22 USC 2431c - Eligibility for benefits

U.S Code last checked for updates: Nov 22, 2024

§ 2431c.

Eligibility for benefits

(a)

In general

To be eligible for benefits from the Facility under this subchapter, a country shall be a developing country with a tropical forest or coral reef—

(1)

whose government is democratically elected;

(2)

whose government has not repeatedly provided support for acts of international terrorism;

(3)

whose government is not failing to cooperate on international narcotics control matters;

(4)

whose government (including its military or other security forces) does not engage in a consistent pattern of gross violations of internationally recognized human rights;

(5)

that has in effect, has received approval for, or is making significant progress toward—

(A)

an International Monetary Fund standby arrangement, extended Fund arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility, or a Fund monitored program, or is implementing sound macroeconomic policies, unless the President determines that such an arrangement or program could reasonably be expected to have significant adverse social or environmental effect; and

(B)

as appropriate, structural or sectoral adjustment loans from the International Bank for Reconstruction and Development or the International Development Association, unless the President determines that the resulting adjustment requirements could reasonably be expected to have significant adverse social or environmental effects;

(6)

if appropriate, has 1

 So in original. Probably should be preceded by “that”.

agreed with its commercial bank lenders on a satisfactory financing program, including, as appropriate, debt or debt service reduction; and

(7)

that has put in place investment reforms, as evidenced by the conclusion of a bilateral investment treaty with the United States, implementation of an investment sector loan with the Inter-American Development Bank, World Bank-supported investment reforms, or other measures, as appropriate.

(b)

Eligibility determinations

(1)

In general

(2)

Congressional notification

(Pub. L. 87–195, pt. V, § 805, as added Pub. L. 105–214, § 1, July 29, 1998, 112 Stat. 887; amended Pub. L. 107–26, § 1, Aug. 17, 2001, 115 Stat. 206; Pub. L. 115–440, § 5, Jan. 14, 2019, 132 Stat. 5582.)

cite as: 22 USC 2431c