International Development Assistance Act

[AI summary unavailable — showing source text] International Development Assistance Act - Amends the Foreign Assistance Act of 1961 to restate United States development assistance policy. Authorizes the President to furnish grant and loan assistance to carry out this Act. Revises the criteria for making development loans. Repeals certain exemptions from the three percent minimum interest on such loans. Repeals the prohibitions against: (1) transferring such loan funds to other accounts; and (2) utilizing the special assistance authority of the President to waive the limitations on development loan assistance. Authorizes a specified amount of such Fund to furnish assistance to research and development institutions within the United States to strengthen their capacity to carry out economic and social development programs in less developed countries. Authorizes the President to use development assistance funds to pay transportation costs on relief, rehabilitation, and development shipments by certain United States voluntary foreign aid agencies. Abolishes the Development Loan Fund. Repeals certain limitations on making development loans with respect to the efficient use of the loan by the recipient country. Repeals the authority o…