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U.S. Code as of:
01/19/04
Section 262p-4j. Promotion of lending for environment
The Secretary of the Treasury shall instruct the United States
Executive Director of the International Bank for Reconstruction and
Development to initiate discussions with the other executive
directors of such bank and the management of such bank and propose
that, in order to reduce the future need for bank lending for
reforestation and restoration of environmentally degraded areas,
the bank establish a project and policy based environmental lending
program (including a loan a portion of which could be used to
reduce and restructure private debt), to be made available to
interested countries with a demonstrated commitment to natural
resource conservation, which would be based on -
(1) the estimated long-term economic return which could be
expected from the sustainable use and protection of tropical
forests, including the value of tropical forests for indigenous
people and for science;
(2) the value derived from such services as -
(A) watershed management;
(B) soil erosion control;
(C) the maintenance and improvement of -
(i) fisheries;
(ii) water supply regulation for industrial development;
(iii) food;
(iv) fuel;
(v) fodder; and
(vi) building materials for local communities;
(D) the extraction of naturally occurring products from
locally controlled protected areas; and
(E) indigenous knowledge of the management and use of natural
resources; and
(3) the long-term benefits expected to be derived from
maintaining biological diversity and climate stabilization.
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