---
kind: "section"
citation: "22 U.S.C. § 262p–4e"
title: "22"
title_heading: "Foreign Relations and Intercourse"
number: "262p–4e"
heading: "Extent to which borrowing country governments have honored debt-for-development swap agreements to be considered as factor in making loans to such borrowers"
release: "119-102"
url: "https://uscodex.org/usc/22/262p-4e"
units:
  - "Chapter 7 — International Bureaus, Congresses, Etc."
---

# §262p–4e. Extent to which borrowing country governments have honored debt-for-development swap agreements to be considered as factor in making loans to such borrowers

- (a) **In general—** The [Secretary](/usc/22/277d–43.md?p=5) of the Treasury shall instruct the [United States](/usc/22/1395.md?p=a-1) [Executive Director](/usc/22/10601.md?p=5) of the International Bank for Reconstruction and Development to initiate discussions with the directors of such bank and propose that such bank consider, as an important factor in making loans to borrowing country governments, the history of compliance by such governments with, and the extent to which such governments have honored, [agreements](/usc/22/2431a.md?p=7) entered into by such governments as part of any [debt-for-development swap](#b-1) which requires such governments to set aside or otherwise limit the use of real property to conservation purposes.
- (b) **Definitions—** As used in this section:
  - (1) **Debt-for-development swap—** The term “debt-for-development swap” means the purchase of [qualified debt](#b-2) by, or the donation of such debt to, an organization described in [section 501(c)(3) of title 26](/usc/26/501.md?p=c-3) which is exempt from taxation under [section 501(a) of title 26](/usc/26/501.md?p=a), and the subsequent transfer of such debt to an organization located in such [foreign country](/usc/22/2321c.md?p=2) in exchange for an undertaking by such tax-exempt organization, such [foreign](/usc/22/3146.md?p=1) government, or such [foreign](/usc/22/3146.md?p=1) organization to engage in a charitable, educational, or scientific activity.
  - (2) **Qualified debt—** The term “qualified debt” means—
    - (A) sovereign debt issued by a [foreign](/usc/22/3146.md?p=1) government;
    - (B) debt owed by private institutions in the country governed by such [foreign](/usc/22/3146.md?p=1) government; and
    - (C) debt owed by institutions in the country governed by such [foreign](/usc/22/3146.md?p=1) government which are owned, in part, by private persons and, in part, by public institutions.

## Source credit

(Pub. L. 95–118, title XVI, § 1610, as added Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36.)

## Notes

### Editorial Notes

### Codification

Section 1610 of Pub. L. 95–118 is based on section 10 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.