106 STAT. 2190 PUBLIC LAW 102-429—OCT. 21, 1992 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.". SEC. 107. INSURANCE-RELATED BUSINESS STEMMING FROM BANK ACTIVITIES. Section 2(d) of the Export-Import Bank Act of 1945 (12 U.S.C. 635(d)) is amended by striking paragraphs (2) and (3) and inserting after paragraph (1) the following: "(2) COMPETITIVE OPPORTUNITY FOR INSURANCE COMPANIES.— In the case of any long-term loan or guarantee of not less than $10,000,000, the Bank shall seek to ensure that United States insurance companies are accorded a fair and open competitive opportunity to provide insurance against risk of loss in connection with any transaction with respect to which such loan or guarantee is provided. "(3) RESPONSIVE ACTIONS.— If the Bank becomes aware that a fair and open competitive opportunity is not accorded to any United States insurance company in a foreign country with respect to which the Bank is considering a loan or guarantee, the Bank— "(A)/may approve or (^ny the loan or guarantee after considering whether such action would be likely to achieve competitive access for United States insurance companies; and "(B) shall forward information regarding any foreign country that denies United States insurance companies a fair and open competitive opportunity to the Secretary of Commerce and to the United States Trade Representative for consideration of a recommendation to the President that access by such country to export credit of the United States should be restricted. "(4) NOTICE OF APPROVAL.— If the Bank approves a loan or guarantee with respect to a foreign country notwithstanding information regarding denial by that foreign country of competitive opportunities for United States insurance companies, the Bank shall include notice of such approval and the reason for such
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