22 U.S.C. § 262o — Negotiations concerning replenishment or increase in capital; annual reports on implementation of lending policy goals

submitted 39 years ago by Pub. L. 95-118 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 418 words · no verdicts yet

in plain englishAI-generated · not legal advice

In bank funding negotiations, the Treasury Secretary must push for institutional reforms benefiting the poor. These include better oversight, more environmental and social staff, and longer board review periods. Banks must also report yearly on their best lending practices.

(a) In any negotiations about replenishing or increasing capital for a multilateral development bank, the Secretary of the Treasury must propose these institutional reforms as a main negotiating point: (1) Setting up a unified program at each bank to assess how much bank lending benefits society's least advantaged members, especially women and the poor, and to increase that benefit in future lending. (2) Setting up an office or procedures at each bank to: (A) provide in-country liaison services for non-governmental organizations working at the community level; (B) monitor how project and non-project lending affects local populations; and (C) ensure compliance with loan conditions, especially conditions protecting the poor's quality of life and the rights of indigenous minorities. (3) Substantially increasing the number of professional staff at each regional bank trained in environmental or social impact analysis or natural science, including (A) hiring more permanent professional staff, and (B) training existing staff in these subjects. (4) At the International Bank for Reconstruction and Development, setting up a policy-based lending program to promote sustainable use of renewable resources and environmental protection in borrowing countries. (5) Extending the review period before any bank's board votes on staff recommendations, long enough for member governments to review and comment before the board acts. (b) The Secretary of the Treasury must instruct the U.S. Executive Director of each multilateral development bank to ask the bank's management to prepare an annual report. This report must identify and describe the best lending practices or loan components carried out the previous year, for each major borrowing country or country group, regarding these goals: (1) Benefiting the poor. (2) Involving non-governmental organizations and local and indigenous populations in loan design, implementation, planning, and monitoring. (3) Integrating and considering environmental quality and sustainable natural-resource use in loan design, implementation, planning, and monitoring. (4) Recognizing and supporting women's economic and social development.

the actual law source: uscode.house.gov ↗public domain

(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.

Source credit: (Pub. L. 95–118, title XV, § 1501, as added Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.)

history & why it existsrecord from the source credit

1987Enacted · Pub. L. 95-118 · 101 Stat. 1329

A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-118 on 1987-12-22.

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