Page:United States Statutes at Large Volume 106 Part 3.djvu/395

 PUBLIC LAW 102-429—OCT. 21, 1992 106 STAT. 2189 (A) by striking "For the purpose of this section—" and inserting "For purposes of this section, the following definitions shall apply:"; and (B) by adding at the end the following new paragraph: "(6) OFFERS GRANDFATHERED UNDER THE ARRANGEMENT. — The term 'offers grandfathered under the Arrangement' means— "(A) financing offers made or lines of credit extended on or before February 15, 1992; or "(B) financing oners extended for subloans under lines of credit referred to in subparagraph (A) made on or before August 15, 1992, or, in the case of Mexico, on or before December 31, 1992.". SEC. 104. USE OF LOAN GUARANTEES. Section 2(b)(1)(B) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(b)(1)(B)) is amended in the fifl;h sentence by inserting after the first semicolon the following: "that the Bank, in determining whether to provide support for a transaction under the loan, guarantee, or insurance program, or any combination thereof, shall consider the need to involve private capital in support of United States exports as well as the cost of the transaction as calculated in accordance with the requirements of the Federal Credit Reform Act of 1990;". SEC. 105. EXPANDED USE OF LOAN GUARANTEES. Section 2(c)(3) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(c)(3)) is amended— (1) by striking "With" and inserting the following: "(A) IN GENERAL.— W ith"; and (2) by adding at the end the following new subparagraph: "(B) GUARANTEE COVERAGE.— For the guarantee program provided for in this subsection, the Bank may provide up to 100 percent coverage of the interest and principal if the Board of Directors determines such coverage to be necessary to ensure acceptance of Bank guarantees by financial institutions for any transaction in any export market in which the Bank is open for business.". SEC. 106. ENVIRONMENTAL POLICY. The Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) is amended by adding at the end the following new section: "SEC. 17. ENVIRONMENTAL POLICY AND PROCEDURES. 12 USC 635i-5. "(a) ENVIRONMENTAL EFFECTS CONSIDERATION.— "(1) IN GENERAL.— Consistent with the objectives of section 2(b)(l)(A), the Bank shall establish procedures to take into account the potential beneficial and adverse environmental effects of goods and services for which support is requested under its direct lending and guarantee programs. Such procedures shall apply to any transaction involving a project— "(A) for which long-term support of $10,000,000 or more is requestedfi*omthe Bank; "(B) for which the Bank's support would be critical to its implementation; and "(C) which may have significant environmental effects upon the global commons or any country not participating in the project, or may produce an emission, an effluent,

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