Page:United States Statutes at Large Volume 114 Part 3.djvu/867

 PUBLIC LAW 106-429—APPENDIX A 114 STAT. 1900A-65 (2) AVAILABILITY OF AMOUNTS. —Amounts appropriated pursuant to the authorization of appropriations in paragraph (1) shall remain available until expended. (c) CERTIFICATION REQUIRED. — (1) IN GENERAL.— Except as provided in paragraph (2), not later than 30 days after the date of enactment of this Act, the Secretary shall certify to the appropriate congressional committees that the following requirements are satisfied: (A) IMPLEMENTATION BY THE BANK OF CERTAIN POLI- CIES.— The Bank is implementing— (i) policies providing for the suspension of a loan ' if funds are being diverted for purposes other than the purpose for which the loan was intended; (ii) policies seeking to prevent loans from displacing private sector financing; (iii) policies requiring that loans other than project loans must be disbursed— (I) on the basis of specific prior reforms; or (II) incrementally upon implementation of specific reforms after initial disbursement; (iv) policies seeking to minimize the number of projects receiving financing that would displace a population involuntarily or be to the detriment of the people or culture of the area into which the displaced population is to be moved; (v) policies vigorously promoting open markets and liberalization of trade in goods and services; (vi) policies providing that financing by the Bank concentrates chiefly on projects and programs that pro- ' mote economic and social progress rather than shortterm liquidity financing; and (vii) policies providing for the establishment of appropriate qualitative and quantitative indicators to measure progress toward graduation from receiving ' financing on concessionary terms, including an estimated timetable by which countries may graduate over the next 15 years. (B) IMPLEMENTATION BY THE FUND OF CERTAIN POLI- CIES.—The Fund is implementing— (i) policies providing for the suspension of a financing if funds are being diverted for purposes other than the purpose for which the financing was intended; (ii) policies seeking to ensure that financing by the Fund normally serves as a catalyst for private sector financing and does not displace such financing; (iii) policies requiring that financing must be disbursed— (I) on the basis of specific prior reforms; or (II) incrementally upon implementation of specific reforms after initial disbursement; (iv) policies vigorously promoting open markets and liberalization of trade in goods and services; (v) policies providing that financing by the Fund concentrates chiefly on short-term balance of payments financing; and

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