§ 262p-4b. — Directives regarding governmentowned enterprises in countries receiving World Bank loans.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC262p-4b]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
Sec. 262p-4b. Directives regarding government-owned enterprises
in countries receiving World Bank loans
(a) Finding
The Congress finds that a principal focus of United States
Government policy in the multilateral development banks has been and
should be to foster greater development of the private sector in member
borrowing countries of such banks.
(b) Technical assistance to transform government-owned enterprises into
privately owned enterprises
In order to assist and strengthen the advancement of ongoing efforts
to have the International Bank for Reconstruction and Development play a
key role in building a viable private sector in member borrowing
countries of such bank, and to further assist such bank in its
determination to facilitate the transfer of government-owned enterprises
in such countries to private ownership, the Secretary of the Treasury
shall instruct the United States Executive Director of such bank to
vigorously encourage the provision of technical assistance to such
countries (relying, where appropriate, on the expertise of the
International Finance Corporation or the Multilateral Investment
Guarantee Agency) to transform enterprises owned, in whole or part, by
the governments of such countries into privately owned, self-sufficient
enterprises. Such technical assistance may involve the valuation of the
assets of such government-owned enterprises, the assessment of tender
offers, and the creation or strengthening of market-based mechanisms to
facilitate such a transfer of ownership.
(c) Reports
(1) In general
The United States Executive Director of the International Bank
for Reconstruction and Development shall submit 3 reports to the
Congress on--
(A) the progress made in transforming government-owned
enterprises into privately owned enterprises as described in
subsection (b) of this section;
(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 borrowing
countries.
(2) Timing
The United States Executive Director of the International Bank
for Reconstruction and Development shall submit to the Congress the
first report required by paragraph (1) within 1 year after October
1, 1988, and shall submit additional reports 12 months, and 24
months, after the date the first report is submitted.
(Pub. L. 95-118, title XVI, Sec. 1607, as added Pub. L. 100-461, title
V, Sec. 555, Oct. 1, 1988, 102 Stat. 2268-36.)
Codification
Section 1607 of Pub. L. 95-118 is based on section 7 of H.R. 4645,
One Hundredth Congress, as reported Sept. 28, 1988, and enacted into law
by Pub. L. 100-461.
Definitions
The definitions in section 262p-5 of this title apply to this
section.
