Overseas Private Investment Corporation Amendments Act of 1988

Title I: Overseas Private Investment Corporation - Overseas Private Investment Corporation Amendments Act of 1988 - Amends the Foreign Assistance Act of 1961 to update and increase the per capita income levels established for countries with respect to which the Overseas Private Investment Corporation is required to either give preferential consideration (the least developed countries) or restrict its activities (the higher income developing countries).

Authorizes the Corporation to designate up to 25 percent of any loan from the Direct Investment Fund for use by a project sponsor in the development or adaptation in the United States of new technologies or new products or services that are likely to contribute to the economic or social development of less developed countries.

Authorizes the Corporation to establish a four-year pilot program in sub-Saharan Africa and the Caribbean Basin to assist eligible projects through the provision of limited equity capital. Requires the Corporation, in conducting such pilot project, to give preferential consideration to projects sponsored by or significantly involving U.S. small businesses or cooperatives. Authorizes the Corporation to establish a fund to be available solely for the purposes of such pilot project and to make a one-time transfer to such fund of a specified amount from its income and revenues.

Requires the Corporation to undertake cooperative programs with the private insurance industry designed to enhance the private political risk insurance industry in the United States. Requires the Corporation to establish a group to advise the Corporation on the development and implementation of such cooperative programs. Requires the Corporation to include in its annual report to the Congress an assessment of such programs. Specifies the types of information to be included in such assessment.

Increases the ceiling on the Corporation's investment guaranty authority.

Extends the authority of the Corporation to issue investment insurance and guaranties until September 30, 1992.

Removes Romania from the list of countries eligible for Corporation programs upon a finding that such programs in those countries would be in the national interest.

Expresses the sense of the Congress that the Corporation should continue to: (1) encourage U.S. small businesses to invest in the world's developing countries; and (2) encourage minority-owned U.S. small businesses to invest in the world's developing countries, as such businesses are well suited to the economic and social development needs of such countries.

Specifies that prohibitions on U.S. assistance for Haiti during FY 1988 shall not be construed to apply with respect to the Corporation unless the prohibition specifically states that it does apply.

Title II: Board for International Broadcasting - Amends the Foreign Relations Authorization Act, Fiscal Years 1988 and 1989 to authorize appropriations to the Board for International Broadcasting for radio transmitter construction and modernization. Authorizes appropriations for the construction of a relay station in Israel.