§ 262o. — Negotiations concerning replenishment or increase in capital; annual reports on implementation of lending policy goals.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC262o]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
Sec. 262o. Negotiations concerning replenishment or increase in
capital; annual reports on implementation of lending policy
goals
(a) In any negotiations concerning replenishment or an increase in
capital for any multilateral development bank, the Secretary of the
Treasury shall propose, as a principal point for negotiations, the
following institutional reforms:
(1) The establishment of a unified program within each
multilateral development bank to assess the extent to which bank
lending benefits the least advantaged members of society,
particularly women and the poor, and to increase the extent to which
such members benefit from future bank lending.
(2) The establishment of an office or other administrative
procedures within each multilateral development bank to--
(A) provide in-country liaison services for nongovernmental
organizations operating at the community level;
(B) monitor the impact of project and nonproject lending on
local populations; and
(C) ensure compliance with loan conditionalities, especially
loan conditionalities relating to the protection of the quality
of life of the poor and the rights of aboriginal minorities.
(3) A major increase in the number of members of the
professional staff of each regional multilateral development bank
with training in environmental or social impact analysis or natural
science, including--
(A) recruitment of additional permanent professional staff;
and
(B) training programs for existing staff members in these
subject areas.
(4) With respect to the International Bank for Reconstruction
and Development, the establishment of a program for policy-based
lending to promote the sustainable use of renewable resources and
the protection of the environment in borrowing countries.
(5) An increase in the length of any review period established
by any multilateral development bank for board review of staff
recommendations by such time as would be sufficient to allow the
governments of member countries to review and comment on the staff
recommendations before any action is taken by the board of directors
of such bank on the recommendations.
(b) The Secretary of the Treasury shall instruct the United States
Executive Director of each multilateral development bank to request the
management of such bank to prepare an annual report which identifies and
describes the most exemplary lending practices or loan components
implemented during the preceding year with respect to each of the
following lending policy goals for each major borrowing country or
country group:
(1) Benefit to the poor.
(2) Involvement of nongovernmental organizations and local and
indigenous populations in loan design, implementation, planning, and
monitoring.
(3) Integration of, consideration of, and concern for
environmental quality and the sustainable use of natural resources
into loan design, implementation, planning, and monitoring.
(4) Recognition of and support for the economic and social
development of women.
(Pub. L. 95-118, title XV, Sec. 1501, as added Pub. L. 100-202,
Sec. 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329-131, 1329-134.)
Codification
Section 1501 of Pub. L. 95-118 is based on section 701 of title VII
of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and
enacted into law by Pub. L. 100-202.
Definitions
The definitions in section 262p-5 of this title apply to this
section.
