§262p–4g — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

The Secretary of the Treasury must tell the U.S. Executive Director at the Inter‑American Development Bank to strongly push for technical help that turns government-owned companies in borrower countries into private, self-sustaining businesses. That help can include valuing assets, checking sale offers, and building market tools to make privatization work, because Congress wants U.S. policy at these banks to promote private-sector growth in borrowing countries.

Title 22, §262p–4g

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)The Congress finds that a principal focus of United States Government policy in the multilateral development banks has been and should be to foster greater development of the private sector in member borrowing countries of such banks.

(b)In order to assist and strengthen the advancement of ongoing efforts to have the Inter-American Development Bank play a key role in building a viable private sector in member borrowing countries of such bank, and to further assist such bank in its determination to facilitate the transfer of government-owned enterprises in such countries to private ownership, the Secretary of the Treasury shall instruct the United States Executive Director of such bank to vigorously encourage the provision of technical assistance to such countries to transform enterprises owned, in whole or in part, by the governments of such countries into privately owned, self-sufficient enterprises. Such technical assistance may involve the valuation of the assets of such government-owned enterprises, the assessment of tender offers, and the creation or strengthening of market-based mechanisms to facilitate such a transfer of ownership.

Editorial Notes

Prior Provisions

A prior section 1612 of Pub. L. 95–118 was renumbered section 1622 and is classified to section 262p–5 of this title.

Statutory Notes and Related Subsidiaries

Definitions The definitions in section 262p–5 of this title apply to this section.

§262p–4g Directives regarding government-owned enterprises in countries receiving IADB loans

Summary

Title 22, §262p–4g

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

Statutory Notes and Related Subsidiaries

Citations & Metadata