows: " (d) There is hereby authorized to be appropriated to the President for the fiscal year 1956 not to exceed $18,000,000 to pay ocean freight charges on shipments of surplus agricultural commodities, including commodities made available pursuant to any Act for the disposal abroad of United States agricultural surpluses. In addition, any funds made available under this Act may be used, in amounts determined by the President, for the purposes of this subsection." (h) In section 410, which relates to (ontrol Act expenses, insert ", and for the fiscal year 1956 not to exceed $1,175,000," after "$1,300,000". (i)(1) Change the title of section 411, which relates to administrative expenses to read "ADMINISTRATIVE AND OTHER EXPENSES". (2) Amend section 411(b) to read as follows: "(b) There is hereby authorized to be appropriated to the President for the fiscal year 1955 not to exceed $34,700,000, and for the fiscal year 1956 not to exceed $35,225,000, for all necessary administrative expenses incident to carrying out the provisions of this Act other than chapter 1 of title I and section 124." (3) Add to section 411 the following new subsection: "(c) Funds made available for the purposes of this Act may be used for compensation, allowances, and travel of personnel, including Foreign Service personnel whose services are utilized primarily for the purposes of this Act, and without regard to the provisions of any other law, for printing and binding, and for expenditures outside the continental limits of the United States for the procurement of supplies and services and for other administrative and operating purposes (other than compensation of personnel) without regard to such laws and regulations governing the obligation and expenditure of Government funds as may be necessary to accomplish the purposes of this Act." (j) Add the following new sections: " SEC. 418.
PRESIDENT'S FTTND FOR ASIAN ECONOMIC DEVELOPMENT.—
(a) The Congress of the United States reaffirms the policy of the United States to contribute to international peace and security through assisting the peoples of free Asia in their efforts to attain economic and social well-being, to safeguard basic rights and liberties, and to protect their security and independence. The Congress hereby recognizes that fundamental to these goals is an expanding economic growth of the free Asia area based upon self-help and mutual cooperation and full utilization of already existing resources and knowledge. The Congress expresses the willingness of the people of the United States to support the foregoing objectives to the extent to M^hich the countries in the area continue to make effective use of their own resources and external resources otherwise available to them. "(b) In order to carry out the purposes of this section, there is hereby authorized to be established a fund, to be known as the 'President's Fund for Asian Economic Development' (hereinafter referred to as 'the F u n d '), and there is hereby authorized to be appropriated to the President for the Fund an amount of $200,000,000, such amount to remain available until June 30, 1958. "(c) The President is authorized to utilize the appropriations made available for the Fund to accomplish in the free Asian area the policies and purposes declared in this Act and to disburse them on such terms and conditions, including transfer of funds, as he may specify to any person, corporation, or other body of persons however designated, or to any friendly foreign government, agency, or organization or group of friendly governments or agencies as may be appropriate: Provided, however. That such assistance shall emphasize loans rather than
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^^ use 1930.
22 USC 1931.
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