H.R. 2444 - Eastern European Security Act
This bill authorizes the Secretary of State to provide direct loans to NATO member countries that joined after March 1, 1999, for the purpose of purchasing military equipment and reducing their dependence on Russian defense articles. The loans will have competitive interest rates and can be repaid within 12 years, with a grace period of up to 1 year.
The bill also emphasizes the importance of deterring aggression against NATO allies, ensuring defense commitments, and strengthening democratic institutions within NATO countries.
The loan authority provided by the bill is subject to notification requirements and the availability of appropriations, and the Secretary of State must certify that recipient countries are making progress in meeting their defense spending commitments and upholding democratic values before a loan can be made.
The bill defines "appropriate congressional committees" as the Committees on Foreign Affairs and Appropriations of the House of Representatives, and the Committees on Foreign Relations and Appropriations of the Senate.