22 U.S.C. § 284y — Multilateral debt relief

FEDERAL · 22 U.S.C. · Chapter SUBCHAPTER XIII—INTERNATIONAL DEVELOPMENT ASSOCIATION

Multilateral debt relief

22 U.S.C. § 284y

Title22 — Foreign Relations and Intercourse

ChapterSUBCHAPTER XIII—INTERNATIONAL DEVELOPMENT ASSOCIATION

This text of 22 U.S.C. § 284y (Multilateral debt relief) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

22 U.S.C. § 284y.

Text

(a)Authorization of contribution The Secretary of the Treasury is authorized to contribute, on behalf of the United States, not more than $474,000,000 to the International Development Association for the purpose of funding debt relief cost under the Multilateral Debt Relief Initiative incurred in the period governed by the sixteenth replenishment of resources of the International Development Association, subject to obtaining the necessary appropriations and without prejudice to any funding arrangements in existence on December 23, 2011.

(b)Appropriations In order to pay for the United States contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, not more than $474,000,000 for payment by the Secretary of the Treasury.

(c)Mult

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(a) Authorization of contribution
The Secretary of the Treasury is authorized to contribute, on behalf of the United States, not more than $474,000,000 to the International Development Association for the purpose of funding debt relief cost under the Multilateral Debt Relief Initiative incurred in the period governed by the sixteenth replenishment of resources of the International Development Association, subject to obtaining the necessary appropriations and without prejudice to any funding arrangements in existence on December 23, 2011.
(b) Appropriations
In order to pay for the United States contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, not more than $474,000,000 for payment by the Secretary of the Treasury.
(c) Multilateral Debt Relief Initiative
In this section, the term "Multilateral Debt Relief Initiative" means the proposal set out in the G8 Finance Ministers' Communiqué entitled "Conclusions on Development", done at London, June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.

Source Credit

History

(Pub. L. 86–565, §27, as added Pub. L. 112–74, div. I, title VII, §7083(a), Dec. 23, 2011, 125 Stat. 1262.)

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22 U.S.C. § 284y, Counsel Stack Legal Research, https://law.counselstack.com/usc/22/284y.