§ 262g-2. — Establishment of guidelines for international financial institutions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC262g-2]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
Sec. 262g-2. Establishment of guidelines for international
financial institutions
(a) Consultation with representatives of member countries
The Secretary of the Treasury shall consult with representatives of
other member countries of the International Bank for Reconstruction and
Development, the International Development Association, the Asian
Development Bank, the African Development Fund, and the African
Development Bank (if the United States becomes a member of that Bank),
for the purpose of establishing guidelines within each of those
institutions which specify that, in a manner consistent with the
purposes and charters of those institutions, a specified proportion of
the annual lending by each institution shall be designed to benefit
needy people, primarily by financing sound, efficient, productive, self-
sustaining projects designed to benefit needy people in developing
countries, thus helping poor people improve their conditions of life.
(b) Congressional findings regarding implementation of objectives
The Congress finds that projects to construct basic infrastructure,
to expand productive capacity (including private enterprise), and to
address social problems can all meet the objectives of this section if
they are designed and implemented properly. For the purposes of this
title, ``needy people'' means those people living in ``absolute'' or
``relative'' poverty as determined under the standards employed by the
International Bank for Reconstruction and Development and the
International Development Association.
(Pub. L. 95-118, title XI, Sec. 1102, as added Pub. L. 97-35, title
XIII, Sec. 1361(b), Aug. 13, 1981, 95 Stat. 745.)
References in Text
This title, referred to in subsec. (b), is title XI (Secs. 1101-
1103) of Pub. L. 95-118, as added by Pub. L. 97-35, title XIII,
Sec. 1361(b), Aug. 13, 1981, 95 Stat. 745, which enacted sections 262g-1
and 262g-2 of this title and enacted a provision set out as a note
below. For complete classification of title XI to the Code, see Tables.
Effective Date
Section effective Aug. 13, 1981, see section 1372 of Pub. L. 97-35,
set out as a note under section 290i of this title.
Reports to Congress
Section 1103 of Pub. L. 95-118, as added by Pub. L. 97-35, title
XIII, Sec. 1361(b), Aug. 13, 1981, 95 Stat. 746, required reports on the
progress being made toward achieving the goals of this section, prior to
repeal by Pub. L. 101-240, title V, Sec. 541(d)(4), Dec. 19, 1989, 103
Stat. 2518.
