§ 262p-4j. — Promotion of lending for environment.
[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-4j]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
Sec. 262p-4j. Promotion of lending for environment
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 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 resource 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.
(Pub. L. 95-118, title XVI, Sec. 1615, as added Pub. L. 101-240, title
V, Sec. 512, Dec. 19, 1989, 103 Stat. 2510.)
Definitions
The definitions in section 262p-5 of this title apply to this
section.
