The bill before the Senate provides the necessary authorization of funds to help the two emergIng democracies in our own hemisphere. Panama and Nicaragua. build democracy and foster economic recovery. S. 2364 authorizes a total of $870 million of supplemental assistance. $470 million for Panama. $300 million for Nicaragua. $30 million for subSaharan Africa. and $70 million for refugee programs. The inclusion of $30 million in authorization for subSaharan Africa reflects an agreement made between Congress and the administration at the time Congress approved the first package of assistance for Panama earlier this year. $30 million of which was transferred from unobligated funds in Africa. The levels of authorization. with the exception of the above mentioned transfer of funds from Panama to Africa. are consistent with the levels requested by the administration on March 15. The administration intends that this assistance be derived from funds transferred from appropriation accounts of the Department of Defense. In addition. S. 2364 authorizes $400 million In guarantee authority under AIDs Investment Guarantee Program to build housing and necessary infrastructure for the enormous Influx of Soviet refugees In Israel. I would point out to my colleagues that this is a loan guarantee program with no budget impact. No direct appropriation of budget authority is necessary.
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