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PROMOTION OF LENDING FOR THE ENVIRONMENT

SEC. 1615.41_The Secretary of the Treasury shall instruct the United States Executive Director of the International Bank for Re construction and Development to initiate discussions with the other executive directors of such bank and the management of such bank and propose that, in order to reduce the future need for bank lending for reforestation and restoration of environmentally degraded areas, the bank establish a project and policy based environmental lending program (including a loan a portion of which could be used to reduce and restructure private debt), to be made available to interested countries with a demonstrated commitment to natural re source conservation, which would be based on

(1) the estimated long-term economic return which could be
expected from the sustainable use and protection of tropical
forests, including the value of tropical forests for indigenous
people and for science;
(2) the value derived from such services as-

(A) watershed management;
(B) soil erosion control;
(C) the maintenance and improvement of-

(i) fisheries;

(ii) water supply regulation for industrial development;

(iii) food;
(iv) fuel;
(v) fodder; and

(vi) building materials for local communities;
(D) the extraction of naturally occurring products from
locally controlled protected areas; and

(E) indigenous knowledge of the management and use of natural resources; and (3) the long-term benefits expected to be derived from maintaining biological diversity and climate stabilization.

PROMOTION OF INSTITUTION-BUILDING FOR NONGOVERNMENTAL

ORGANIZATIONS CONCERNED WITH THE ENVIRONMENT

SEC. 1616.42 The Secretary of the Treasury shall instruct the United States Executive Directors of the multilateral development banks to vigorously promote the adoption of policies and proce dures which seek to

(1) increase collaboration with, and, where necessary, strengthen, nongovernmental organizations in such countries which are concerned with environmental protection by providing appropriate assistance and support for programs and activities on environmental protection; and

(2) encourage international collaboration for information exchange and project enhancement with nongovernmental organizations in developing countries which are concerned with en

41 22 U.S.C. 262p-4j. Added by sec. 512 of the International Development and Finance Act of 1989 (Public Law 101-240; 103 Stat. 2508).

42 22 U.S.C. 262p-4k. Added by sec. 512 of the International Development and Finance Act of 1989 (Public Law 101-240; 103 Stat. 2510).

vironmental protection and government agencies and private voluntary organizations in developed countries which are con

cerned with environmental protection. Sec. 1617.43 For purposes of this title and titles XIV and XV

(1) the term "multilateral development bank” means the International Bank for Reconstruction and Development, the International Development Association, and the regional multilateral development banks; and

(2) the term “regional multilateral development bank” means the Inter-American Development Bank, the African Development Bank, the African Development Fund, and the Asian Development Bank.

TITLE XVII–CONSOLIDATED REPORTING

REQUIREMENTS 44

ANNUAL REPORT BY CHAIRMAN OF THE NATIONAL ADVISORY COUNCIL

ON INTERNATIONAL MONETARY AND FINANCIAL POLICIES Sec. 1701.45 (a) IN GENERAL.—The Chairman shall report annually to the Speaker of the House of Representatives, the President of the Senate, and to the President of the United States on the participation of the United States in the international financial institutions. The Chairman shall present such report to the Speaker of the House of Representatives and the President of the Senate not later than April 1 of each year following the close of the fiscal year covered by such report, except that the report for fiscal year 1989 shall be submitted not later than June 1, 1990.

(b) CONTENTS OF REPORTS.-Each annual report required by subsection (a) shall contain

(1) such data and explanations concerning the effectiveness, operations, and policies of the international financial institutions, such recommendations concerning the international financial institutions, and such other data and material as the Chairman may deem appropriate;

(2) the reports on each specific issue and topic which is required by any other provision of law to be included in the report of the National Advisory Council on International Monetary and Financial Policies required by section 4(b)(5) of the Bretton Woods Agreements Act, as in effect immediately before the date of the enactment of this section;

(3) a description of each loan or other form of financial assistance approved by any international financial institution during the fiscal year covered by such report, and a discussion of how such loan or financial assistance will benefit the people, particularly the poor people, of the recipient country;

*3 22 U.S.C. 262p-5. Sec. 1617, originally added as sec. 1605 by Public Law 100-202 (101 Stat. 1329 at 1329-134), was redesignated as sec. 1612 by sec. 6 of H.R. 4645 as enacted into law by Public Law 100-461 (102 Stat. 2268). This section was redesignated as sec. 1613 by sec. 206 of Public Law 101-240 (103 Stat. 2499), further redesignated as sec. 1614 by sec. 501 of that Act, and finally redesignated as sec. 1617 by that Act.

“ Sec. 541(a) of the International Development and Finance Act of 1989 (Public Law 101-240; 103 Stat. 2514 et seq.) added titles XVII, XVIII, and XIX.

45 22 U.S.C. 262r.

(4) a review of the success achieved through the multilateral development banks in reducing or eliminating import restrictions and unfair export subsidies which

(A) have been determined to be consistent with international agreements; and

(B) have a serious adverse impact on the United States; (5) a description of the actions taken and the progress made in carrying out subsections (a) and (b) of section 45 of the Bretton Woods Agreements Act;

(6) the report required by section 2018(c) of the International Narcotics Act of 1986 (title II of Public Law 99-570), discussing the actions taken and progress made in encouraging the multilateral development banks to finance drug eradication and crop substitution programs;

(7) a description of the progress made by the United States Executive Director of the International Monetary Fund with respect to the goals of section 55 of the Bretton Woods Agree ments Act;

(8) a description of the status of procedures in the multilateral development banks specifically designed to increase the productive role of the poor in the economies of the nations which are borrowers from such banks;

(9) in consultation with the Secretary of State, a report on the progress toward achieving the goals of title VII (other than section 704), including the information required to be reported pursuant to section 701(c), and, for the fiscal year 1990, the report described in section 1613;

(10) in consultation with the Secretary of State and the Administrator of the Agency for International Development, an assessment of the progress being made to implement the objectives of title XIII; and (11) a report on

(A) the progress made in transforming governmentowned enterprises into privately owned enterprises as de scribed in section 1612(b);

(B) the performance of the privately owned enterprises resulting from such transformation; and

(C) the contributions of development finance companies toward strengthening the private sector in member bor

rowing countries. (c) DEFINITIONS.- As used in this title, title XVIII, and title XIX:

(1) CHAIRMAN.-The term "Chairman" means the Chairman of the National Advisory Council on International Monetary and Financial Policies.

(2) INTERNATIONAL FINANCIAL INSTITUTIONS.—The term "international financial institutions" means the International Monetary Fund, International Bank for Reconstruction and Development, International Development Association, International Finance Corporation, Multilateral Investment Guarantee Agency, African Development Bank, African Development Fund, Asian Development Bank, Inter-American Development Bank, and Inter-American Investment Corporation.

(3) MULTILATERAL DEVELOPMENT INSTITUTIONS.—The term "multilateral development institutions" means the international financial institutions other than the International Monetary Fund.

(4) MULTILATERAL DEVELOPMENT BANKS.—The term “multilateral development banks" means the multilateral development institutions other than the Multilateral Investment Guarantee

Agency. (d) TESTIMONY REQUIRED.-Upon request of the Committee on Banking, Finance and Urban Affairs of the House of Representatives, the Chairman shall testify before the Committee to support and explain each annual report required by subsection (a). If the President has delegated to a person or persons other than the Chairman the authority to manage United States participation in the international financial institutions which was vested in the President by section 1(b) of the Reorganization Plan No. 4 of 1965, such person or persons shall, upon request of the Committee, accompany the Chairman and testify before the Committee with regard to such report. The Chairman and such other person or persons shall assess, in their testimony, the effectiveness of the international financial institutions, the major issues affecting United States participation, the major developments in the past year, the prospects for the coming year, United States policy goals with respect to the international financial institutions, and any specific issues addressed to them by any member of the Committee.

TRANSMISSION TO THE CONGRESS OF OPERATING SUMMARIES OF THE

MULTILATERAL DEVELOPMENT BANKS

Sec. 1702.46 The Secretary of the Treasury shall transmit to the Congress, on a monthly basis, current copies of the Monthly Operating Summary of the International Bank for Reconstruction and Development, showing the loan proposals or appraisal reports under consideration and the status of those loan proposals or appraisal reports within the Bank. The Secretary of the Treasury shall also transmit to the Congress, at such times as may be appropriate, comparable documents prepared by the other multilateral development banks which show the loans or credits under consideration in the other multilateral development banks.

COMBINED REPORT ON EFFECT OF PENDING MULTILATERAL DEVELOP

MENT BANK LOANS ON ENVIRONMENT, NATURAL RESOURCES, PUBLIC HEALTH, AND INDIGENOUS PEOPLES

Sec. 1703.47 Not later than April 1 and October 1 of each year, the Administrator of the Agency for International Development, in consultation with the Secretary of the Treasury and the Secretary of State, shall submit to the Committee on Appropriations and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, and the Committee on Appropriations and the Committee on Foreign Relations of the Senate, as a combined report, the reports required by section 1303(c) of this Act and by section 537(h)(2) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1988 (sec. 1(e) of Public Law 100-202).

46 22 U.S.C. 262r-1. 47 22 U.S.C. 262r-2.

TITLE XVIII-EXPORT ENHANCEMENT 44

MULTILATERAL DEVELOPMENT BANK PROCUREMENT

SEC. 1801.48 (a) EXECUTIVE DIRECTORS.—The Secretary of the Treasury shall instruct the United States Executive Director of each multilateral development bank to attach a high priority to promoting opportunities for exports for goods and services from the United States and, in carrying out this function, to investigate thoroughly any complaints from United States bidders about the awarding of procurement contracts by the multilateral develop ment banks to ensure that all contract procedures and rules of the banks are observed and that United States firms are treated fairly. (b) OFFICER OF PROCUREMENT.

(1) ESTABLISHMENT.—The Secretary of the Treasury shall designate, within the Office of International Affairs in the Department of the Treasury, an officer of multilateral development bank procurement.

(2) FUNCTION.-The officer shall act as the liaison between the Department of the Treasury, the Department of Commerce, and the United States Executive Directors' offices in the multilateral development banks, in carrying out this section. The officer shall cooperate with the Department of Commerce in efforts to improve opportunities for multilateral de

velopment bank procurement by United States companies. (b) MULTILATERAL DEVELOPMENT BANK DEFINED.-As used in this section, the term "multilateral development bank” includes the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Inter-American Development Bank, the Inter American Investment Corporation, the Asian Development Bank, the African Development Bank, and the African Development Fund.

PROCUREMENT OPPORTUNITIES FOR UNITED STATES FIRMS

Sec. 1802.49 The Secretary of the Treasury shall instruct the United States Executive Directors of the multilateral development institutions to take all possible steps to ensure that information relating to potential procurement opportunities for United States firms is expeditiously communicated to the Secretary of the Treasury, the Secretary of State, and the Secretary of Commerce, and is disseminated as widely as possible to large and small businesses.

48 22 U.S.C. 2629. Originally enacted as sec. 3202 of the Omnibus Trade and Competitiveness Act of 1988 (Public Law 100-418; 102 Stat. 1107), sec. 541(bX1) of the International Development and Finance Act of 1989 (Public Law 101-240; 103 Stat. 2517) transferred text to this Act and redesignated such as sec. 1801.

19 22 U.S.C. 2628-1.

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