Page:United States Statutes at Large Volume 103 Part 3.djvu/430

 103 STAT. 2498 PUBLIC LAW 101-240—DEC. 19, 1989 "(2) the Bank has implemented and is continuing to imple- ment revised procedures issued in 1988 for collecting loan serv- ices payments in arrears; "(3) the revised procedures referred to in paragraph (2) satisfy the recommendations of the Auditor General of the Bank; and "(4) the Comptroller General of the United States has access to all documents of the Bank on the same terms and under the same conditions as such documents are made available to the United States Executive Director of the Bank.". SEC. 202. INVESTMENT IN HUMAN CAPITAL. (a) PROMOTION OP LENDING IN SUPPORT OF HUMAN CAPITAL. — The Inter-American Development Bank Act (22 U.S.C. 283 et seq.) is amended by adding after the section added by section 201 of this Act the following: 22 USC 283Z-6. "SEC. 34. INVESTMENT IN HUMAN CAPITAL. "(a) IN GENERAL.—The Secretary of the Tresisury shall instruct the United States Executive Director of the Inter-American Devel- opment Bank to propose and use the voice and vote of such director, during the 4-year period beginning on Januanr 1, 1990, to vigorously promote an increase in the proportion of Bank lending in support of projects and programs which support investments in human capital and to seek the rapid implementation by the Bank of systematic mechanisms of consultation with locally affected populations in borrower countries either directly or through appropriate represent- ative non-governmental organizations. "(b) INVESTMENTS IN HUMAN CAPITAL DEFINED. —As used in subsection (a), the term 'investments in human capital' means investments in projects, policies, and programs designed to improve urban and rural health care and sanitation, basic nutrition, edu- cation, the small-producer private sector, the economic activities of women, and the development of indigenous non-governmental organizations.". 22 USC 283Z-6 (b) REPORT TO THE CONGRESS.—The Chairman of the National note. Advisory CouncU on International Monetary and Financial Policies shall include in the report required by section 1701 of the Inter- national Financial Institutions Act for fiscal year 1991 a report on the efforts undertaken by the United States Executive Director of the Inter-American Development Bank, and the progress to date, in achieving the objectives of section 34 of the Inter-American Develop- ment Bank Act. SEC. 203. LIMITATIONS ON INTER-AMERICAN DEVELOPMENT BANK POLICY BASED LENDING. The Inter-American Development Bank Act (22 U.S.C. 283 et seq.) is amended by adding after the section added by section 202 of thus Act the following: 22 USC 283Z-7. "SEC. 35. 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

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