Foreign Assistance Act

[AI summary unavailable — showing source text] Foreign Assistance Act - Provides, under the Bill Development Loan Fund, authorizations for fiscal years 1974 and 1975 for development loans in the amount of $201,400,000 for each year. Makes applicable through fiscal year 1975 the requirements that not less than 50 percent of the funds appropriated for development loans be used to encourage economic development through private enterprise. Authorizes the appropriation of $165,650,000 for fiscal year 1974 and $165,650,000 for fiscal year 1975 for technical cooperation and development grants. Provides authorizations of $10,000,000 for fiscal year 1974 and $10,000,000 for fiscal year 1975 for assistance to American schools and hospitals abroad. Increases to $480,000,000 the amount of worldwide housing investment guaranty authority. Increases to $594,900,000 the amount of Latin American housing guaranty authority. Provides that all costs of the Overseas Private Investment Corporation's insurance operations be borne by the private users of the services. Permits the Corporation to acquire in its financing operations, warrants and other rights to acquire stock. Provides that such rights may not be exercised while held by OPIC. Extends OPI…