[116th Congress Public Law 332]
[From the U.S. Government Publishing Office]



[[Page 134 STAT. 5111]]

Public Law 116-332
116th Congress

                                 An Act


 
 To authorize the Secretary of State to make direct loans under section 
23 of the Arms Export Control Act, and for other purposes. <<NOTE: Jan. 
                       13, 2021 -  [H.R. 2444]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Eastern European 
Security Act. 22 USC 2763 note.>> 
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Eastern European Security Act''.
SEC. 2. SENSE OF CONGRESS.

    It is the sense of Congress that it is in the national security 
interest of the United States to--
            (1) deter aggression against North Atlantic Treaty 
        Organization (NATO) allies by Russia or any other adversary;
            (2) assist NATO allies in acquiring and deploying modern, 
        NATO interoperable military equipment and reducing their 
        dependence on Russian or former Soviet-era defense articles;
            (3) ensure that NATO allies meet alliance defense 
        commitments, including through adequate investments in national 
        defense;
            (4) supplement existing grant assistance to key allies 
        through foreign military financing loans, at rates competitive 
        with those already available on commercial markets, to purchase 
        NATO-interoperable military equipment; and
            (5) work to maintain and strengthen the democratic 
        institutions and practices of all NATO allies, in accordance 
        with the goals of Article 2 of the North Atlantic Treaty.
SEC. 3. FOREIGN MILITARY LOAN AUTHORITY.

    (a) <<NOTE: Effective date. President.>>  In General.--Beginning in 
fiscal year 2021, subject to the notification requirements under 
subsection (b) and to the availability of appropriations, the President, 
acting through the Secretary of State, is authorized--
            (1) to make direct loans under section 23 of the Arms Export 
        Control Act (22 U.S.C. 2763) to NATO member countries that 
        joined the alliance after March 1, 1999, notwithstanding the 
        minimum interest rate required by subsection (c)(1) of such 
        section; and
            (2) to charge fees for such loans under paragraph (1), which 
        shall be collected from borrowers in accordance with section 
        502(7) of the Congressional Budget Act of 1974, and which may be 
        used to cover the costs of such loans as defined in section 502 
        of the Congressional Budget Act of 1974.

[[Page 134 STAT. 5112]]

    (b) <<NOTE: Certification. Deadline.>>  Notification.--A loan may 
not be made under the authority provided by subsection (a) unless the 
Secretary of State submits to the appropriate congressional committees a 
certification, not fewer than fifteen days before entering into an 
agreement to make such loan, that--
            (1) the recipient country is making demonstrable progress 
        toward meeting its defense spending commitments in accordance 
        with the 2014 NATO Wales Summit Declaration; and
            (2) the government of such recipient country is respecting 
        that country's constitution and upholds democratic values such 
        as freedom of religion, freedom of speech, freedom of the press, 
        the rule of law, and the rights of religious minorities.

    (c) Repayment.--A loan made under the authority provided by 
subsection (a) shall be repaid in not more than 12 years, but may 
include a grace period of up to 1 year on the repayment of the 
principal.
    (d) Appropriate Congressional Committees Defined.--In this Act, the 
term ``appropriate congressional committees'' means--
            (1) the Committee on Foreign Affairs and the Committee on 
        Appropriations of the House of Representatives; and
            (2) the Committee on Foreign Relations and the Committee on 
        Appropriations of the Senate.

    Approved January 13, 2021.

LEGISLATIVE HISTORY--H.R. 2444:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD:
                                                        Vol. 166 (2020):
                                    Mar. 9, considered and passed House.
                                                        Vol. 167 (2021):
                                    Jan. 1, considered and passed 
                                        Senate.

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