22 U.S.C. § 262p–4d — Initiation of discussions to facilitate financing of human welfare and natural resource programs in sub-Saharan Africa in connection with debt reduction and conversion

(a) Findings Congress finds that: (1) the heavy debt burden on sub-Saharan governments makes it harder for them to fund projects for charitable, educational, and scientific purposes — including education, human welfare, health, farm research, and conserving natural resources; and (2) financing such programs should be made easier as part of reducing and converting sub-Saharan governments' sovereign debt, as encouraged at the June 1988 Toronto economic summit, through means such as (A) lower interest rates, (B) longer repayment periods, or (C) partially or fully writing off debt service obligations. (b) Initiation of discussions The Treasury Secretary must instruct the U.S. representative at the African Development Bank and African Development Fund to start discussions with those institutions' directors and propose that they, together with the World Bank, the International Development Association, and the International Finance Corporation as appropriate, give advice and help to government creditors holding sub-Saharan sovereign debt, and to sub-Saharan governments that want to use local currency freed up by debt reduction and conversion to fund charitable, educational, and scientific purposes — including conserving and restoring natural resources — as a condition of reducing or converting that debt.