§ 635i-5. — Environmental policy and procedures.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC635i-5]
TITLE 12--BANKS AND BANKING
CHAPTER 6A--EXPORT-IMPORT BANK OF THE UNITED STATES
SUBCHAPTER I--GENERAL PROVISIONS
Sec. 635i-5. Environmental policy and procedures
(a) Environmental effects consideration
(1) In general
Consistent with the objectives of section 635(b)(1)(A) of this
title, the Bank shall establish procedures to take into account the
potential beneficial and adverse environmental effects of goods and
services for which support is requested under its direct lending and
guarantee programs. Such procedures shall apply to any transaction
involving a project--
(A) for which long-term support of $10,000,000 or more is
requested from the Bank;
(B) for which the Bank's support would be critical to its
implementation; and
(C) which may have significant environmental effects upon
the global commons or any country not participating in the
project, or may produce an emission, an effluent, or a principal
product that is prohibited or strictly regulated pursuant to
Federal environmental law.
(2) Authority to withhold financing
The procedures established under paragraph (1) shall permit the
Board of Directors, in its judgment, to withhold financing from a
project for environmental reasons or to approve financing after
considering the potential environmental effects of a project.
(b) Use of Bank programs to encourage certain exports
(1) In general
The Bank shall encourage the use of its programs to support the
export of goods and services that have beneficial effects on the
environment or mitigate potential adverse environmental effects
(such as exports of products and services used to aid in the
monitoring, abatement, control, or prevention of air, water, and
ground contaminants or pollution, or which provide protection in the
handling of toxic substances, subject to a final determination by
the Bank, and products and services for foreign environmental
projects dedicated entirely to the prevention, control, or cleanup
of air, water, or ground pollution, including facilities to provide
for control or cleanup, and used in the retrofitting of facility
equipment for the sole purpose of mitigating, controlling, or
preventing adverse environmental effects, subject to a final
determination by the Bank). The Board of Directors shall name an
officer of the Bank to advise the Board on ways that the Bank's
programs can be used to support the export of such goods and
services. The officer shall act as liaison between the Bank and
other Federal Government agencies, including the agencies whose
representatives are members of the Environmental Trade Promotion
Working Group of the Trade Promotion Coordinating Committee, with
respect to overall United States Government policy on the
environment.
(2) Limitations on authorization of appropriations
In addition to other funds available to support the export of
goods and services described in paragraph (1), there are authorized
to be appropriated to the Bank not more than $35,000,000 for the
cost (as defined in section 661a(5) of title 2) of supporting such
exports. If, in any fiscal year, the funds appropriated in
accordance with this paragraph are not fully utilized due to
insufficient qualified transactions for the export of such goods and
services, such funds may be expended for other purposes eligible for
support by the Bank.
(c) Inclusion in report to Congress
The Bank shall provide in its annual report to the Congress a
summary of its activities under subsections (a) and (b) of this section.
(d) Interpretation
Nothing in this section shall be construed to create any cause of
action.
(July 31, 1945, ch. 341, Sec. 11, formerly Sec. 17, as added and
renumbered Sec. 11, Pub. L. 102-429, title I, Secs. 106, 121(c)(5), Oct.
21, 1992, 106 Stat. 2189, 2199; amended Pub. L. 103-428, Sec. 2(a), Oct.
31, 1994, 108 Stat. 4376.)
Codification
Another section 11 of act July 31, 1945, ch. 341, was renumbered
section 14 and is classified to section 635i-8 of this title.
Prior Provisions
A prior section 11 of act July 31, 1945, ch. 341, was renumbered
section 9 and is classified to section 635h of this title.
Amendments
1994--Subsec. (b). Pub. L. 103-428 inserted par. (1) designation and
heading, inserted before period at end of first sentence ``(such as
exports of products and services used to aid in the monitoring,
abatement, control, or prevention of air, water, and ground contaminants
or pollution, or which provide protection in the handling of toxic
substances, subject to a final determination by the Bank, and products
and services for foreign environmental projects dedicated entirely to
the prevention, control, or cleanup of air, water, or ground pollution,
including facilities to provide for control or cleanup, and used in the
retrofitting of facility equipment for the sole purpose of mitigating,
controlling, or preventing adverse environmental effects, subject to a
final determination by the Bank)'', and added par. (2).
