§ 283j TITLE 22—FOREIGN RELATIONS AND INTERCOURSE Page 100

§ 283j. Increased United States participation in

Bank activities

The United States Governor of the Bank is

hereby authorized (1) to vote (A) for the increases in the authorized capital stock of the

Bank under article II, Section 2, of the agreement, and (B) for an increase in the resources of

the Fund for Special Operations under article

IV, section 3, of the agreement, all as recommended by the Executive Directors in a report dated March 18, 1963, to the Board of Governors of the Bank; (2) to agree on behalf of the

United States to subscribe to its proportionate

share of the $1,000,000,000 increase in the authorized callable capital stock of the Bank; and (3)

to vote for an amendment to article VIII, section 3, of the agreement to provide that the

Board of Governors may, upon certain conditions, increase by one the number of Executive

Directors.

(Pub. L. 86–147, §13, as added Pub. L. 88–259, §1,

Jan. 22, 1964, 78 Stat. 3.)

§ 283j–1. Audit

(a) Establishment

The Secretary of the Treasury shall instruct

the United States Executive Director to propose

the establishment by the Board of Executive Directors of a program of selective but continuing

independent and comprehensive audit of the

Inter-American Development Bank, in accordance with such terms of reference as the Board

of Executive Directors itself (or through a subcommittee), may prescribe. Such proposal shall

provide that the audit reports be submitted to

the Board of Executive Directors and to the

Board of Governors.

(b) Scope and standards

The Secretary of the Treasury shall prepare

the scope of the audit and the auditing and reporting standards for the use of the United

States Executive Director in assisting in the

formulation of the terms of reference.

(c) Reports

The reports of the National Advisory Council

on International Monetary and Financial Policies to the Congress shall include, among other

things, an appraisal of the effectiveness of the

implementation and administration of the loans

made by the Bank based upon the audit reports.

The Comptroller General may review the reports

of audit and findings issued and report to the

Secretary of the Treasury and the Congress any

suggestions he might have in improving the

scope of the audit or auditing and reporting

standards of the independent auditing firm,

group, or staff.

(Pub. L. 86–147, §14, as added Pub. L. 90–88, §1,

Sept. 22, 1967, 81 Stat. 227; amended Pub. L.

104–316, title I, §111(b), Oct. 19, 1996, 110 Stat.

3833.)

AMENDMENTS

1996—Subsec. (b). Pub. L. 104–316 substituted ‘‘Secretary of the Treasury shall prepare’’ for ‘‘Comptroller

General of the United States shall prepare for the Secretary of the Treasury’’.

Subsec. (c). Pub. L. 104–316 substituted ‘‘may review’’

for ‘‘shall periodically review’’ in second sentence.

§ 283k. Authorization of appropriations

(a) Capital stock of Inter-American Development

Bank

There is hereby authorized to be appropriated,

without fiscal year limitation, for payment of

the increased United States subscription to the

capital stock of the Inter-American Development Bank, $411,760,000.

(b) Fund for Special Operations of the InterAmerican Development Bank

There is hereby authorized to be appropriated,

for payment of the increased United States subscription to the Fund for Special Operations of

the Inter-American Development Bank,

$50,000,000.

(Pub. L. 88–259, §2, Jan. 22, 1964, 78 Stat. 3.)

CODIFICATION

Section was not enacted as part of Pub. L. 86–147,

Aug. 7, 1959, 73 Stat. 299, known as the Inter-American

Development Bank Act, which comprises this subchapter.

§ 283l. Increase in resources of the Fund for Special Operations

(a) Authorization of vote; payment to Fund

The United States Governor of the Bank is

hereby authorized to vote in favor of the resolution entitled ‘‘Increase of Resources of the Fund

for Special Operations’’ proposed by the Governors at their annual meeting in April 1964, and

now pending before the Board of Governors of

the Bank. Upon the adoption of such resolution,

the United States Governor is authorized to

agree, on behalf of the United States to pay to

the Fund for Special Operations of the Bank, the

sum of $750,000,000, in accordance with and subject to the terms and conditions of such resolution.

(b) Authorization of appropriations

There is hereby authorized to be appropriated

without fiscal year limitation, for the United

States share in the increase in the resources of

the Fund for Special Operations of the Bank, the

sum of $750,000,000.

(c) Loan disapproval by the United States

With respect to any dollars herein provided,

the voting power of the United States shall be

exercised for the purpose of disapproving any

loan from the Fund for Special Operations of the

Bank for any project, enterprise, or activity in

any country, during any period for which the

President has suspended assistance to the government of such country because of any action

taken on or after January 1, 1962, by the government of such country or any government agency

or subdivision within such country as specified

in paragraph (A), (B), or (C) of subsection (e)(1)

of section 2370 of this title, and the failure of

such country within a reasonable time to take

appropriate steps to discharge its obligations or

provide relief in accordance with provisions of

such subsection.

(Pub. L. 86–147, §15, formerly §14, as added Pub.

L. 89–6, Mar. 24, 1965, 79 Stat. 23; renumbered §15,

Pub. L. 90–88, §1, Sept. 22, 1967, 81 Stat. 226.)