22 U.S. Code § 262p - Impact adjustment lending programs
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(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
(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—
(2) explain what procedures have been or will be taken to strengthen the in-country capacity of the borrower to—
(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
(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
(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.
Source(Pub. L. 95–118, title XVI, § 1601, as added Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.)
Section 1601 ofPub. L. 95–118is based on section 701 of title VII of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L. 100–202.
The definitions in section 262p–5 of this title apply to this section.