A bill to amend the Foreign Assistance Act of 1961 with respect to the activities of the Overseas Private Investment Corporation.

Summary

Amends the Foreign Assistance Act of 1961 to prohibit the Overseas Private Investment Corporation (OPIC) from issuing any insurance or guarantees (or allowing any such insurance or guarantees to remain in effect) for any project which produces exports to the United States of goods which are directly competitive with U.S. goods. Allows an exception for projects in countries whose annual per capita income is $984 or less in 1986 U.S. dollars. Provides that exports to the United States of more than ten percent of a project's total output shall be considered to be directly competitive exports. Prohibits OPIC from issuing any insurance or guarantees for: (1) any petroleum producing project; (2) any hotel project; or (3) any financial institutions whose proposed projects are not located in countries included in the United General System of Preferences. Requires OPIC to report to the Congress concerning the implementation of the recommendations contained within the May 1987 General Accounting Office report on OPIC operations.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 25 January 1989

  Open at official source

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