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 directors of such bank and propose that such bank consider, as an important factor in making loans to borrowing country governments, the history of compliance by such governments with, and the extent to which such governments have honored, agreements entered into by such governments as part of any debt-for-development swap which requires such governments to set aside or otherwise limit the use of real property to conservation purposes.
As used in this section:
(1) Debt-for-development swap
The term “debt-for-development swap” means the purchase of qualified debt by, or the donation of such debt to, an organization described in section
501(c)(3) of title
26 which is exempt from taxation under section
501(a) of title
26, and the subsequent transfer of such debt to an organization located in such foreign country in exchange for an undertaking by such tax-exempt organization, such foreign government, or such foreign organization to engage in a charitable, educational, or scientific activity.
(2) Qualified debt
The term “qualified debt” means—
(A)sovereign debt issued by a foreign government;
(B)debt owed by private institutions in the country governed by such foreign government; and
(C)debt owed by institutions in the country governed by such foreign government which are owned, in part, by private persons and, in part, by public institutions.
The definitions in section
262p–5 of this title apply to this section.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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