Credit sales

The President is authorized to finance the procurement of defense articles, defense services, and design and construction services by friendly foreign countries and international organizations, on such terms and conditions as he may determine consistent with the requirements of this section. Notwithstanding any other provision of law, and subject to the regular notification requirements of the Committees on Appropriations, the authority of this section may be used to provide financing to Israel and Egypt for the procurement by leasing (including leasing with an option to purchase) of defense articles from United States commercial suppliers, not including Major Defense Equipment (other than helicopters and other types of aircraft having possible civilian application), if the President determines that there are compelling foreign policy or national security reasons for those defense articles being provided by commercial lease rather than by government-to-government sale under this chapter.

( Pub. L. 90–629 , ch. 2, § 23, Oct. 22, 1968 , 82 Stat. 1324 ; Pub. L. 93–559, § 45(a)(2) , Dec. 30, 1974 , 88 Stat. 1813 ; Pub. L. 94–329, title II, § 208(a) , June 30, 1976 , 90 Stat. 739 ; Pub. L. 96–533, title I, § 105(b)(3) , Dec. 16, 1980 , 94 Stat. 3134 ; Pub. L. 99–83, title I, § 102 , Aug. 8, 1985 , 99 Stat. 195 ; Pub. L. 100–202, § 101(e) [title V, § 572] , Dec. 22, 1987 , 101 Stat. 1329–131 , 1329–176; Pub. L. 101–513, title V, § 580 , Nov. 5, 1990 , 104 Stat. 2045 ; Pub. L. 104–164, title I, § 102(a) –(c), July 21, 1996 , 110 Stat. 1422 .)