Ninth Capital Increase

22 U.S.C. § 283z–13

• Title: 22 — Foreign Relations and Intercourse
• Chapter: 7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC.
• Subchapter: XII
• Current through: Pub. L. 119-99

Text

(a) Vote authorized
The United States Governor of the Bank is authorized to vote in favor of a resolution to increase the capital stock of the Bank by $70,000,000,000 as described in Resolution AG–7/10, "Report on the Ninth General Capital Increase in the resources of the Inter-American Development Bank" as approved by Governors on July 21, 2010.
(b) Subscription authorized
(1) The United States Governor of the Bank may subscribe on behalf of the United States to 1,741,135 additional shares of the capital stock of the Bank.
(2) Any subscription by the United States to the capital stock of the Bank shall be effective only to such extent and in such amounts as are provided in advance in appropriations Acts.
(c) Limitations on authorization of appropriations
(1) In order to pay for the increase in the United States subscription to the Bank under subsection (b), there are authorized to be appropriated, without fiscal year limitation, $21,004,064,337 for payment by the Secretary of the Treasury.
(2) Of the amount authorized to be appropriated under paragraph (1)—
(A) $510,090,175 shall be for paid in shares of the Bank; and
(B) $20,493,974,162 shall be for callable shares of the Bank.

History

(Pub. L. 86–147, §41, as added Pub. L. 112–74, div. I, title VII, §7081(c), Dec. 23, 2011, 125 Stat. 1260.)