[USC02] 22 USC 283z-7: Limitations on policy based lending
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22 USC 283z-7: Limitations on policy based lending Text contains those laws in effect on November 17, 2017
From Title 22-FOREIGN RELATIONS AND INTERCOURSECHAPTER 7-INTERNATIONAL BUREAUS, CONGRESSES, ETC.SUBCHAPTER XII-INTER-AMERICAN DEVELOPMENT BANK
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§283z–7. Limitations on policy based lending

The Secretary of the Treasury shall-

(1) take all necessary steps to encourage the Bank to limit the aggregate value of the policy based loans made by the Bank (other than policy based loans made to any country which the Bank has determined is economically less developed or has a limited market economy, which are used to purchase sovereign debt of such country or to reduce the debt or debt service burden of such country) during the 4-year period beginning on January 1, 1990, to 25 percent of the aggregate value of all loans made by the Bank during such 4-year period;

(2) take all necessary steps to encourage the Bank to limit the aggregate value of the policy based loans made by the Bank to the government of a particular country during such 4-year period, to 50 percent of the aggregate value of all loans made by the Bank to such government during such 4-year period;

(3) instruct the United States Executive Director of the Bank to explore with the other Executive Directors of the Bank ways to use a portion of the resources made available to the Bank by reason of the subscription and contribution described in section 283z–5(a)(2) of this title for debt reduction and debt service reduction for countries described in paragraph (1); and

(4) before the end of the 12-month period beginning on December 19, 1989, report to the Congress on the matters described in paragraph (3).

(Pub. L. 86–147, §35, as added Pub. L. 101–240, title II, §203, Dec. 19, 1989, 103 Stat. 2498 .)