Page:United States Statutes at Large Volume 94 Part 1.djvu/479

 PUBLIC LAW 96-259—JUNE 3, 1980

94 STAT. 429

Public Law 96-259 96th Congress An Act To provide for increased participation by the United States in the Inter-American ifevelopment Bcuik, the ^ i a n Development Bank, and the African Development Fund.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, TITLE I—INTER-AMERICAN DEVELOPMENT BANK

June 3, 1980 [S. 662]

Inter-American, Asian, and African Development Banks and Fund, increased U.S. participation.

SEC. 101. The Inter-American Development Bank Act (22 U.S.C. 283 et seq.) is amended— 22 USC 283z. (1) by redesignating section 29 as section 28; and (2) by adding at the end thereof the following new section: "SEC. 29. (a) The United States Governor of the Bank is authorized Authorized capital stock to vote for two resolutions which were proposed by the Governors at a increase. special meeting in December 1978 and are pending before the Board 22 USC 283z-l. of Governors of the Bank. These resolutions provide for (1) an increase in the authorized capital stock of the Bank and additional subscriptions thereto, and (2) an increase in the resources of the Fund for Special Operations and contributions thereto. Upon adoption of these resolutions, the United States Governor is authorized on behalf of the United States (A) to subscribe to two hundred twenty-seven thousand eight hundred and ninety-six shares of the increase in the authorized capital stock of the Bank, of which two hundred ten thousand eight hundred and four shall be callable and seventeen thousand and ninety-two shall be paid-in, and (B) to contribute to the Fund for Special Operations $630,000,000; except that any commitment to make such subscriptions to paid-in and callable capital stock and to make such contributions to the Fund for Special Operations shall be effective only to such extent or in such amounts as are provided in advance in appropriation Acts. "db) In order to pay for the increase in the United States subscrip- Appropriation tion and contribution provided for in this section, there are author- authorization. ized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury (1) $2,474,287,189 for the United States subscription to the capital stock of the Bank, and (2) $630,000,000 for the United States share of the increase in the resources of the Fund for Special Operations. "(c) For the purpose of keeping to a minimum the cost to the United U.S. cost, minimization. States, the Secretary of the Treasury— "(1) shall pay the United States contribution to the Fund for Special Operations authorized by this section by letter of credit in four annual installments; and "(2) shall take the steps necessary to obtain a certification from the Bank that any undisbursed balances resulting from drawdowns on such letter of credit will not exceed at any time the United States share of expected disbursement requirements for the following three-month period.

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