|
U.S. Code as of:
01/19/04
Section 262p. Impact adjustment lending programs
(a) Establishment of guidelines; impact statements
The Secretary of the Treasury shall instruct the United States
Executive Director of the International Bank for Reconstruction and
Development and the International Development Association to
initiate discussions with other directors of the respective
institutions and to propose that -
(1) guidelines be established which reflect clear and tangible
concern for the impact adjustment lending programs, and the
activities in support of which such lending is made, have and
will have on human welfare; and
(2) impact statements be required which assess the effect an
adjustment lending program, and the activities in support of
which such lending is made, will have on the poor of the country
to which such lending is made.
(b) Proposed contents of impact statements
In the discussions referred to in subsection (a) of this section
with respect to the impact statement described in paragraph (2) of
such subsection, the United States Executive Director should
propose that such impact statements -
(1) specify what the projected effects of the adjustment loan
will be on the poor;
(2) explain what procedures have been or will be taken to
strengthen the in-country capacity of the borrower to -
(A) monitor nutrition levels in a timely manner; and
(B) measure the impact an adjustment loan, and the policies
and activities in support of which such loan is made, has on
the living standards of the country's population, especially
the poorest; and
(3) indicate specifically what steps the borrower will take to
-
(A) mitigate any adverse effect the policies and activities
in support of which an adjustment loan is made are expected to
have on the living standards of the poor (including the use of
the proceeds of any adjustment loan, project aid, or other
compensatory measure to mitigate such effect); and
(B) maximize the extent of the participation of the poor in
the economic benefits resulting from an adjustment loan.
(c) Report to member governments by United States Executive
Director of International Bank for Reconstruction and Development
and by International Development Association
The Secretary of the Treasury shall instruct the United States
Executive Director of the International Bank for Reconstruction and
Development and the International Development Association to
request the management of the respective institutions to prepare a
report for distribution to member governments no later than June
30, 1988, that -
(1) assesses the impact on the poor of structural adjustment in
countries to which structural adjustment lending has been made;
and
(2) specifies the steps that have been or will be taken by the
respective institution to -
(A) mitigate any adverse effect of adjustment lending, and
the activities in support of which such lending is made, on the
living standards of the poor in the countries to which such
loans are made; and
(B) ensure the participation of the poor in the economic
benefits resulting from adjustment lending and the activities
in support of which such lending is made.
(d) "Adjustment lending" defined
For purposes of this section and section 262m-1 of this title,
the term "adjustment lending" means nonproject lending in support
of structural macroeconomic reforms or sectoral economic reform.
|
|