republic-os/legal/us/code/title-22/chapter-7/section-262p-4c.md

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LegalText	22 U.S.C. § 262p–4c	Initiation of discussions to facilitate debt-for-development swaps for human welfare and environmental conservation	us	united_states_code	code_section	22	FOREIGN RELATIONS AND INTERCOURSE	7	INTERNATIONAL BUREAUS, CONGRESSES, ETC.	262p–4c	22 U.S.C. § 262p–4c	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc22@119-100.zip	/us/usc/t22/s262p–4c	data/legal/raw/us/code/title-22/usc22.xml	531cf61c365669bcbc1f4a4e723a615235b425459806e23630d0b8cc1f1dabb7	b9c63ede722f5e0bf8eabfe9029e06e312ab9bcfd95c4d1424ed515baff1df83	28ed668e9bbb754920370b27728060bdda6f410b8080320149feb703a8f8f1b3	2026-07-04	official	legal us-code

22 U.S.C. § 262p–4c - Initiation of discussions to facilitate debt-for-development swaps for human welfare and environmental conservation

Text

(a) Findings The Congress finds that—

(1) voluntary debt-for-development swaps in heavily indebted developing nations can simultaneously facilitate reduction of the burden of external indebtedness and increase the resources available within the country for charitable, educational, and scientific purposes, including environmental conservation, education, human welfare, health, agricultural research and development, microenterprise credit, and development of indigenous nonprofit organizations; and

(2) heavily indebted developing countries may desire to facilitate such swaps to the maximum extent consistent with sound domestic economic management and minimization of inflationary impact.

(b) Initiation of discussions to facilitate debt-for-development swaps for human welfare and environmental conservation (1) In general The Secretary of the Treasury shall instruct the United States Executive Director of the International Bank for Reconstruction and Development to initiate discussions with the directors of such bank, the International Development Association, and the International Finance Corporation and propose that such institutions provide advice and assistance, as appropriate, to borrowing country governments desiring to facilitate debt-for-development swaps, on mechanisms (including trust funds) to accomplish this purpose, particularly in the context of debt rescheduling, which mechanisms result in sound management of the macroeconomic impact of such swaps on such countries, and preserve the value of the capital obtained through such swaps.

(2) Definitions As used in this section:

(A) Debt-for-development swap The term “debt-for-development swap” means the purchase of qualified debt by, or the donation of such debt to, an organization described in section 501(c)(3) of title 26 which is exempt from taxation under section 501(a) of title 26, and the subsequent transfer of such debt to an organization located in such foreign country in exchange for an undertaking by such tax-exempt organization, such foreign government, or such foreign organization to engage in a charitable, educational, or scientific activity.

(B) Qualified debt The term “qualified debt” means—

(i) sovereign debt issued by a foreign government;

(ii) debt owed by private institutions in the country governed by such foreign government; and

(iii) debt owed by institutions in the country governed by such foreign government, which are owned, in part, by private persons and, in part, by public institutions.

(Pub. L. 95–118, title XVI, § 1608, as added Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36.)

Notes

Editorial Notes

Codification Section 1608 of Pub. L. 95–118 is based on section 8 of H.R. 4645, One Hundredth Congress, as reported Sept. 28, 1988, and enacted into law by Pub. L. 100–461.

Statutory Notes and Related Subsidiaries

Definitions The definitions in section 262p–5 of this title apply to this section.