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U.S. Code as of:
01/19/04
Section 262o. Negotiations concerning replenishment or increase in capital; annual reports on implementation of lending policy goals
(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.
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