Page 29 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 262d

§ 262c. Commitments for United States contributions to international financial institutions

fostering economic development in less developed countries; continuation of participation

(a) Congressional findings

It is the sense of the Congress that—

(1) for humanitarian, economic, and political

reasons, it is in the national interest of the

United States to assist in fostering economic

development in the less developed countries of

this world;

(2) the development-oriented international

financial institutions have proved themselves

capable of playing a significant role in assisting economic development by providing to less

developed countries access to capital and technical assistance and soliciting from them maximum self-help and mutual cooperation;

(3) this has been achieved with minimal risk

of financial loss to contributing countries;

(4) such institutions have proved to be an effective mechanism for sharing the burden

among developed countries of stimulating economic development in the less developed

world; and

(5) although continued United States participation in the international financial institutions is an important part of efforts by the

United States to assist less developed countries, more of this burden should be shared by

other developed countries. As a step in that direction, in future negotiations, the United

States should work toward aggregate contributions to future replenishments to international financial institutions covered by this

Act not to exceed 25 per centum.

(b) Funding commitments to international financial institutions; availability of funds subject

to appropriations

The Congress recognizes that economic development is a long-term process needing funding

commitments to international financial institutions. It also notes that the availability of funds

for the United States contribution to international financial institutions is subject to the

appropriations process.

(Pub. L. 95–118, title I, §101, Oct. 3, 1977, 91 Stat.

1067.)

REFERENCES IN TEXT

This Act, referred to in subsec. (a)(5), is Pub. L.

95–118, Oct. 3, 1977, 91 Stat. 1067, as amended, known as

the International Financial Institutions Act, which enacted sections 262c, 262d, 262e to 262g–3, 262m to 262p–5,

262r to 262t, 282i, 284n, 285s, 285t, 286e–1f, and 290g–10 of

this title, repealed sections 283y, 284m, and 290g–9 of

this title, and enacted provisions set out as notes under

sections 262c and 282i of this title. For complete classification of this Act to the Code, see Short Title of 1977

Amendment note set out under section 261 of this title

and Tables.

EFFECTIVE DATE

Section effective Oct. 3, 1977, see section 1001 of Pub.

L. 95–118, set out as a note under section 282i of this

title.

FUTURE UNITED STATES CONTRIBUTIONS TO THE

INTERNATIONAL FINANCIAL INSTITUTIONS

Pub. L. 96–536, §101(b) [H.J. Res. 637, §101(b); H.R. 4473,

title I], Dec. 16, 1980, 94 Stat. 3167, provided in part that:

‘‘It is the sense of the Congress that the United States

share of contributions to future replenishments of the

International Financial Institutions should not exceed

the percentages enumerated below for each of the respective accounts within these institutions:

‘‘Asian Development Bank:

‘‘Paid-in capital, 16.3 percent;

‘‘Callable capital, 16.3 percent;

‘‘Asian Development Fund, 22.2 percent;

‘‘African Development Bank:

‘‘Special Fund, 18 percent;

‘‘Inter-American Development Bank:

‘‘Paid-in capital, 34.5 percent;

‘‘Callable capital, 34.5 percent;

‘‘Fund for Special Operations, 40 percent;

‘‘International Bank for Reconstruction and Development:

‘‘Paid-in capital, 24 percent;

‘‘Callable capital, 24 percent;

‘‘International Development Association, 25 percent;

‘‘International Finance Corporation, 23 percent.’’

Similar provisions were contained in the following

appropriation acts:

Pub. L. 96–123, §101(a) [incorporating Pub. L. 95–481,

title III], Nov. 20, 1979, 93 Stat. 923.

Pub. L. 95–481, title III, Oct. 18, 1978, 92 Stat. 1599.

Pub. L. 95–148, title III, Oct. 31, 1977, 91 Stat. 1238.

STANDARDS FOR HUMAN NEEDS AND PROTECTION OF

HUMAN RIGHTS; CONSULTATION FOR DEVELOPMENT OF

CRITERIA; REPORT TO CONGRESS

Section 703 of Pub. L. 95–118 provided that:

‘‘(a) The Secretary of State and the Secretary of the

Treasury shall initiate a wide consultation designed to

develop a viable standard for the meeting of basic

human needs and the protection of human rights and a

mechanism for acting together to insure that the rewards of international economic cooperation are especially available to those who subscribe to such standards and are seen to be moving toward making them effective in their own systems of governance.

‘‘(b) Not later than one year after the date of enactment of this Act [Oct. 3, 1977], the Secretary of State

and the Secretary of the Treasury shall report to the

President of the Senate and the Speaker of the House

of Representatives on the progress made in carrying

out this section.’’

§ 262d. Human rights and United States assistance policies with international financial institutions

(a) Policy goals

The United States Government, in connection

with its voice and vote in the International

Bank for Reconstruction and Development, the

International Development Association, the

International Finance Corporation, the InterAmerican Development Bank, the African Development Fund, the Asian Development Bank,

the African Development Bank, the European

Bank for Reconstruction and Development, and

the International Monetary Fund, shall advance

the cause of human rights, including by seeking

to channel assistance toward countries other

than those whose governments engage in—

(1) a pattern of gross violations of internationally recognized human rights, such as

torture or cruel, inhumane, or degrading

treatment or punishment, prolonged detention

without charges, or other flagrant denial to

life, liberty, and the security of person; or

(2) provide refuge to individuals committing

acts of international terrorism by hijacking

aircraft.