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U.S. Code as of:
01/19/04
Section 635i-5. Environmental policy and procedures
(a) Environmental effects consideration
(1) In general
Consistent with the objectives of section 635(b)(1)(A) of this
title, the Bank shall establish procedures to take into account
the potential beneficial and adverse environmental effects of
goods and services for which support is requested under its
direct lending and guarantee programs. Such procedures shall
apply to any transaction involving a project -
(A) for which long-term support of $10,000,000 or more is
requested from the Bank;
(B) for which the Bank's support would be critical to its
implementation; and
(C) which may have significant environmental effects upon the
global commons or any country not participating in the project,
or may produce an emission, an effluent, or a principal product
that is prohibited or strictly regulated pursuant to Federal
environmental law.
(2) Authority to withhold financing
The procedures established under paragraph (1) shall permit the
Board of Directors, in its judgment, to withhold financing from a
project for environmental reasons or to approve financing after
considering the potential environmental effects of a project.
(b) Use of Bank programs to encourage certain exports
(1) In general
The Bank shall encourage the use of its programs to support the
export of goods and services that have beneficial effects on the
environment or mitigate potential adverse environmental effects
(such as exports of products and services used to aid in the
monitoring, abatement, control, or prevention of air, water, and
ground contaminants or pollution, or which provide protection in
the handling of toxic substances, subject to a final
determination by the Bank, and products and services for foreign
environmental projects dedicated entirely to the prevention,
control, or cleanup of air, water, or ground pollution, including
facilities to provide for control or cleanup, and used in the
retrofitting of facility equipment for the sole purpose of
mitigating, controlling, or preventing adverse environmental
effects, subject to a final determination by the Bank). The Board
of Directors shall name an officer of the Bank to advise the
Board on ways that the Bank's programs can be used to support the
export of such goods and services. The officer shall act as
liaison between the Bank and other Federal Government agencies,
including the agencies whose representatives are members of the
Environmental Trade Promotion Working Group of the Trade
Promotion Coordinating Committee, with respect to overall United
States Government policy on the environment.
(2) Limitations on authorization of appropriations
In addition to other funds available to support the export of
goods and services described in paragraph (1), there are
authorized to be appropriated to the Bank not more than
$35,000,000 for the cost (as defined in section 661a(5) of title
2) of supporting such exports. If, in any fiscal year, the funds
appropriated in accordance with this paragraph are not fully
utilized due to insufficient qualified transactions for the
export of such goods and services, such funds may be expended for
other purposes eligible for support by the Bank.
(c) Inclusion in report to Congress
The Bank shall provide in its annual report to the Congress a
summary of its activities under subsections (a) and (b) of this
section.
(d) Interpretation
Nothing in this section shall be construed to create any cause of
action.
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