Direct loans and foreign military financing

(a) Direct loans (1) In general Through fiscal year 2026, direct loans under section 23 of the Arms Export Control Act may be made available for Ukraine and North Atlantic Treaty Organization allies, notwithstanding section 23(c)(1) of the Arms Export Control Act, gross obligations for the principal amounts of which shall not exceed $8,000,000,000. (2) Other unobligated balances The unobligated balances of amounts made available by any Act making appropriations for the Department of State, foreign operations, and related programs, under the heading International Security Assistance—Funds Appropriated to the President—Foreign Military Financing shall also be made available for the cost of loans and loan guarantees as authorized by this section. (b) Terms and conditions The terms and conditions described in section 2606 of the Ukraine Supplemental Appropriations Act of 2022 (division N of Public Law 117–103) shall apply to amounts made available by this section in the same manner and to the same extent as amounts made available by such section except that subsection (b) of such section shall be applied by striking $4,000,000,000 and inserting $8,000,000,000. (c) Emergency designation Amounts repurposed pursuant to this section that were previously designated by the Congress as an emergency requirement pursuant to a concurrent resolution on the budget or the Balanced Budget and Emergency Deficit Control Act of 1985, are designated by the Congress as being for an emergency requirement pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985: Provided, That such amounts shall be available only if the President designates such amounts as an emergency requirement pursuant to section 251(b)(2)(A)(i).