73 S T A T. ]
PUBLIC LAW 8 6 - 1 0 8 - J U L Y 24, 1959
251
" (a) $5,000,000 shall be available until expended only for financing studies, research, instruction, and other educational activities of citizens of underdeveloped countries in educational institutions in the United States, Puerto Rico, and the Virgin Islands. Such financing may include payment for transportation, tuition, maintenance and other expenses incident to scholastic activities. The President may employ such funds to augment programs of this character authorized 60 by section 32(b)(2) of the Surplus Property Act of 1944, as amended, 5 0 Stat. e754.a p p. u s and by the United States Information and Educational Exchange Act i64i of 1948, as amended, and he may consolidate such portions of such 2 2^*usc^* i43 i $5,000,000 as he may deem appropriate with appropriations made to note. carry out these two Acts. " (b) $5,000,000 shall be available until expended only for the training of people of underdeveloped countries in skills which will contribute to economic development. Such training shall be carried out in accordance with the policies set forth in title III of chapter II, relating to technical cooperation, and such $5,000,000 may be consolidated with appropriations made for carrying out title III of chapter II. " (m) Amend section 413, which relates to encouragement of free 22 USC 1933. enterprise and private participation, as follows: (1) I n subparagraph (b)(4)(A), strike out "any of the purposes of this Act" and substitute "the development of the economic resources and productive capacities of economically underdeveloped areas or, in the case of guaranties issued prior to January 1, 1960, on the basis of applications submitted prior to July 1, 1959, any of the purposes of this Act". (2) I n subparagraph (b)(4)(F), strike out "$500,000,000" and substitute "$1,000,000,000". (3) I n subparagraph (b)(4)(G), strike out "achieving any of the purposes of this Act" and substitute "furthering the development of the economic resources and productive capacities of economically underdeveloped areas or, in the case of guaranties issued prior to January 1, 1960, on the basis of applications submitted prior to July 1, 1959, any of the purposes of this Act". (4) I n subsection (c), delete the words "a study" following the ^2 Stat. 267. words "shall conduct" and insert in lieu thereof "annual studies to keep the data up to date"; insert immediately before the period at the end of the first sentence the following: ", and to the net position of the United States in its balance of trade with the rest of the world"; and in the final sentence delete the word "study" following "such" and insert in lieu thereof "studies". (5) Add the following new subsection: " (d) Under the direction of the President, the Department of State and such other agencies of the Government as the President shall deem appropriate shall conduct a study of methods by which the United States and other nations including those which are parties to regional agreements for economic cooperation to which the United States is a party, or any of them, might best together formulate and effectuate programs of assistance to strengthen the economies of free nations so as to advance the principal purposes of this Act, as stated in section 2 thereof." (n) I n section 419(a), which relates to atoms for peace, strike out 22 us*c* xili "1959" and "$5,500,000" in the second sentence and substitute "1960" and "$6,500,000", respectively.
32716 O-60—19
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