structure within the Fund. Provided, however, That any commitment to make such contribution shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution to the African Development Fund provided for in this section there are authorized to be appropriated be appropriated without fiscal year limitation $50,000,000 for payment by the Secretary of the Treasury. 14

SEC. 212.15 (a) The United States Governor of the Fund is authorized to contribute on behalf of the United States $125,000,000 to the Fund as the United States contribution to the second replenishment of the resources of the Fund, except that any commitment to make such contribution shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided for in this section, there is authorized to be appropriated, without fiscal year limitation, $125,000,000 for payment by the Secretary of the Treasury.16

(c) For the purpose of keeping to a minimum the cost of the United States, the Secretary of the Treasury—

(1) shall pay the United States contribution to the African Development Fund authorized by this section by letter of credit in three annual installments; and

(2) shall take the steps necessary to obtain a certification from the Fund that any undisbursed balances resulting from drawdowns on such letter of credit will not exceed at any time the United States share of expected disbursement requirements for the following three-month period.

SEC. 213.17 (a)(1) The United States Governor of the Fund is authorized to contribute on behalf of the United States $150,000,000 to the Fund as the United States contribution to the third replenishment of the resources of the Fund.

(2) Any commitment to make the contribution authorized in paragraph (1) shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $150,000,000 for payment by the Secretary of the Treasury. 18

14 Appropriations for U.S. payment authorized in sec. 211 were provided in the following amount and Public Law: fiscal year 1979-$25 million (Public Law 95-481).

15 22 U.S.C. 290g-11. Sec. 212 was added by sec. 301(2) of Public Law 96-259 (94 Stat, 430). 16 Appropriations for U.S. payments authorized in sec. 212 were provided in the following amounts and Public Laws: fiscal year 1980-$25 million (Public Law 96-123); fiscal year 1981$41.7 million (Public Law 96-536); fiscal year 1982-$58.3 million (Public Law 97-121).

17 22 U.S.C. 290g-12. Sec. 213 was added by sec. 1003 of Public Law 98-181 (97 Stat. 1286). 18 Appropriations for U.S. payments authorized in sec. 213 were provided in the following amounts and Public Laws: fiscal year 1983-$50 million (Public Law 97-377); fiscal year 1984$50 million (Public Law 98-151); fiscal year 1985-$50 million (Public Law 98-473); fiscal year 1986- $62.2 million [fourth replenishment] (Public Law 99-190).

UNITED STATES CONTRIBUTION

SEC. 214.19 (a)(1) The United States Governor of the Fund is authorized to contribute $225,000,000 to the fourth replenishment of the resources of the Fund.

(2) Any commitment to make the contribution authorized in paragraph (1) shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $225,000,000 for payment by the Secretary of the Treasury.20

FIFTH REPLENISHMENT

SEC. 215.21 (a) CONTRIBUTION AUTHORIZED.-The United States Governor of the Fund is authorized to contribute $315,000,000 to the fifth replenishment of the resources of the Fund, except that such authority shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.

(b) AUTHORIZATION OF APPROPRIATIONS.-In order to pay for the United States contribution provided for in this section, there are authorized to be appropriated, without fiscal_year limitation, $315,000,000 for payment by the Secretary of the Treasury.22

19 22 U.S.C. 290g-13. Sec. 214 was added by sec. 201 of H.R. 2253 (the Multilateral Development Bank Act of 1985), enacted into law by sec. 101(i) of the Further Continuing Appropriations, 1986 (Public Law 99-190; 99 Stat. 1294).

20 Appropriations for U.S. payments authorized in sec. 214 were provided in the following amounts and Public Laws: fiscal year 1986-$62.2 million (Public Law 99-190); fiscal year 1987$53.8 million (Public Law 99-591); fiscal year 1987 supplemental-$36.6 million (Public Law 10071); fiscal year 1988-$75 million (Public Law 100-202).

21 Sec. 215 was added by sec. 2 of H.R. 4645, as enacted into law by sec. 555 of Public Law 100-461 (102 Stat. 2268).

22 Appropriations for U.S. payments authorized in sec. 215 for the fifth replenishment of the African Development Fund was provided in the following amounts and Public Laws: fiscal year 1989-$105 million (Public Law 100-461); fiscal year 1990-$105 million (Public Law 101-167).

b. Authorization for Increased U.S. Participation

(1) International Development and Finance Act of 1989

Partial text of Public Law 101-240 [H.R. 2494], 103 Stat. 2492, approved December 19, 1989

AN ACT To reauthorize the Export-Import Bank tied aid credit fund and pilot interest subsidy program, to provide for the participation of the United States in a replenishment of the Inter-American Development Bank and in the Enhanced Structural Adjustment Facility of the International Monetary Fund, to improve the safety and soundness of the United States banking system and encourage the reduction of the debt burdens of the highly indebted countries, to encourage the multilateral development banks to engage in environmentally sustainable lending practices and give greater priority to poverty alleviation, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1.1 SHORT TITLE; TABLE OF CONTENTS.

(a) SHORT TITLE.-This Act may be cited as the "International Development and Finance Act of 1989".

(b) TABLE OF CONTENTS.

Sec. 1. Short title; table of contents.

TITLE I-EXPORT-IMPORT BANK ACT AMENDMENTS

Sec. 101. Export-Import Bank Act amendments.

Sec. 102. Extension of credit by Export-Import Bank with respect to Angola prohibited unless certain conditions are met.

Sec. 103. Export-import programs to the People's Republic of China prohibited unless certain conditions are met.

TITLE II-INTER-AMERICAN DEVELOPMENT BANK

Sec. 201. Participatio by the United States in a capital increase of the Inter-American Development Bank; increase in resources of fund for special operations.

Sec. 202. Investment in human capital.

Sec. 203. Limitations on Inter-American Development Bank policy based lending. Sec. 204. Increase in Inter-American Development Bank lending to the Caribbean. Sec. 205. Sense of the Congress that Inter-American Development Bank loans should reduce dependence on illicit narcotics.

Sec. 206. Directives regarding government-owned enterprises in countries receiving IADB loans.

TITLE III-INTERNATIONAL MONETARY FUND ENHANCED STRUCTURAL ADJUSTMENT FACILITY

Sec. 301. Contribution to the interest subsidy account of the Enhanced Structural Adjustment Facility of the International Monetary Fund.

Sec. 302. Discussions to enhance the capacity of the International Monetary Fund to alleviate the potentially adverse impacts of Fund programs on the poor and the environment.

TITLE IV-INTERNATIONAL DEBT PROVISIONS

Sec. 401. Short title.

1 22 U.S.C. 2151 note.

Sec. 402. Additional reserve requirements.

Sec. 403. Report on mark to market accounting.

Sec. 404. Study on elimination of capital flight.

Sec. 405. Factors to be taken into account in developing United States policy toward debt reduction for certain highly indebted countries; report to the Congress.

Sec. 406. Sense of the Congress that agreements to reduce debt burden should be accompanied by trade liberalization.

Sec. 407. Linkage of debt reduction loans to reduction in drug trafficking; report to Congress.

TITLE V-ALLEVIATION OF POVERTY; ENVIRONMENTAL PROVISIONS; DEBT-FOR-DEVELOPMENT SWAPS; CONSOLIDATION OF REPORTING

REQUIREMENTS

Subtitle A-Alleviation of Poverty

Sec. 501. Increasing the productive economic participation of the poor.

Subtitle B-International Debt Exchanges and the Environment Sec. 511. Sense of the Congress resolution regarding environmental policy and international debt exchanges. Sec. 512. Multilateral development banks and debt-for-nature exchanges.

Subtitle C-Environmental Impact Assessments

Sec. 521. Assessment of environmental impact of proposed multilateral development bank actions.

Subtitle D-Debt-for-Development Swaps

Sec. 531. Encouragement of debt-for-development swaps through local currency repayment.

Subtitle E-Consolidation of Certain Reporting Requirements

Sec. 541. Consolidation of certain reporting requirements.

TITLE VI-MISCELLANEOUS PROVISIONS

Sec. 601. Sense of the Congress that the International Bank for Reconstruction and Development and the International Monetary Fund should expeditiously act upon loan requests from Poland.

Sec. 602. Sense of the Congress supporting assistance by multilateral lending institutions to establish financial institutions in Poland.

Sec. 603. Sense of the Congress relating to conditional financial assistance by multilateral lending institutions to Poland.

Sec. 604. Sense of the Congress opposing the making of certain loans or the extension of certain financial and technical assistance to the People's Republic of China.

Sec. 701. Short title.

TITLE VII-MISCELLANEOUS

PART A-COMMERCIAL DEBT-FOR NATURE EXCHANGES

Sec. 711. Amendment to the Foreign Assistance Act.

PART B-MULTILATERAL FOREIGN ASSISTANCE CORPORATION

Sec. 721. General policy.

Sec. 722. Policy on negotiations.

TITLE VIII-EFFECTIVE DATE

Sec. 801. Effective date.

TITLE I-EXPORT-IMPORT BANK ACT AMENDMENTS

SEC. 101.2 EXPORT-IMPORT BANK ACT AMENDMENTS.

*

(e) REPORT WITH RESPECT TO LOAN LOSS RESERVES.-Before the end of the 6-month period beginning on the date of the enactment of this section, the Export-Import Bank of the United States shall submit a report to the Congress explaining why the Bank has not established a loan loss reserve. In preparing such report, the Bank shall

(1) determine if the establishment of a loan loss reserve would result in the unproductive characterization of the creditworthiness of certain types of borrowers;

(2) consult with the appropriate Executive branch entities to determine the budgeting and financial management implications of establishing a loan loss reserve;

(3) review whether, and the extent to which similar bilateral and multilateral lending institutions make provision against loan losses; and

(4) report on the steps needed to return the Bank to profitability.

SEC. 103.3 EXPORT-IMPORT PROGRAMS TO THE PEOPLE'S REPUBLIC OF CHINA PROHIBITED UNLESS CERTAIN CONDITIONS ARE MET.

(a) Notwithstanding any other provision of law and subject to the provisions of subsections (b) and (c), the Export-Import Bank of the United States shall not finance any trade with, nor extend any loan, credit, credit guarantee, insurance or reinsurance to the People's Republic of China.

(b) The prohibitions described in subsection (a) of this section shall not apply to food or agricultural commodities.

(c) The President may waive the prohibitions in subsection (a) if he makes a report to Congress either

(1) that the Government of the People's Republic of China has made progress on a program of political reform throughout the country, as well as in Tibet, which includes

(A) lifting of martial law;

(B) halting of executions and other reprisals against individuals for the nonviolent expression of their political beliefs;

(C) release of political prisoners;

(D) increased respect for internationally recognized human rights, including freedom of expression, the press, assembly, and association; and

(E) permitting a freer flow of information, including an end to the jamming of Voice of America and greater access for foreign journalists; or

2 The Export-Import Bank Act of 1945 may be found beginning at page 3.

3 12 U.S.C. 635 note.