ENVIRONMENTAL POLICY.

SEC. 106. ENVIRONMENTAL POLICY.The Export-Import Bank Act of 1945 (12 U.S.C. 635 et seq.) is amended by adding at the end the following new section: “SEC. 17. ENVIRONMENTAL POLICY AND PROCEDURES. “(a) Environmental Effects Consideration.— “(1) In general.— Consistent with the objectives of section 2(b)(1)(A), the Bank shall establish procedures to take into account the potential beneficial and adverse environmental effects of goods and services for which support is requested under its direct lending and guarantee programs. Such procedures shall apply to any transaction involving a project— “(A) for which long-term support of $10,000,000 or more is requested from the Bank; “(B) for which the Bank’s support would be critical to its implementation; and “(C) which may have significant environmental effects upon the global commons or any country not participating in the project, or may produce an emission, an effluent, 106 STAT. 2190 or a principal product that is prohibited or strictly regulated pursuant to Federal environmental law. “(2) Authority to withhold financing.— The procedures established under paragraph (1) shall permit the Board of Directors, in its judgment, to withhold financing from a project for environmental reasons or to approve financing after considering the potential environmental effects of a project. “(b) Use of Bank Programs To Encourage Certain Exports.—The Bank shall encourage the use of its programs to support the export of goods and services that have beneficial effects on the environment or mitigate potential adverse environmental effects. The Board of Directors shall name an officer of the Bank to advise the Board on ways that the Bank’s programs can be used to support the export of such goods and services. The officer shall act as liaison between the Bank and other Federal Government agencies, including the agencies whose representatives are members of the Environmental Trade Promotion Working Group of the Trade Promotion Coordinating Committee, with respect to overall United States Government policy on the environment. “(c) Inclusion in Report to Congress.—The Bank shall provide in its annual report to the Congress a summary of its activities under subsections (a) and (b). “(d) Interpretation.—Nothing in this section shall be construed to create any cause of action.