2019 US Code
Title 22 - Foreign Relations and Intercourse
Chapter 7 - International Bureaus, Congresses, Etc.
Sec. 262p-2 - Instructions to United States Executive Directors for extension of credit
| 22 U.S.C. § 262p-2 (2019) |
| §262p–2. Instructions to United States Executive Directors for extension of credit |
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(a) International Bank for Reconstruction and Development; International Development Association; access of poor to formal sources of credit; identification and removal of barriers to extension of credit generally and to provisions of credit to microenterprises
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 such Bank or Association and to propose that— (1) in carrying on the activities of the Bank or Association, the Bank or Association take such steps as may be necessary to increase access for the poor people of a borrowing country to formal sources of credit; and (2) the Bank or Association include a requirement in all appropriate project and nonproject agreements, as a condition for assistance under such agreements, that the borrowing country identify and remove unreasonable legal and regulatory barriers to— (A) the establishment or operation of organizations which extend credit; and (B) the provision of credit to microenterprises for small scale economic activities. The Secretary of the Treasury shall instruct the United States Executive Directors of the African Development Bank and the Asian Development Bank to initiate discussions with other directors of the respective banks and to propose that each such bank— (1) examine the Program for the Financing of Small Projects of the Inter-American Development Bank and the steps taken by such bank to link the Program to the mainstream operation of the bank; and (2) explore ways and means to establish similar programs within the respective banks to provide credit to microenterprises for small scale economic activities. Each annual report to the Congress by the National Advisory Council on International Monetary and Financial Policies shall describe the status of the microenterprise credit promotion activities of each of the institutions referred to in subsection (a) or (b). |
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(Pub. L. 95–118, title XVI, §1603, as added Pub. L. 100–202, §101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.) |
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CODIFICATION
Section 1603 of Pub. L. 95–118 is 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. DEFINITIONSThe definitions in section 262p–5 of this title apply to this section. |
| United States Code, 2018 Edition, Supplement 1, Title 22 - FOREIGN RELATIONS AND INTERCOURSE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC. Sec. 262p-2 - Instructions to United States Executive Directors for extension of credit |
| section 262p-2 |
| 2019 |
| January 24, 2020 |
| No |
| standard |
| 101 Stat. 1329-131 |
| Public Law 95-118, Public Law 100-202 |
