22 U.S.C. § 262p–4b — Directives regarding government-owned enterprises in countries receiving World Bank loans

(a) Finding Congress finds that a main goal of U.S. policy at multilateral development banks has been, and should be, to build up the private sector in borrowing member countries. (b) Technical assistance to transform government-owned enterprises into privately owned enterprises To support the World Bank's efforts to build a strong private sector in borrowing countries and help move government-owned businesses to private ownership, the Treasury Secretary must instruct the U.S. representative at the World Bank to strongly push for technical assistance to these countries. This help — which can draw on expertise from the International Finance Corporation or Multilateral Investment Guarantee Agency — is meant to turn businesses that governments own, in whole or part, into privately owned, self-sufficient companies. The technical assistance may cover valuing the assets of these government-owned businesses, assessing offers to buy them, and building or strengthening market-based ways to transfer ownership. (c) Reports (1) In general — The U.S. representative at the World Bank must submit three reports to Congress on: (A) progress transforming government-owned enterprises into private ones as described in (b); (B) how the resulting privately owned enterprises are performing; and (C) how development finance companies are helping strengthen the private sector in borrowing countries. (2) Timing — The first report is due within 1 year after October 1, 1988. Additional reports are due 12 months and 24 months after the first report.