22 U.S.C. § 262n-1

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 262n-1 - Increase in income and employment in developing countries; enhancement of purchasing power; diversification away from single crop or product economies

The Secretary of the Treasury, after consultations with the Secretary of Agriculture and the Secretary of the Interior (to the extent appropriate) on markets and prices for commodities, shall periodically instruct the United States Executive Director of each multilateral development bank to work with other executive directors of the respective bank to continue to-

(1) support activities which result in broad increases in income and employment and enhance purchasing power in developing countries, particularly among the rural poor; and

(2) encourage diversification away from single crop or product economies in developing countries to help reduce wide fluctuations in commodity prices and the adverse impact of abrupt changes in the terms of trade.

22 U.S.C. § 262n-1

Pub. L. 95-118, title XIV, §1402, as added Pub. L. 100-202, §101(e) [title I], Dec. 22, 1987, 101 Stat. 1329-131, 1329-134.

EDITORIAL NOTES

CODIFICATION Section 1402 of Pub. L. 95-118 is based on section 701 of title VII of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L. 100-202.

STATUTORY NOTES AND RELATED SUBSIDIARIES

DEFINITIONSThe definitions in section 262p-5 of this title apply to this section.

multilateral development bank

the term "multilateral development bank" means the International Bank for Reconstruction and Development, the International Development Association, and the regional multilateral development banks; and