Page:United States Statutes at Large Volume 101 Part 2.djvu/505

 PUBLIC LAW 100-202—DEC. 22, 1987

101 STAT. 1329-162

(5) conduct analyses of the comparative costs of new generating facilities with the cost of increasing energy efficiency in the project service area. (b) The Secretary of the Treasury shall instruct the United States Executive Directors of the MDB's and, where appropriate, the International Monetary Fund (IMF) to— (1) promote the requirement that all country lending strate- Loans. gies, policy based loans and adjustment programs contain analyses of the impact of such activities on the natural resources, potential for sustainable development, and legal protections for the land rights of indigenous peoples; (2) promote the establishment of programs of policy-based lending in order to improve natural resource management, environmental quality, and protection of biological diversity; (3) seek a commitment of these institutions to promote the conservation of wetlands, tropical forests, and other unique biological and highly productive ecosystems. (c) The Secretary of the Treasury shall undertake an analysis of potential initiatives, to be implemented through the MDB's, the IMF and other existing or newly created institutions, to enable developing countries to repay portions of their outstanding debt through investments in conservation of tropical forests, wetlands and other conservation activities. The Secretary of the Treasury shall report Reports. his findings and implementation plan (including projected timetable) for such "debt for conservation" initiatives including, but not limited to conservation exchanges, to the Committees on Appropriations by April 1, 1988. Initiatives to be considered shall include, but not be limited to— (1) the operation of mechanisms to purchase, at market discounts, developing country debt in exchange for domestic currency investments in conservation at the full par value of the purchased debt; (2) the operation of mechanisms to reschedule substantial . amounts of developing country debt to longer term maturities with reduced interest rates in exchange for borrower country conservation investment in local currencies; and (3) the establishment of programs by the World Bank and IMF to encourage the private purchase of developing country debt at discount rates in exchange for local currency conservation investments at the full par value of such debt. (d) In order to promote sustainable and non-chemical dependent agriculture, the Secretary of the Treasury shall instruct the United States Executive Directors of the MDB's to initiate discussions with other directors of the MDB's to propose that policies be established that integrated pest management and biological control of pests be a preferential and priority approach to pest management on all bank sponsored agricultural projects. (e) The Secretary of the Treasury shall instruct the United States Executive Director to the International Monetary Fund to promote the requirement that the IMF conduct an in-depth analysis of the impact of its adjustment policies and conditionality of its lending facilities on the environment, public health, natural resources and indigenous people. (f) No later than March 30, 1988, the Secretary of State and the Administrator of the Agency for International Development shall initiate discussions with other donor nations, to explore ways in which said donor nations can support the addition of professionals


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