§ 286ii. — Limitations on Bank policy based lending; actions required to be taken to oppose excessive policy based lending by Bank.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC286ii]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XV--INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION
AND DEVELOPMENT
Sec. 286ii. Limitations on Bank policy based lending; actions
required to be taken to oppose excessive policy based lending by
Bank
The Secretary of the Treasury shall--
(1) take all necessary steps to encourage the International Bank
for Reconstruction and Development to limit--
(A) the aggregate value of the policy based loans made by
such bank (other than for the purpose described in section
286hh(b) of this title) in any fiscal year of such bank
beginning after June 30, 1989, to 25 percent of the aggregate
value of all loans made by such bank in such fiscal year; and
(B) the aggregate value of the policy based loans made by
such bank to the government of a particular country (other than
for the purpose described in section 286hh(b) of this title) in
any fiscal year of such bank beginning after June 30, 1989, and
occurring during any period of 3 consecutive fiscal years of
such bank (determined after disregarding any such fiscal year in
which such bank did not make a policy based loan to such
government), to 50 percent of the aggregate value of all loans
made by such bank to such government during such 3-year period;
(2) instruct the United States Executive Director of such bank
to propose and actively seek the adoption by the board of Executive
Directors of such bank of a resolution establishing as official bank
operating policy for fiscal years 1990 through 1995 of such bank the
limits specified in paragraph (1); and
(3) until the resolution described in paragraph (2) is adopted,
undertake, in consultation with the Secretary of State, discussions
with other member country governments to secure the consent and
cooperation of such governments with respect to the adoption of the
limits specified in paragraph (1).
(Pub. L. 100-461, title V, Sec. 555, Oct. 1, 1988, 102 Stat. 2268-36.)
Codification
Section is based on section 4 of H.R. 4645, One Hundredth Congress,
as reported Sept. 28, 1988, and enacted into law by Pub. L. 100-461.
Section was not enacted as part of act July 31, 1945, ch. 339, 59
Stat. 512, known as the Bretton Woods Agreements Act, which comprises
this subchapter.
