; (2) independent pro-democracy organizations in Nicaragua; (3) free, fair, and transparent elections under international and domestic observers in Nicaragua; and (4) anti-corruption and transparency efforts in Nicaragua. 4. International financial institutions (a) In general The President shall instruct the United States Executive Director at each international financial institution to use the voice, vote, and influence of the United States to oppose any loan for the benefit of the Government of Nicaragua, other than to address basic human needs or promote democracy, unless the Secretary of State certifies and reports to the appropriate congressional committees that the Government of Nicaragua is taking effective steps to— (1) hold free, fair, and transparent elections overseen by credible domestic and international electoral observers; (2) promote democracy, as well as an independent judicial system and electoral council; (3) strengthen the rule of law; (4) respect the right to freedom of association and expression; (5) combat corruption, including investigating and prosecuting government officials that are credibly alleged to be corrupt; and (6) protect the right of political opposition parties, journalists, trade unionists, human rights defenders, and other civil society activists to operate without interference. (b) Report The Secretary of the Treasury shall submit to the appropriate congressional committees a written report assessing— (1) the effectiveness of the international financial institutions in enforcing applicable program safeguards in Nicaragua; and (2) the effects of the matters described in section 2 on long-term prospects for positive development outcomes in Nicaragua. (c) Definitions In this section: (1) Appropriate congressional committees The term appropriate congressional committees means— (A) the Committee on Foreign Affairs, the Committee on Appropriations, and the Committee on Financial Services of the House of Representatives