§262m–5 Environmental Impact Statements; Factors Considered; Promotion of Activities by United States Executive Directors

Summary

The Treasury Secretary must tell the U.S. Executive Director at each multilateral development bank to push the bank to consider environmental values that can’t be measured in money, along with economic and technical facts. For every loan or project sent to the bank’s board, the bank must include a clear report that explains the environmental gains and losses, ways to reduce harm, any harm that can’t be avoided, and alternative options. The Secretary must also tell the U.S. Executive Director to promote five things: more loans that help the environment; environmental programs in policy loans to protect resources and biodiversity; more staff trained in ecology and social-impact work; active involvement of borrowing countries’ environmental, community, and indigenous groups in planning; and early, full access for those groups to project documents and impact information.