§262p–2 Instructions to United States Executive Directors for Extension of Credit

Summary

Require the Treasury Secretary to tell the U.S. Executive Directors at the International Bank for Reconstruction and Development and the International Development Association to start talks with other directors. They must ask the banks to make it easier for poor people in borrower countries to get loans from formal sources and to require, where appropriate, that borrowing countries find and remove unfair laws or rules that block groups from lending or stop microenterprises from getting small business loans. The Secretary must also tell the U.S. Executive Directors at the African Development Bank and the Asian Development Bank to study the Inter‑American Development Bank’s small projects program and explore setting up similar programs to lend to microenterprises. Each year, the National Advisory Council on International Monetary and Financial Policies must report to Congress on the status of these microenterprise credit efforts at the named institutions.