To amend the Foreign Assistance Act of 1961 to authorize the Overseas Private Investment Corporation to issue loan guarantees for development projects in Ireland.

Amends the Foreign Assistance Act of 1961 to declare that two of its purposes are to: (1) create more employment opportunities in the United States and Ireland; and (2) increase U.S. exports to, and the U.S. trade surplus with, the European Community. Requires the Overseas Private Investment Corporation (OPIC) to guarantee loans to U.S. firms for the establishment of low-cost distribution facilities in Ireland that use U.S. products.