§ 262p-4e. — Extent to which borrowing country governments have honored debtfordevelopment swap agreements to be considered as factor in making loans to such borrowers.
[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-4e]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
Sec. 262p-4e. Extent to which borrowing country governments have
honored debt-for-development swap agreements to be considered as
factor in making loans to such borrowers
(a) In general
The Secretary of the Treasury shall instruct the United States
Executive Director of the International Bank for Reconstruction and
Development to initiate discussions with the directors of such bank and
propose that such bank consider, as an important factor in making loans
to borrowing country governments, the history of compliance by such
governments with, and the extent to which such governments have honored,
agreements entered into by such governments as part of any debt-for-
development swap which requires such governments to set aside or
otherwise limit the use of real property to conservation purposes.
(b) Definitions
As used in this section:
(1) Debt-for-development swap
The term ``debt-for-development swap'' means the purchase of
qualified debt by, or the donation of such debt to, an organization
described in section 501(c)(3) of title 26 which is exempt from
taxation under section 501(a) of title 26, and the subsequent
transfer of such debt to an organization located in such foreign
country in exchange for an undertaking by such tax-exempt
organization, such foreign government, or such foreign organization
to engage in a charitable, educational, or scientific activity.
(2) Qualified debt
The term ``qualified debt'' means--
(A) sovereign debt issued by a foreign government;
(B) debt owed by private institutions in the country
governed by such foreign government; and
(C) debt owed by institutions in the country governed by
such foreign government which are owned, in part, by private
persons and, in part, by public institutions.
(Pub. L. 95-118, title XVI, Sec. 1610, as added Pub. L. 100-461, title
V, Sec. 555, Oct. 1, 1988, 102 Stat. 2268-36.)
Codification
Section 1610 of Pub. L. 95-118 is based on section 10 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.
