22 U.S.C. § 262o-4 : US Code - Section 262O-4: Promotion of policy goals

Search 22 U.S.C. § 262o-4 : US Code - Section 262O-4: Promotion of policy goals

(a) In general
The Secretary of the Treasury shall instruct the United States
Executive Director at each multilateral development bank to inform
each such bank and the executive directors of each such bank of the
policy of the United States as set out in this section and to
actively promote this policy and the goals set forth in section
262o-3 of this title. It is the policy of the United States that
each bank should -
(1) require the bank's employees, officers and consultants to
make an annual disclosure of their financial interests and income
and of any other potential source of conflict of interest;
(2) link project and program design and results to management
and staff performance appraisals, salaries, and bonuses;
(3) implement voluntary disclosure programs for firms and
individuals participating in projects financed by such bank;
(4) ensure that all loan, credit, guarantee, and grant
documents and other agreements with borrowers include provisions
for the financial resources and conditionality necessary to
ensure that a person or country that obtains financial support
from a bank complies with applicable bank policies and national
and international laws in carrying out the terms and conditions
of such documents and agreements, including bank policies and
national and international laws pertaining to the comprehensive
assessment and transparency of the activities related to access
to information, public health, safety, and environmental
protection;
(5) implement clear anti-corruption procedures setting forth
the circumstances under which a person will be barred from
receiving a loan, contract, grant, guarantee or credit from such
bank, make such procedures available to the public, and make the
identity of such person available to the public;
(6) coordinate policies across multilateral development banks
on issues including debarment, cross-debarment, procurement
guidelines, consultant guidelines, and fiduciary standards so
that a person that is debarred by one such bank is subject to a
rebuttable presumption of ineligibility to conduct business with
any other such bank during the specific ineligibility period;
(7) require each bank borrower and grantee and each bidder,
supplier and contractor for MDB projects to comply with the
highest standard of ethics prohibiting coercive, collusive,
corrupt and fraudulent practices, such as are defined in the
World Bank's Procurement Guidelines of May, 2004;
(8) maintain a functionally independent Investigations Office,
Auditor General Office and Evaluation Office that are free from
interference in determining the scope of investigations
(including forensic audits), internal auditing (including
assessments of management controls for meeting operational
objectives and complying with bank policies), performing work and
communicating results, and that regularly report to such bank's
board of directors and, as appropriate and in a manner consistent
with such functional independence of the Investigations Office
and the Auditor General Office, to the bank's President;
(9) require that each candidate for adjustment or budget
support loans demonstrate transparent budgetary and procurement
processes including budget publication and public scrutiny prior
to loan or grant approval;
(10) require that for each project where compensation is to be
provided to persons adversely affected by the project, such
persons have recourse to an impartial and responsive mechanism to
receive and resolve complaints. The mechanism should be easily
accessible to all segments of the affected community without
impeding access to other judicial or administrative remedies and
without retribution;
(11) implement best practices in domestic laws and
international conventions against corruption for whistleblower
and witness disclosures and protections against retaliation for
internal and lawful public disclosures by the bank's employees
and others affected by such bank's operations who challenge
illegality or other misconduct that could threaten the bank's
mission, including: (1) best practices for legal burdens of
proof; (2) access to independent adjudicative bodies, including
external arbitration based on consensus selection and shared
costs; and (3) results that eliminate the effects of proven
retaliation; and
(12) require, to the maximum extent possible, that all draft
country strategies are issued for public consideration no less
than 45 days before the country strategy is considered by the
multilateral development bank board of directors.
(b) Publication of position statement
The Secretary of the Treasury shall, beginning thirty days after
November 14, 2005, and within sixty calendar days of the meeting of
the respective bank's Board of Directors at which such decisions
are made, publish on the Department of the Treasury website a
statement or explanation of the United States position on decisions
related to: (1) operational policies; and (2) any proposal which
would result or be likely to result in a significant effect on the
environment.
(c) "Multilateral development bank" defined
In this section the term "multilateral development bank" has the
meaning given that term in section 262m-7 of this title and also
includes the European Bank for Reconstruction and Development and
the Global Environment Facility.