22 U.S.C. § 2281 — “Debt-for-nature exchange” defined
submitted 37 years ago by Pub. L. 87-195 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 109 words · no verdicts yet
A “debt-for-nature exchange” is cancellation or redemption of a country’s foreign debt in return for local currency for eligible conservation projects, resource-protection commitments, or both.
For this part, “debt-for-nature exchange” means canceling or redeeming a foreign government’s debt in exchange for: (1) that government making local currency available, including by issuing bonds, for use only on eligible projects conserving or protecting that country’s environment, as described in section 2283; (2) that government’s financial resources or policy commitment to specified actions restoring, protecting, or sustainably using natural resources in that country; or (3) a combination of assets and actions under (1) and (2).
For purpose of this part, the term “debt-for-nature exchange” means the cancellation or redemption of the foreign debt of the government of a country in exchange for—
that government’s making available local currencies (including through the issuance of bonds) which are used only for eligible projects involving the conservation or protection of the environment in that country (as described in section 2283 of this title); or
that government’s financial resource or policy commitment to take certain specified actions to ensure the restoration, protection, or sustainable use of natural resources within that country; or
a combination of assets and actions under both paragraphs (1) and (2).
Source credit: (Pub. L. 87–195, pt. I, § 461 [471], as added Pub. L. 101–240, title VII, § 711, Dec. 19, 1989, 103 Stat. 2521.)
- 1989Enacted · Pub. L. 87-195 · 103 Stat. 2521
A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-195 on 1989-12-19.
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