22 USC 262p-4d - Initiation of discussions to facilitate financing of human welfare and natural resource programs in sub-Saharan Africa in connection with debt reduction and conversion

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

§ 262p–4d.

Initiation of discussions to facilitate financing of human welfare and natural resource programs in sub-Saharan Africa in connection with debt reduction and conversion

(a)

Findings

The Congress finds that—

(1)

the heavy burden of debt borne by sub-Saharan governments undermines efforts by such governments to finance projects and programs designed to promote charitable, educational, and scientific purposes, including education, human welfare, health, agricultural research and development, and conservation, restoration and enhancement of the natural resource base; and

(2)

the financing of programs to promote such charitable, educational, and scientific purposes should be facilitated in the context of reducing and converting sovereign debt of sub-Saharan governments, as encouraged in the final communique of the June 1988 economic summit conference in Toronto, Canada, through such means as—

(A)

concessional interest rates;

(B)

extended repayment periods; or

(C)

partial or complete write-offs of debt service obligations.

(b)

Initiation of discussions to facilitate financing of human welfare and natural resource programs in sub-Saharan Africa in connection with debt reduction and conversion

(Pub. L. 95–118, title XVI, § 1609, as added Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36.)

cite as: 22 USC 262p-4d