Sec. 2. Authorization for direct loans and loan guarantees
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The Secretary of State is authorized to provide, to any country or international organization the Secretary determines appropriate and consistent with United States national security interests— direct loans for the purpose of financing the procurement of defense articles, defense services, and design and construction services pursuant to section 23 of the Arms Export Control Act ( 22 U.S.C. 2763 ); and loan guarantees for the purpose of financing the procurement of defense articles, defense services, and design and construction services pursuant to section 24 of such Act ( 22 U.S.C. 2764 ).
The Secretary is authorized to establish the rate of interest, repayment schedule, and repayment terms applicable to direct loans authorized under subsection (a)(1). Except as authorized in subsection (b), any direct loan or loan guarantee authorized under subsection
(a)shall be subject to— the terms, conditions, eligibility requirements, and limitations set forth in section 23 of the Arms Export Control Act ( 22 U.S.C. 2763 ); such additional terms and conditions as the Secretary may prescribe; and the availability of funds appropriated by Congress for purposes of this section.
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