Investment in Freedom and Democracy in Poland Act of 1989

Investment in Freedom and Democracy in Poland Act of 1989 - Provides for the rescheduling of: (1) any interest payments on debt owed by Poland to the U.S. Government before the end of FY 1992; and (2) one-half of such payments due in FY 1993 and 1994. Subjects such rescheduling to the President's approval. Requires rescheduled payments to be capitalized and made a part of the principal payment due the U.S. Government at the beginning of FY 1995.

Expresses the sense of the Congress that the President should urge all creditor governments to adopt a debt rescheduling program for Poland.

Establishes the United States-Poland Endowment for Free Enterprise. Requires the Endowment to invest funds in Polish and American enterprises in Poland to stimulate private sector growth. Transfers to the Endowment certain unobligated Department of Defense (DOD) funds for FY 1990. Earmarks a portion of such funds for private agricultural development to address Poland's infrastructure.

Amends the Foreign Assistance Act of 1961 to authorize appropriations for FY 1991 and 1992 for the Endowment.

Expresses the sense of the Congress that the President should urge the international community to contribute funds to the Endowment. Authorizes the President, in the event that other governments contribute, to make changes to the structure and membership of the Endowment to reflect such international composition.

Earmarks funds made available for FY 1990 for administrative costs of the Endowment. Provides that such costs shall be derived from a limited percentage of interest income after FY 1990.

Requires the Comptroller General to conduct an annual audit of the Endowment.

Authorizes: (1) the cancellation by the United States of a certain debt owed by Poland under the Agricultural Trade and Development Act of 1954; and (2) the provision by the President of certain unobligated DOD funds for FY 1990. Permits such benefits to be made to Poland only if Poland uses a certain amount of funds for the awarding of contracts to U.S. corporations for the improvement of the telephone system and related telecommunications infrastructure.

Expresses the sense of the Congress that the President should encourage the establishment of sister institution programs between American and Polish colleges and universities. Requires the President to encourage similar programs in other appropriate fields.

Directs the National Endowment for Democracy to implement a program of seminars on local governmental processes and administration if such seminars are requested by the Polish Government.

Terminates all assistance provided by this Act if the President certifies to the Congress that the course of democratization in Poland is significantly reversed.