Page:United States Statutes at Large Volume 103 Part 3.djvu/439

 PUBLIC LAW 101-240—DEC. 19, 1989 103 STAT. 2507 "(7) Such bank should adopt, as a separate and major cri- terion in the allocation of concessional fin£incing resources, a preferential allocation to each country which undertakes significant efforts to enhance the productive economic participa- tion of the poor. "(8) Such bank should require each country which receives structural adjustment assistance to have in place, after a reasonable phase-in period, a strategy to enhance the produc- tive economic participation of the poor. "(b) PROGRESS REPORT.— Before the end of the 1-year period begin- ning on the date of the enactment of this section, the Secretary of the Treasury shall submit to the Committee on Banking, Finance and Urban Affairs and the Committee on Appropriations of the v House of Representatives, and the Committee on Foreign Relations and the Committee on Appropriations of the Senate, a report on the following: "(1) The status of advocacy and progress being made to imple- ment the objectives of subsection (a), describing the success to date, the obstacles encountered, and future expectations of progress. "(2) A description of the progress to date in achieving the purposes of section 1611, including the institutional capacity and effort devoted to assisting in the development of statistical measures to assess the well-being of the poor. "(3) A description and evaluation of the progress to date in developing effective mechanisms for involving non-govern- mental organizations, directly or indirectly, in the design, implementation, and monitoring of development projects, pro- grams, and policies of the multilateral development banks.". Subtitle B—International Debt Exchanges and the Environment SEC 511. SENSE OF THE CONGRESS RESOLUTION REGARDING ENVIRON- MENTAL POLICY AND INTERNATIONAL DEBT EXCHANGES. It is the sense of the Congress that— (1) the Secretary of the Treasury should include support for sustainable development and conservation projects when providii^ a framework for negotiating or facilitating exchanges or reductions of commercial debt of foreign countries; and (2) that in assisting or facilitating the reduction of debt of heavily indebted foreign countries, through multilateral institu- tions such as the International Monetary Fund or the Inter- national Bank for Reconstruction and Development, the Secretary of State and the Secretary of the Treasury should— (A) support efforts to provide adequate resources for sustainable development and conservation projects as a component of the restructured commercial bank debt of that country; and (B) in providing such support, seek to assure that— (i) the host government, or a local nongovernmental organization acting with the support of the host govern- >• ment, has identified conservation or sustainable devel- opment projects it will target for assistance;

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