Foreign Aid Reduction and Reform Act of 1992

Foreign Aid Reduction and Reform Act of 1992 - Declares the policy of the Congress that: (1) humanitarian aid to foreign nations should continue to be provided in the form of grants; (2) foreign aid to military and economic development purposes should be converted to loans, rather than grants; and (3) the conversion should be implemented over a reasonable period of time, in recognition of prior commitments and managerial efficiency.

Title I: Foreign Operations, Export Financing, and Related Programs - Rescinds FY 1993 funds made available to the President for the Agency for International Development for: (1) population, development assistance; (2) operating expenses; (3) the housing guaranty program account; (4) the economic support fund; (5) the international fund for Ireland; (6) Philippines assistance; (7) assistance for Eastern Europe and the Baltic States; and (8) assistance for Russia and emerging Eurasian democracies.

Rescinds funds made available to the African Development Foundation and the Inter-American Foundation.

Provides supplemental FY 1993 funds to the: (1) Overseas Private Investment Corporation Program account; (2) the Peace Corps; and (3) the Department of State for international narcotics control and anti-terrorism assistance.

Rescinds funds made available to the President for international military education and training and the foreign military financing program.

Provides supplemental FY 1993 funds to the President for direct loans under the foreign military financing program, peacekeeping operations, the subsidy appropriation, and administrative expenses.

Title II: Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies - Rescinds FY 1993 funds made available to the Department of State for: (1) the administration of foreign affairs; (2) the Office of Inspector General; (3) representation allowances; (4) protection of foreign missions and officials; (5) acquisition and maintenance of buildings abroad; (6) emergencies in the diplomatic and consular service; (7) the repatriation loans program account; (8) payment to the American Institute in Taiwan; and (9) international organizations and conferences.

Rescinds FY 1993 funds made available to: (1) certain international commissions; (2) payment to the Asia Foundation; (3) the Board for International Broadcasting; (4) the Commission for the Preservation of America's Heritage Abroad; (5) the International Trade Commission; (6) the Japan-United States Friendship Commission; and (7) the United States Information Agency.