Treasury International Programs

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Table of Contents

U.S.	Department	of	the	Treasury	

International	Programs	

Congressional	Justification	for	Appropriations	

FY	2020	

FY 2020 Executive Summary............................................................................................................. 2

Summary Tables.................................................................................................................................... 4

Multilateral Development Banks..................................................................................................... 6

World Bank Group................................................................................................................................ 6

International	Development	Association	.........................................................................................................	6

International	Bank	for	Reconstruction	and	Development	.....................................................................	9	

International	Finance	Corporation.............................................................................................12	

Asian Development Bank .................................................................................................................13

Asian	Development	Fund	...................................................................................................................................	13

African Development Bank Group ................................................................................................16

African	Development	Fund	...............................................................................................................................	16

North American Development Bank ............................................................................................19

Environmental Trust Funds....................................................................................................20

Global	Environment	Facility	.............................................................................................................................	20

Technical Assistance..........................................................................................................................23

Office	of	Technical	Assistance	..........................................................................................................................	23

Annex 1: MDB Basics..............................................................................................................26

Annex 2: FY 2020 Appropriations Language and Authorization Request ......................29
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FY 2020 Executive Summary

The Treasury Department requests $1.55 billion for International Programs in FY 2020. In 

recognition of the Administration’s prioritization on national defense and security as well as a 

streamlined Federal Government that makes the best possible use of taxpayer dollars, we will 

support the most critical investments in multilateral development institutions, while ensuring that 

U.S. contributions are set at an appropriate level relative to our partner countries. These 

investments by Treasury’s International Programs strengthen U.S. national security, economic 

growth, and influence by advancing a more secure, economically prosperous, and democratic 

world. In recent years, Treasury has driven shareholder support for the implementation of key 

reforms at the multilateral development banks (MDBs) aimed at improving governance, 

development effectiveness, and financial discipline, and Treasury continues to pursue additional 

major reforms at several of the institutions. These include improved monitoring and evaluation, 

stronger independent compliance functions, adopting mechanisms to improve financial 

sustainability, and a larger allocation of lending to the world’s poorest countries. 

Multilateral Development Banks 

Our request includes $1.52 billion for the MDBs. The MDBs play key roles in the effort to 

increase global economic growth and reduce poverty, which advances U.S. foreign policy 

objectives of sustaining peace and stability, promoting security, and combatting terrorism. 

International Development Association (IDA): $1,097 million in support of IDA programs over 

the eighteenth replenishment (IDA-18; FY 2018 – FY 2020), including towards the third of three 

installments to IDA-18. 

International Bank for Reconstruction and Development (IBRD): $206.5 million towards the first 

of up to six installments for the IBRD general and selective capital increases. 

International Finance Corporation (IFC): No funding is requested in FY 2020. Treasury is 

requesting authorization to vote in favor of resolutions to allow other shareholders to contribute 

additional capital while preserving U.S. veto power over future capital increases. 

African Development Fund (AfDF): $171.3 million in support of AfDF programs over the 

fourteenth replenishment (AfDF-14; FY 2018 – FY 2020), including towards the third of three 

installments to AfDF-14. 

Asian Development Fund (AsDF): $47.4 million in support of AsDF programs over the eleventh 

replenishment (AsDF-12; FY 2018 – FY 2021), including towards the third of four installments 

to AsDF-12. 

North American Development Bank (NADB): No funding is requested in FY 2020. Treasury is 

requesting authorization to subscribe to the paid-in capital shares for which funding was 

appropriated by the Consolidated Appropriations Act of 2016. 

 
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Environmental Trust Funds 

Global Environment Facility (GEF): While the GEF remains a priority for Treasury, no funding 

is requested in FY 2020, as the Consolidated Appropriations Act, 2019 provides more than 

double the amount requested for FY 2019, which keeps the Administration on track to meet its 

GEF-7 pledge by FY 2022. (GEF-7; FY 2019 – FY 2022). 

Technical Assistance 

Treasury Office of Technical Assistance (OTA): $30 million to help ensure that OTA is able to 

respond quickly and in a sustained way to growing demand for technical assistance in areas that 

are priorities for the United States. Such areas include: supporting our national security agenda 

by combating terrorist financing and financial crimes, reducing countries’ dependence on foreign 

financial aid through improved domestic resource mobilization, and creating the conditions for 

private sector-led economic growth. This consists of improving the climate for private sector 

investment in infrastructure projects in developing and transitional countries. 
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Summary Tables

Summary of Appropriations and Request

Treasury International Programs

FY 2018 – FY 2020

(in	dollars)	

Multilateral Development Banks (MDBs) $1,348,123,000 $1,348,122,000 $1,522,205,000 $174,083,000 11.44%

International Development Association (IDA) $1,097,010,000 $1,097,010,000 $1,097,010,000 $0 0.00%

Int'l Bank for Reconstruction and Development (IBRD) $0 $0 $206,500,000 $206,500,000 100.00%

African Development Fund (AfDF) $171,300,000 $171,300,000 $171,300,000 $0 0.00%

African Development Bank (AfDB) $32,418,000 $32,417,000 $0 -$32,417,000 -100.00%

Asian Development Fund (AsDF) $47,395,000 $47,395,000 $47,395,000 $0 0.00%

Food Security $30,000,000 $30,000,000 $0 -$30,000,000 -100.00%

Int'l Fund for Agricultural Development (IFAD) $30,000,000 $30,000,000 $0 -$30,000,000 -100.00%

Environmental Trust Funds $139,575,000 $139,575,000 $0 -$139,575,000 -100.00%

Global Environment Facility (GEF) $139,575,000 $139,575,000 $0 -$139,575,000 -100.00%

Treasury Office of Technical Assistance (OTA) $30,000,000 $30,000,000 $30,000,000 $0 0.00%

TOTAL $1,547,698,000 $1,547,697,000 $1,552,205,000 $4,508,000 0.29%

 $ Change % Change 

 FY 2019 to FY 2020 FY 2018 

Enacted 

 FY 2020 

Request 

FY 2019 

Enacted
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MDB FY 2014  FY 2015  FY 2016  FY 2017 FY 2018 FY 2019 FY 2020

Enacted Enacted Enacted Enacted Enacted Enacted Request

IDA Core 434,475 437,275 530,747 624,219 488,949 488,949 488,949

IDA MDRI 245,700 423,855 610,006 630,649 809,469 993,659 1,223,149IBRD 5,964 5,963 5,963MIGA 6,867 6,867 6,867 6,867 6,867 6,867 6,867AfDF Core 146,018 162,350 178,682 178,682 156,169 156,169 156,169AfDF MDRI 54,000 65,120 86,257 108,613 114,738 137,049 160,575AfDB 1,700 1,700AsDF 326,701 310,501 294,653 284,740 283,944 276,147 276,147AsDB 5,609 5,608IDB 21,952 21,952 21,940MIF 29,088 25,710 25,710 25,710 25,710 25,710 25,710IFAD 5,763 5,763 3,833 3,833 3,833 3,833 3,833GEF 247,894 211,964 180,264 170,264 134,966 134,966 134,966TOTAL 1,531,730 1,684,628 1,944,921 2,033,576 2,024,644 2,223,348 2,476,364TOTAL (ex MDRI) 1,232,030 1,195,653 1,248,658 1,294,314 1,100,437 1,092,641 1,092,641

Unmet Commitments to Multilateral Development Banks

(in thousands of US dollars)
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Multilateral Development Banks

World Bank Group

The World Bank Group comprises the International Development Association (IDA), the 

International Bank for Reconstruction and Development (IBRD), the International Finance 

Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International 

Centre for Settlement of Investment Disputes (ICSID). Treasury is seeking funding for its 

current commitments to IDA and a new request for the IBRD general and selective capital 

increases.	

International Development Association

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

1,097,010,000 1,097,010,000 1,097,010,000 

Treasury requests $1,097 million in support of IDA programs over the eighteenth replenishment 

(IDA-18; FY 2018 – FY 2020), including towards the third of three installments to IDA-18. 

Program Description

IDA: 

 Makes highly concessional loans and grants to the world’s 75 poorest and most 

vulnerable countries. 

 Is the largest source of development finance in the world’s poorest countries, and 

operates across a range of sectors, including health, primary education, clean water and 

sanitation, governance, infrastructure, and business climate. During the World Bank’s 

fiscal year 2018 (July 1, 2017, to June 30, 2018), IDA supported 207 projects totaling 

$24 billion.

 Requires replenishments of resources every three years to continue its activities. IDA’s 

most recent replenishment (IDA-18) was finalized in December 2016 and will allow IDA 

to make new development commitments of up to $75 billion over three years, a $19 

billion increase over the previous replenishment. IDA has begun leveraging future 

reflows (equity) by borrowing from markets for the first time. IDA is in the process of 

exploring legal modalities for issuing debt to U.S. investors. 

 The United States pledged $3,291 million over three years towards the IDA-18 

replenishment. The United States is the second largest donor for IDA-18, behind the 

United Kingdom. The United States remains the largest IDA donor historically and 

holds the largest voting share. 
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 Is cost-effective: every $1 contribution from the United States to IDA-18 helps leverage 

nearly $16 in new donor contributions and internally generated resources. 

How IDA Promotes U.S. Interests

The economic development of the world’s poorest countries is one pillar of U.S. national security. 

IDA supports U.S. economic and national security interests by: 

 Reinforcing U.S. and international political and security objectives through economic 

growth, job creation, and the provision of social services in fragile and conflict-affected 

countries like Afghanistan, Chad, and Mali. 

 

 Advancing reforms that promote private investment, create jobs, and foster market-led 

economic growth in developing countries, thereby expanding markets for U.S. exports. 

 Responding to and limiting the spread of global crises, for example, by providing support 

to countries affected by famine and health emergencies, such as Yemen. 

Meeting IDA Commitments

U.S. unmet commitments to IDA replenishments and the Multilateral Debt Relief Initiative 

(MDRI) currently amount to approximately $1.5 billion. Failing to meet commitments to IDA 

and MDRI reduces IDA’s ability to provide loans and grants. Unmet commitments to IDA also 

damage U.S. credibility and undermine IDA’s ability to deliver on policy goals sought by the 

United States during the IDA-18 replenishment negotiations, such as a sharper focus on fragile 

states and allowing additional space for the private sector to operate. 

A growing component of the U.S. unmet commitments to IDA involves MDRI. Launched in 

2006 at the urging of the United States, MDRI provides 100 percent cancellation of eligible debt 

to IDA for countries that complete the conditions for debt relief under the Heavily Indebted Poor 

Countries (HIPC) Initiative. MDRI has allowed scarce resources in low-income countries to be 

reallocated for poverty-reducing expenditures in areas such as health and education. To prevent 

a depletion of IDA resources from debt relief, donors committed to compensate IDA for the 

cancelled debt on a dollar-for-dollar basis. The United States is behind on its commitments. At 

a 20.1 percent burden share, the U.S. share of the cost of MDRI under IDA-18 is $592.5 million. 

In addition the United States carries $630.6 million in MDRI unmet commitments from prior 

replenishments. The United States intends to apply credit that it earns for accelerating its core 

replenishment payments to IDA towards U.S. MDRI commitments. 

Achieving and Measuring Results

From FY 2011 – FY 2018, IDA reports achieving the following: 

 Provided 657 million people with essential health services; 

 Immunized 274 million children; 

 Provided access to better water services for 86 million people; 
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 Constructed, rehabilitated, or upgraded roughly 83,000 miles of roads; and 

 Recruited or trained more than 8.5 million teachers. 

In 2002, IDA adopted its Results Measurement System (RMS), an online scorecard that is 

updated annually and provides a snapshot of IDA’s performance and results across countries. 

IDA was the first multilateral development institution to use a framework with quantitative 

indicators to monitor results and performance. This approach has since been emulated by other 

development institutions. As part of the IDA-18 replenishment, the United States and other 

donors supported enhancements to the IDA RMS to align it with the Sustainable Development 

Goals and ensure data quality, efficiency, and harmonization with the World Bank Corporate 

Scorecard. The United States pushed to better track results and to ensure strong monitoring and 

evaluation frameworks for projects throughout the project cycle. 

The World Bank’s Independent Evaluation Group (IEG) measures the results of a completed 

IDA project against the indicators that the project set out to achieve. The IEG assigns ratings to 

completed projects based on the achievement of the projects’ intended outcomes and 

development objectives. IDA projects with outcome ratings of moderately satisfactory or above 

increased from 69 percent for FY 2010-2012 to 84 percent for FY 2015-2017 on a volumeweighted basis. 

Project Examples

Ethiopia. In 2012, IDA provided a $50 million concessional loan for the Women 

Entrepreneurship Development Project. The project is intended to increase the earnings and 

employment of micro and small enterprises owned or partly-owned by women. The women 

beneficiaries will have access to financial products tailored to help grow their businesses, as well 

as entrepreneurial and technical skills development programs. A survey of sample clients 

showed that the firms had increased their profits by 41 percent and employment of the firms by 

55 percent from 2013 to 2016. As of November 2018, 26,840 clients have received finance and 

training, and the project is rated highly satisfactory. It is expected to close in December 2019. 

Papua New Guinea. A $19.2 million IDA grant for the Reading Education Project approved in 

2011 allowed the government of Papua New Guinea to improve the quality of elementary and 

primary school teachers, with a focus on improving reading skills among students. Project funds 

supported the professional development of 11,044 teachers, increased the availability of reading 

materials within 10,595 classrooms to all 22 provinces, and strengthened an early grade reading 

assessment. The project was rated moderately satisfactory upon closing. 
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International Bank for Reconstruction and Development

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

- - $206,500,000 

Treasury requests $206.5 million for the International Bank for Reconstruction and Development 

(IBRD). This amount includes the first of six installments for the IBRD general (GCI) and 

selective (SCI) capital increases. 

Program Description

The IBRD is the arm of the World Bank that provides financing to creditworthy middle-income 

countries to promote broad economic growth and reduce poverty. These countries—home to 

over 70 percent of the world's poor and 5 billion of the world’s 7.7 billion people—utilize the 

combination of the IBRD’s financial resources and strategic advice to meet many development 

needs. 

The work of the IBRD is essential for the World Bank to achieve its Twin Goals by 2030: (1) to 

decrease extreme poverty to no more than 3 percent globally; and (2) to promote shared 

prosperity by fostering income growth among the poorest 40 percent. IBRD projects reach 

across a range of sectors, including governance, agriculture, sustainable infrastructure, health and 

nutrition, and education. The IBRD supports long-term human and social development needs 

that private creditors are less willing to finance. During the World Bank’s 2018 fiscal year, the 

IBRD approved $23 billion in loans and technical assistance. The Middle East and North Africa 

(25.8 percent) received the largest portion of the IBRD’s new lending, followed by South Asia 

(19.5 percent). 

The IBRD raises resources similar to a conventional bank by issuing debt and on-lending to 

borrowers at market-linked rates. This model enables the IBRD to provide significantly more 

capital than if donor countries were to directly provide grant development assistance. In 

response to significant demand among developing countries and the global community to address 

pressing development challenges, in 2018 shareholders committed to provide additional capital 

to the IBRD. 

The United States is the largest shareholder in the IBRD, with a 15.98 percent share of total 

voting power, followed by Japan and China. The United States is the only country with veto 

power over amendments to the IBRD Articles of Agreement. 

	 	
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How IBRD Promotes U.S. Interests

The IBRD is the largest development bank in the world. As such, it is uniquely positioned to 

address development challenges in specific countries and key global concerns that impact U.S. 

national security and economic growth. 

 The IBRD provides economic stability for strategically important countries, such as 

Jordan, Iraq, Ukraine, El Salvador, Guatemala, Colombia, and others, by providing a less 

expensive source of funds to their overall external financing.

 The IBRD is an important vehicle for U.S. foreign policy priorities in areas like women’s 

economic empowerment, youth education and job training, and reducing violent 

extremism. 

 The IBRD works with borrower countries to pursue pro-growth economic reforms that 

encourage private sector investment and job creation, as well as expand vital public 

services in health, education, and sanitation. 

 By leveraging international bond markets and funds of other shareholders, the IBRD 

allows the United States to achieve development goals at a level beyond what it could do 

on a bilateral basis. 

 IBRD investment promotes transparency and high standards for procurement, debt 

sustainability, and social and environmental safeguards.

Meeting IBRD Commitments

Without providing funds for the U.S. portion of the GCI and SCI, the United States will risk 

losing IBRD shareholding, which determines voting power. This loss of shareholding could lead 

to a loss of U.S. leadership and influence at the World Bank, including a loss of the U.S. veto 

power over amendments to the Articles of Agreement. 

Funding the IBRD capital increase will lock in a set of transformational reforms that the United 

States negotiated in concert with other shareholders and World Bank Management. These 

reforms closely align with U.S. national security, foreign policy, and economic priorities. The 

reforms will make the World Bank more financially-disciplined, focus its operations in countries 

that have less access to other sources of finance, and ensure it operates more efficiently. 

As part of the IBRD reform package, the United States insisted the IBRD adopt a financial 

sustainability framework that will restrict annual lending commitments to those that can be 

sustained, in real terms, over a rolling ten-year horizon through organic capital accumulation 

alone. This framework will also include a capital buffer to allow the IBRD to respond to crises 

without jeopardizing its financial position. The framework increases the transparency and 

financial discipline of the IBRD and significantly lessens the likelihood of a future capital 

increase. 
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In order to direct more resources to countries where scarce development resources are needed 

most, the United States and other shareholders instituted a policy that requires the IBRD to 

increase its share of annual lending to countries below the IBRD’s graduation income threshold 

to 70 percent (from the FY 2017 level of 60 percent). For FY 2019, the IBRD has already 

introduced differentiated loan prices, making it the first multilateral development bank to adopt 

differentiated prices for non-concessional sovereign lending. This practice will complement 

IBRD’s commitment to implementing its graduation policy more robustly. 

Finally, the reform and capital package introduced constraints on World Bank staff salaries, 

which are the largest driver of increases in the administrative budget. These reforms will 

increase the performance of the World Bank and help ensure a more efficient use of IBRD funds, 

important for a public institution with the purpose of eliminating global poverty. 

Achieving and Measuring Results

Over its FY 2015 to FY 2017, the World Bank, including the IBRD, achieved the following: 

 Provided 47.8 million people with access to clean water; 

 Provided 273.2 million people with health and nutrition services; 

 Recruited or trained 11.6 million teachers; 

 Helped 4.8 million farmers adopt improved agricultural technology; 

 Catalyzed $30.2 billion in private investment; and 

 Strengthened public procurement systems in 21 countries. 

Project Examples

Jordan. In 2017, the Jordan Education Reform Support Program was financed through a $147 

million non-concessional IBRD loan and $52 million in concessional support from the Global 

Concessional Financing Facility (GCFF). The government of Jordan will provide $500 million 

in co-financing. Through a series of policy reforms and investments, the project is expected to 

increase the number of Jordanian and Syrian refugee children in pre-school, increase access to 

primary and secondary school for Syrian refugee children, and improve the national teacher 

training and assessment program. The GCFF is a multi-donor partnership that provides 

financing for developing countries hosting large amounts of refugees. The United States is a 

founding member and contributor to the GCFF. 

Guatemala. A $45 million IBRD loan for the Urban Infrastructure and Violence Prevention 

Project, approved in 2016, will help the government of Guatemala to reduce risk factors of crime 

and improve access to basic urban services and local infrastructure. Students, teachers, and 

parents will take part in violence prevention initiatives, and qualifying youth will have access to 

job preparation training. Basic infrastructure upgrades, such as installation of public lighting, 

construction of safe roads and pedestrian walkways, and the rehabilitation of public spaces, aim 

to decrease the prevalence of crime. 
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International Finance Corporation

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

- - - 

Treasury is not requesting funding for the International Finance Corporation (IFC). However, 

Treasury is requesting authorization to vote in favor of four resolutions to allow other 

shareholders to contribute additional capital while preserving U.S. veto power over future capital 

increases. The resolutions will: (1) convert a portion of the IFC’s retained earnings to paid-in 

capital stock, which will result in the United States increasing its shareholding without any cash 

contribution; (2) authorize a general capital increase; (3) authorize a selective capital increase; 

and (4) amend the IFC Articles of Agreement to lower the veto threshold for future capital 

increases of the IFC from 20 percent of the voting power to 15 percent, hence preserving the 

United States’ veto. The United States will not provide any cash contributions to the IFC, which 

will lower U.S. voting power in the IFC from 20.99 percent to 16.39 percent, which is more 

closely aligned with U.S. voting power in the IBRD. 

Program Description

The IFC promotes private sector development in developing countries by making loans and 

equity investments in private sector projects, mobilizing private capital alongside its own 

resources, and providing advisory and technical assistance services. In FY 2018, the IFC 

approved $11.6 billion from its own resources, and mobilized an additional $11.6 billion from 

other sources, for 366 projects in 74 countries. Of the IFC’s own resources and mobilized 

private finance, more than $6.8 billion was for the poorest countries (those eligible for funding 

from IDA). IFC investments in 2018 were spread across the globe, with the largest recipient 

regions being Latin America and the Caribbean (21.5 percent), Europe and Central Asia (19.4 

percent), and South Asia (17.8 percent). The top sectors for IFC investment in 2018 were 

financial markets (47.3 percent), infrastructure (17.8 percent), and agribusiness and forestry (8.2 

percent). The IFC also spent $273 million for advisory services in 2018, with Sub-Saharan 

Africa receiving $86 million (32 percent). 

 
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Asian Development Bank 

The Asian Development Bank comprises the Asian Development Fund (AsDF) and the Ordinary 

Capital Resources of the Asian Development Bank (AsDB). As there are no outstanding U.S. 

capital commitments, Treasury is seeking funding only for AsDF. 

Asian Development Fund 

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

47,395,000 47,395,000 47,395,000 

Treasury requests $47.4 million in support of AsDF programs over the eleventh replenishment 

(AsDF-12; FY 2018 – FY 2021), including towards the third of four installments to AsDF-12. 

Program Description

The AsDF is a grants-only fund that supports Asia’s poorest countries. There are 18 countries 

eligible for AsDF grants. AsDF grants help reduce poverty, support economic growth, mitigate 

and respond to disaster risks, and provide support for fragile and conflict-affected states. 

 In 2018, total AsDF approvals were about $1 billion, of which over 60 percent supported 

infrastructure projects in the energy, water, and transportation sectors. 

 During 2017–2020, AsDF will provide up to $200 million in grants for disaster risk 

reduction and up to $218 million to facilitate faster disaster response and reduce 

humanitarian expenditures by AsDF countries and donors in the wake of natural disasters 

in the region. 

 The merger on January 1, 2017 of the AsDF concessional lending resources and AsDB’s 

Ordinary Capital Resources reduced the level of donor contributions needed for the 

AsDF-12 replenishment by 47 percent while increasing the level of grants and 

concessional loans available to Asia’s poorest countries. 

 The United States pledged $189.6 million over four years, a 47 percent decrease from the 

previous replenishment. This decrease allows for $170 million in savings while allowing 

the United States to remain the third-largest donor, after Japan and Australia. Every $1 

contribution from the United States to AsDF-12 leverages almost $20 in new donor 

contributions and internally generated resources. 
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How AsDF Promotes U.S. Interests

AsDF assistance helps achieve U.S. national security and foreign policy objectives in Asia and 

the Pacific. 

 Assistance for Rohingya Refugees:  The AsDF is providing $100 million in grants as 

the first phase of a proposed $200 million package to Bangladesh to support basic 

infrastructure and services for displaced Rohingya. AsDF grants will help fund projects 

in the water supply and sanitation, disaster risk management, energy, and roads sectors. 

 Providing a Superior Source of Development Financing for Small States: In 

November 2018, the AsDB Board approved a proposed increase in the base allocation of 

AsDF-eligible countries for 2019 and 2020. The base allocation for AsDF countries will 

rise from $6 million to $13 million over the remainder of the AsDF-12 implementation 

period. Given development needs and capacity constraints, small states, including Pacific 

Island states, are especially vulnerable to unfavorable and non-transparent lending which 

do not contribute meaningfully to development. An increased base allocation benefits the 

smallest, poorest countries the most by expanding the pool of available grant financing. 

 Financing Afghanistan’s Development: The AsDF has played an important role 

helping Afghanistan to develop and rehabilitate its infrastructure, improve trade linkages 

with neighboring countries, and provide basic services through special allocations for the 

country. 

Meeting AsDF Commitments

The United States has approximately $276 million in unmet commitments to the AsDF, which 

adversely affect the AsDF and U.S. leadership in the institution. Without fully funding its 

commitments, the United States risks impairing the ability to shape the direction of AsDF 

policies and activities, as well its ability to ensure that sufficient concessional finance is available 

to strategically important countries like Afghanistan. AsDF rules, moreover, allow other donors 

to withhold their pledged contributions proportionally based on U.S. unmet commitments. 

Achieving and Measuring Results

In 2016, AsDF reports achieving the following: 

 Connected 100,000 new households to electricity; 

 Built or upgraded over 1,100 miles of road; 

 Connected 278,000 households with new and improved water supplies; 

 Supported 930,000 students with new or improved educational facilities; 

 Trained 278,000 teachers to improve teaching quality and meet competency standards; 

and 

 Provided microfinance accounts to more than 2 million people, of which over threequarters were women. 
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The AsDB reports on results through its annual Development Effectiveness Review (DEfR) and 

Performance Scorecard, which compiles project-level outputs. In particular, the DEfR measures 

whether projects are effective, completed on time and according to benchmarks, and sustainable 

after the conclusion of AsDB or AsDF involvement. These standards are used to compile 

lessons learned and improve future projects. 

Results in recent years have shown continued progress on the AsDF’s development 

effectiveness. During 2015-2017, 75 percent of completed AsDF projects that were validated by 

the AsDB’s Independent Evaluation Department (IED) were rated successful, up from 64 percent 

in 2011-2013. Technical assistance projects were among the most successful, with a success rate 

of 85 percent. From 2015-2017, the IED also rated 61 percent of AsDF projects as likely 

sustainable. The metric allows AsDF staff to measure factors, including policy, regulatory 

environments and administrative capacity, which impact the ultimate success of projects after 

AsDF involvement ends. 

Project Examples

Bhutan. AsDF’s $16.1 million grant supplemented a concessional loan and technical assistance 

to strengthen the Government of Bhutan’s capacity in public financial management. Key reform 

areas included debt management, domestic revenue mobilization, and financial sector stability. 

The program, completed in 2017, helped contribute to deepening Bhutan’s external buffers, 

turning a fiscal deficit into a surplus, and reducing the non-performing loan ratio of banks. 

Following completion of the program, the Government of Bhutan has demonstrated a strong 

commitment to continued macroeconomic reforms. 

Kiribati. The AsDF provided a $3 million grant to support the implementation of a multi-year 

fiscal reform program. The program focused on improving (1) the quality of expenditure, 

including eliminating subsidies for state-owned enterprises from the national budget; (2) revenue 

administration, including broadening the tax base through value added tax reforms and reviewing 

fishing license agreements; (3) management of public assets and liabilities through strengthening 

debt management; and (4) structural reform implementation. The government was able to 

replenish its reserve fund and maintain a healthy fiscal surplus, with overall revenue especially 

benefiting from fishing license revenues. 

 
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African Development Bank Group

The African Development Bank Group comprises the African Development Bank (AfDB) and 

the African Development Fund (AfDF). As there are no outstanding U.S. capital commitments 

to the AfDB, Treasury is seeking funding only for the AfDF.			

African Development Fund 

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

171,300,000 171,300,000 171,300,000 

Treasury requests $171.3 million in support of AfDF programs over the fourteenth replenishment 

(AfDF-14; FY 2018 – FY 2020), including towards the third of three installments to AfDF-14. 

Program Description

 The AfDF provides grants and highly concessional loans to the 38 poorest countries in 

Africa, of which half are fragile and conflict-affected states. The AfDF approved 

approximately $1.8 billion in financing in 2018. Approximately 63 percent of 2018 

approvals were to infrastructure projects (mainly energy, transportation, and water supply 

and sanitation), with other key sectors being agriculture, finance, and social sectors. 

 

 The AfDF is financed by donor countries, including the United States, and requires new 

donor resources every three years. In November 2016, the United States joined other 

donors to conclude negotiations on the AfDF-14 replenishment, which totaled $5.9 

billion. The United States pledged $513.9 million over three years, which represents 

$71.1 million in savings relative to the previous replenishment. With this reduction, the 

United States is the third largest donor to AfDF-14 (behind the United Kingdom and 

Germany). The United States is historically one of the largest donors to the AfDF and 

currently has a 5.3 percent voting share at the AfDF (just behind Japan and Germany). 

Every $1 in U.S. contributions to AfDF-14 leverages more than $11 in contributions from 

other donors and internally generated resources. 

 

How AfDF Promotes U.S. Interests

 Supports National Security: Nineteen of the AfDF’s 38 recipient countries are fragile 

and conflict-affected states, including countries such as Mali, Chad, and Niger that are on 

the front-lines of the fight against terrorism in Sub-Saharan Africa. Over 2017-2019, 

approximately half of the AfDF’s financing will be used to combat instability in fragile 

and conflict affected states, including through projects to strengthen governance and anticorruption. 

 Reduces Humanitarian and Health Crises: AfDF financing addresses the root causes 

of migration flows and humanitarian crises in Africa’s poorest countries. The AfDF 
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helps reduce fragility, builds infrastructure, strengthens food security, and supports 

private-sector led growth and economic diversification, thereby creating jobs for Africa’s 

growing youth population. 

 Supports the Administration’s Africa Strategy: The AfDF’s work to enhance 

economic growth and improve stability and governance helps support the 

Administration’s objectives of increasing trade and investment with African partners. 

Meeting AfDF Commitments

U.S. unmet commitments to the AfDF replenishments and the Multilateral Debt Relief Initiative 

(MDRI) currently amount to approximately $293 million. These unmet commitments decrease 

the financial capacity of the AfDF, thereby reducing the funding available to address instability 

in fragile states, the root causes of migration and humanitarian crises, and health emergencies. 

They also undermine U.S. credibility and leadership at a time when the AfDB Group is 

undertaking many critical reforms on which the United States is a leading voice. 

Achieving and Measuring Results 

In 2017, the AfDB reported that programs in AfDF countries: 

 Built 1,706 miles of power distribution lines; 

 Provided 13 million people with improved access to transport; 

 Created 1.4 million jobs; 

 Provided 7.5 million people with new or improved access to water and sanitation; and 

 Supported improvements in agricultural productivity benefiting 7.8 million people. 

AfDF-14 includes a set of 41 commitments for the AfDF to achieve over 2017-2019. These 

commitments cover the AfDF’s development work as well as its institutional efficiency and 

effectiveness. Each commitment includes at least one measurable indicator; for example, under 

the job creation commitment, the AfDF’s interventions aim to support jobs for 3.6 million youths 

and provide job training for 2.2 million people by 2019. 

Project Examples 

Ghana. Completed in 2016, the Accra Sewerage Improvement Project increased access to 

sanitation services in the city by 13 percent. Under the project, the government improved and 

extended the city’s sewerage and sanitation system in an environmentally and socially 

sustainable manner. Thanks to AfDB financing, Ghana constructed two waste treatment plants, 

8 pumping stations, 26 km of force mains, 6.8 km of gravity mains, and 1.25 km of marine 

outfall sewers. The government also rehabilitated and/or extended 63 km of sewers and 

connected 7,000 unserved city residents to Accra’s sanitation system. 

Cameroon. Completed in 2017, the Cameroon Rural Drinking Water Supply and Sanitation in 

Four Regions Project achieved substantial positive results – achieving higher rates of household 

access to safe water and sanitation sources than initially programmed. Under the project, the 

government established nearly 100 simplified drinking water supply systems, 326 shared latrines 
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for schools and health centers, and two gender-specific toilet complexes. The government also 

more than doubled the number of people sensitized on water and sanitation hygiene than initially 

programmed. The project also created nearly 1,200 jobs. 

 
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North American Development Bank

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

- - - 

Treasury is requesting authorization to subscribe to the paid-in capital shares for which funding 

was appropriated in FY 2016 for the North American Development Bank (NADB). Subscribing 

to these shares will allow the United States to reestablish shareholding parity with Mexico with 

respect to the paid-in capital shares in the NADB. Treasury is not requesting new funding for 

NADB in FY 2020. 

Program Description

NADB, founded in 1994 by the United States and Mexico, provides financing for environmental 

infrastructure projects within the areas up to 100 kilometers (62 miles) north and 300 kilometers 

(186 miles) south of the U.S.-Mexico border. These projects, implemented on both sides of the 

border, improve the quality of life for residents of the border region, strengthen municipal 

services, and create new jobs and business opportunities. Key areas of focus include wastewater 

collection and treatment, air quality improvements, solid waste management, and renewable 

energy. Prior to being eligible for NADB financing, all projects must be certified for their 

environmental benefits. NADB is well-respected among states and communities along the 

border, where it has had a tangible impact on the environment and the lives of the region’s 

residents. 

Under NADB’s charter, the United States and Mexico agreed to contribute equally to NADB’s 

authorized capital stock, and each country has a 50 percent voting share. In 2016, Mexico 

subscribed to $10,000,000 in new paid-in capital and $56,666,700 in new callable capital. 
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Environmental Trust Funds

Global Environment Facility

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

139,575,000 139,575,000 - 

No funding is requested in FY 2020, as the Consolidated Appropriations Act, 2019 provides 

more than double the amount requested for FY 2019. In an effort to smooth payments in support 

of the seventh replenishment, the Administration will not request funding in FY 2020 but still 

supports the U.S. pledge of $273.2 million to GEF-7. This pledge level will support important 

international environmental, toxic chemical, and biodiversity conservation activities through the 

GEF, while pursuing a more balanced share among donor countries as we seek to advance shared 

priorities. 

 

Program Description

The GEF is a multilateral trust fund that provides grants for environmental projects in developing 

countries and emerging markets. Currently, the GEF funds projects in 165 countries in areas such 

as wildlife trafficking, chemical pollution, and conservation of oceans and land. 

How GEF Promotes U.S. Interests

The GEF benefits the U.S. economy and environment by addressing many external environmental 

problems that affect our domestic health, safety, and prosperity. For example, GEF projects: 

 Reduce pollution and prevent toxic chemicals such as mercury from making their way 

into the air, water, and U.S. food supply; 

 Support America’s logging industry by curbing international illegal logging through 

sustainable forest management projects, thereby leveling the playing field for lumber and 

other related products; 

 Fight wildlife trafficking and strengthen protected area enforcement, eliminating a source 

of funding for criminal groups in Africa and the Middle East with the aim of reducing 

conflicts and promoting national security interests; and 

 Conserve fish stocks outside U.S. waters and promote sustainable fishing practices in the 

Pacific and Atlantic oceans, as well as the Gulf of Mexico, which are critically important 

to the U.S. food supply chain and a significant revenue source for U.S. fishing 

companies.
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In many countries, GEF investments pave the way for greater business opportunities for U.S. 

companies by helping to establish new markets and improving the investment climate related to 

environmental conservation and protection. 

Meeting GEF Commitments

After the United States makes a payment toward the first and second GEF-7 installments, the 

United States will maintain its influence. This commitment will allow the United States to 

promote difficult policy changes at the GEF, such as lowering allocations for climate change 

projects and increasing co-financing expectations for middle-income recipient countries. U.S. 

unmet commitments to the GEF currently stand at approximately $135 million. 

Achieving and Measuring Results

Between the start of GEF-6 and May 2018, the fund has approved a total of 420 projects, which 

are expected to achieve the following results: 

 Protection and sustainable use planning of 463 million hectares of landscapes and 

seascapes to promote animal and plant biodiversity conservation; 

 Co-financing at a rate of $7 for each GEF-6 dollar invested; 

 Safe disposal of 76,251 metric tons of toxic and hazardous pesticides and reduction of 

more than 638 metric tons of mercury emissions, thereby promoting healthy 

communities, water quality, and food systems; and 

 Stabilization of 13 percent of globally over-exploited fisheries and promotion of more 

sustainable levels of fishing to ensure such resources are available for future generations. 

Every four years, the GEF’s Independent Evaluation Office produces a comprehensive 

evaluation of past project and operational performance. These evaluations influence the 

programming objectives for the next replenishment period. 

Project Examples

Kenya Marine Conservation for Ecotourism Development ($36,833 grant, $25,203 in cofinancing). This investment sought to train local communities in coral restoration and 

monitoring as a way to restore fisheries and enhance ecotourism in the area. Funding supported 

training for local monitors to monitor the coral and community engagement and coordination. 

Ethiopia Project to Promote Environmentally Sound Management of Electronic Waste ($1 

million grant, $2 million in co-financing from the Ethiopian Government, U.S. Environmental 

Protection Agency, Nokia, and Dell). This project provided training for local technicians to be 

able to dispose of electronic waste in a safe and efficient manner. The project also provided 

policy and regulatory reform support, which resulted in new e-waste legislation. The GEF 

worked with local authorities to create an e-waste management strategy. External evaluators 
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deemed the project to be expertly designed and the Government of Ethiopia and the GEF to be 

very forward-thinking in identifying this need and determining appropriate solutions. 
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Technical Assistance

Office of Technical Assistance

FY 2018 

Enacted 

FY 2019 

Enacted 

FY 2020 

Request 

30,000,000 30,000,000 30,000,000 

Treasury is seeking $30 million for its Office of Technical Assistance (OTA). 

Program Description 

OTA works with finance ministries, central banks, and related government institutions to support 

efficient revenue collection, well-planned and executed budgets, judicious debt management, 

sound banking systems, and strong controls to combat money laundering and other economic 

crimes. OTA complements the work of Treasury’s offices of International Affairs and Terrorism 

and Financial Intelligence by helping the governments of developing and transitional countries build 

the human and institutional capacity to implement improvements in economic and terrorist 

financing policies. OTA also supports partner countries’ efforts to more effectively raise their own 

domestic resources, reducing dependence on foreign assistance. OTA’s work is critical for 

meeting U.S. foreign policy goals, such as private sector-led economic growth, reduced 

corruption, and increased accountability and transparency. OTA is a small, cost-effective 

program that leverages a cadre of highly experienced technical advisors who work side-by-side 

with host country counterparts. Currently, OTA has projects in approximately 50 countries in 

Latin America, Africa, Europe, Asia, and the Middle East. 

Demand for OTA assistance around the world is strong and continues to increase. OTA would 

use the requested budget resources in FY 2020 to be able to respond quickly and in a sustained 

way to this growing demand in areas that are priorities for the United States, including 

combating terrorist financing and financial crimes, reducing countries’ dependence on foreign 

financial aid through improved domestic resource mobilization, and creating the conditions for 

private sector-led economic growth, including by improving the climate for private sector 

investment in infrastructure projects in developing and transitional countries. 

How OTA Promotes U.S. National Security 

OTA performs an important role in support of U.S. national security by helping developing and 

transitional countries combat financial crimes, money laundering, and terrorist financing. In 

addition, OTA’s role stabilizes banking systems, develops capital markets, improves the 

investment climate, including for infrastructure, and improves transparency and accountability in 

government finances, helping to spur private-sector led economic growth which, in turn, 

supports the development of foreign markets for U.S. exports. 
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Achieving and Measuring Results 

OTA has a robust system for monitoring and evaluating program performance, from project 

initiation through execution, to post-project evaluation. For each project, OTA and the relevant 

foreign ministry or central bank identify the high-level aims of the engagement, which are 

reflected in signed terms of reference. The terms of reference are complemented by a detailed 

work plan specifying the activities, deliverables, and timelines for achieving those goals, as well 

as the outcomes that will provide evidence that the goals have been met. In addition, OTA 

advisors provide monthly reports and trip reports to Treasury leadership and other stakeholders 

on the execution of the work plan, including progress against project objectives. 

These reports are validated through ongoing dialogue with advisors coupled with on-site project 

reviews conducted by OTA management. In addition, post-project reports evaluate the results of 

completed technical assistance, and are used as a basis to improve the planning and execution of 

future projects. 

OTA closely monitors the level of “traction,” or the degree to which changes in partner 

governments’ behavior occur as a result of OTA assistance (e.g., the number of foreign officials 

who are taking an active role in pursuing change, or interim deliverables that are on time or 

ahead of schedule). Levels of traction are measured by OTA advisors and headquarters staff 

according to specific indicators that are relevant to each of the five OTA core areas. OTA also 

uses a customer survey instrument to collect information directly from country counterparts who 

have first-hand knowledge of OTA engagements. 

OTA is in the process of enhancing its evaluation regime in accordance with the Foreign Aid 

Transparency and Accountability Act of 2016 (FATAA). The proposed enhancements would 

include an independent (third-party) evaluation of projects after the completion of the second 

year of technical assistance activities and 6-12 months after project activities cease. The 

evaluations will provide objective insights into projects that would allow for course-corrections 

and inform both ongoing and planned engagements. For example, an evaluation of a project in 

the budget area may measure the extent to which the project helped to enhance transparency, 

accountability, and control over financial resources through the implementation of a new budget 

classification system. Results of evaluations will be made available to the public.

OTA monitoring and evaluation have consequences: projects showing results receive continued 

investment of OTA resources, while poorly performing projects, such as those where OTA’s 

counterparts lack political will to implement reform, are terminated and the resources reallocated 

to other projects. 

Recent Examples of Successful Projects 

Argentina Improves Anti-Money Laundering / Countering the Financing of Terrorism 

Analysis. Argentina’s Financial Intelligence Unit (FIU) incorporated OTA recommendations, as 

well as technical guidance from U.S. supervisory counterparts facilitated by OTA, into the 

issuance of new, comprehensive anti-money laundering / countering the financing of terrorism 

(AML/CFT) regulations for the Argentine financial sector. Under the strengthened regulations, 
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banks, exchange houses, and money remitters will be obligated to conduct risk assessments, to 

rate clients on the basis of risk, and to implement controls to minimize these risks. Analysts at 

the unit have also successfully applied OTA guidance in developing stronger analytic products, 

such as incorporating open source databases to gather intelligence on corporate entities and real 

estate holdings in the United States. FIU attorneys also utilized OTA training on the use of a 

U.S. federal court database to locate information beneficial to Argentine prosecutions. 

Zambia Improves Collection of Arrears. The Zambia Revenue Authority reorganized its debt 

management system and instituted new procedures that resulted in significant revenue gains. 

OTA advised the Zambia Revenue Authority on optimal staffing levels and managerial controls 

and helped to document key procedures, including quality standards. As a result of these 

administrative reforms, 2,258 arrears cases were closed in 2017 compared to 73 the prior year, 

with revenue from enforcement actions rising to $410 million from $97 million the previous 

year, a more than 300 percent increase.

 
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Annex 1: MDB Basics

What are the MDBs?		

The United States is a member of several development institutions, including the: 

 World Bank 

 Asian Development Bank 

 Inter-American Development Bank 

 African Development Bank 

 European Bank for Reconstruction and Development 

 International Fund for Agricultural Development 

The development banks are international financial institutions, but they differ from commercial 

banks in their mandate and structure. They are owned by both borrowing and non-borrowing 

countries and provide financial and technical assistance to developing countries. The United 

States is the largest shareholder in the World Bank, Inter-American Development Bank, 

European Bank for Reconstruction and Development and the International Fund for Agricultural 

Development; the co-largest shareholder (with Japan) in the Asian Development Bank; and the 

largest non-regional and second-largest overall shareholder in the African Development Bank. 

What is Treasury’s role?		

In the U.S. Government, Treasury is charged with leading U.S. engagement in the MDBs. For 

the five largest MDBs in which the United States participates, a U.S. Executive Director 

(USED), who is based at each bank, is appointed by the President and confirmed by the Senate to 

represent U.S. interests, engaging daily in meetings at various levels and casting votes 

throughout the year. Treasury works closely with the USEDs and a wide-ranging interagency 

group on MDB issues. Additionally, Treasury provides direction for how to vote on projects and 

policies to the USEDs. The Secretary of the Treasury traditionally serves as the U.S. Governor 

to each MDB, and votes on high-level institutional matters that involve major changes to the 

structure or financing of the organization. 

How do the MDBs finance development projects?		

Most of the MDBs have two financing facilities, which are frequently referred to as “windows,” 

from which they make loans, provide guarantees and other financial instruments, and provide 

grants: the “non-concessional” window (also referred to as “hard loan windows”) and the 

“concessional” window (also referred to as “soft loan windows”). Some institutions have a third 

window for private sector operations, whereas others make private sector investments from their 

“non-concessional” windows. Each institution can also serve as trustee for specialized funds 

established at the request of member countries. 

 The non-concessional windows primarily provide loans at market-linked interest rates to 

middle-income countries, such as Colombia, Egypt, Indonesia, and Botswana. 
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 The concessional windows provide some combination of grants, very low interest loans 

with long tenors, and a limited supply of market-linked loans to countries with per capita 

incomes below a certain threshold and that lack the creditworthiness to access other 

financing sources, including the non-concessional windows. The concessional windows 

for each MDB are: 

o International Development Association (World Bank Group) 

o Asian Development Fund (Asian Development Bank) 

o African Development Fund (African Development Bank Group) 

The United States is also a contributor to the International Fund for Agricultural Development, 

which functions like an MDB concessional window. Because the European Bank for 

Reconstruction and Development and North American Development Bank are private sectororiented, they do not have a concessional window, while the Inter-American Development Bank 

provides both non-concessional and concessional funding from one window. The Asian 

Development Bank provides both non-concessional and concessional loans from its Ordinary 

Capital Resources; the Asian Development Fund provides only grants. 

How are the MDBs funded?		

Countries are referred to as “shareholders” in an MDB and hold a certain percentage of shares, 

and therefore voting power, based on their contributions. 

At times, shareholders provide new funding to support the non-concessional or concessional 

windows. This funding can take three forms: 

 Donor replenishments 

 General capital increases 

 Selective capital increases 

Donor Replenishments 

Because the concessional windows provide most of their funding to the poorest countries as 

grants or very low-cost, long-term loans, these windows deplete their funding over time and 

require periodic “replenishment” by donor countries every three to four years. When fully 

funded, U.S. funding commitments are paid out in equal installments over the replenishment 

period. 

General Capital Increases 

Under a general capital increase (GCI), MDB shareholder governments decide to provide 

additional capital to support the MDBs’ non-concessional or private sector windows by 

purchasing new shares in the institution. Unlike concessional windows, the non-concessional 

and private sector windows are expected to be more financially self-sustaining, requiring 

additional member state contributions less frequently, provided they follow prudent capital 

management policies. However, global and regional economic conditions or shareholders’ 

desire to see an MDB provide higher levels of finance in support of particular aspects of a 
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region’s development agenda may lead to member countries negotiating to provide new capital 

to the MDB through a GCI. In these cases, member countries negotiate the total amount of 

additional capital required and the amount to be provided by each member. 

The financing arrangements for GCIs are unique. Unlike replenishments, only a small portion of 

the total commitment is paid directly to an MDB. This portion is called “paid-in” capital, and 

typically ranges from 5-10 percent of the total increase. The pay-in period often ranges 

significantly (e.g., from three to eight years). 

The remainder of the commitment is made in the form of “callable capital.” Callable capital 

represents a financial commitment made by shareholders, but there is no actual transfer of funds. 

These commitments are meaningful because they enable the MDBs to strengthen their credit 

ratings and reduce borrowing costs, and, in turn, lend to borrowers at rates lower than what they 

could obtain in the markets. This capital is “callable” under limited and specifically enumerated 

circumstances to meet the obligations of the respective MDBs. No MDB has made a call on 

callable capital to date. 

If a shareholder fails to purchase the shares that it decided to buy in the capital increase 

negotiations, the relative shareholding and voting power of that country will be diluted. Under 

the rules in place for most GCIs, voting shares are adjusted to reflect contributions as they come 

in from shareholders, such that delayed contributions will have an impact on the current voting 

share. Any shares allocated to a country that are not paid for within the allotted subscription 

period are moved to the MDB’s unallocated capital, potentially making these shares available for 

other shareholders to acquire. Several countries seeking to expand their influence in the MDBs 

have expressed an interest in purchasing shares when they become available in this manner. 

Selective Capital Increases 

A selective capital increase (SCI) is not intended primarily as a fundraising vehicle, but is used 

to allocate new shares to effect changes in the relative voting power of members of an MDB or 

accommodate accession by new members. Unlike a GCI, where shares are allocated to members 

in proportion to their existing shareholding, countries subscribe to different levels of shares 

under an SCI to achieve the desired realignment in voting power. Countries may have to 

purchase shares under an SCI in order to maintain their voting power or limit dilution, but the 

total capital increase under an SCI is typically much smaller than under a GCI. 

 
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Annex 2: FY 2020 Appropriations Language and Authorization

Request

Below is a summary of proposed appropriations language and authorization request. 

FY 2020 Appropriations Language

CONTRIBUTION TO THE INTERNATIONAL BANK FOR RECONSTRUCTION AND 

DEVELOPMENT

For payment to the International Bank for Reconstruction and Development by the Secretary of 

the Treasury for the United States share of the paid-in portion of the increases in capital stock, 

$206,500,000, to remain available until expended. 

LIMITATION ON CALLABLE CAPITAL SUBSCRIPTIONS 

The United States Governor of the International Bank for Reconstruction and Development may 

subscribe without fiscal year limitation to the callable capital portion of the United States share 

of increases in capital stock in an amount not to exceed $1,421,275,728.70. 

 

CONTRIBUTION TO THE INTERNATIONAL DEVELOPMENT ASSOCIATION

For payment to the International Development Association by the Secretary of the Treasury, 

$1,097,010,000, to remain available until expended. 

CONTRIBUTION TO THE ASIAN DEVELOPMENT FUND 

For payment to the Asian Development Bank's Asian Development Fund by the Secretary of the 

Treasury, $47,395,000, to remain available until expended. 

CONTRIBUTION TO THE AFRICAN DEVELOPMENT FUND 

For payment to the African Development Fund by the Secretary of the Treasury, $171,300,000, 

to remain available until expended. 

INTERNATIONAL AFFAIRS TECHNICAL ASSISTANCE 

For necessary expenses to carry out the provisions of section 129 of the Foreign Assistance Act 

of 1961, $30,000,000, to remain available until September 30, 2022 which shall be available 

notwithstanding any other provision of law. 

 
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FY 2020 Authorization Requests

North American Development Bank General Capital Increase 

SEC. 7064. Part 2 of subtitle D of title V of Public Law 103–182, as amended (22 U.S.C. 290m et 

seq.), is further amended by adding at the end thereof the following new section: 

"Sec. 547. Capital Increase. 

(a) Subscription Authorized.— 

(1) The Secretary of the Treasury may subscribe on behalf of the United States to 1,000 

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. 

(b) Limitations on Authorization of Appropriations.— 

(1) In order to pay for the increase in the United States subscription to the Bank under 

subsection (a), there are authorized to be appropriated, without fiscal year limitation, 

$10,000,000 for payment by the Secretary of the Treasury. 

(2) The amount authorized to be appropriated under paragraph (1) shall be for paid-in 

shares of the Bank.”. 

International Finance Corporation 

SEC.7072. The International Finance Corporation Act, Public Law 84-350, as amended (22 

U.S.C. 282 et seq.), is further amended by adding at the end thereof the following new section: 

“Sec. 18. Capital Increases and Amendment to the Articles of Agreement. 

(a) Votes Authorized.—The United States Governor of the Corporation is authorized to vote in 

favor of— 

(A) a resolution to increase the authorized capital stock of the Corporation by 

16,999,998 shares, to implement the conversion of a portion of the retained earnings of the 

Corporation into paid-in capital, which will result in the United States being issued an 

additional 3,771,899 shares of capital stock, without any cash contribution; 

(B) a resolution to increase the authorized capital stock of the Corporation on a general 

basis by 4,579,995 shares; and 

(C) a resolution to increase the authorized capital stock of the Corporation on a selective 

basis by 919,998 shares. 

(b) Amendment of the Articles of Agreement.—The United States Governor of the Corporation is 

authorized to agree to and accept an amendment to Article II, Section 2(c)(ii) of the Articles of 

Agreement of the Corporation that would increase the vote by which the Board of Governors of 

the Corporation may increase the capital stock of the Corporation from a four-fifths majority to 

an eighty-five percent majority.”. 

International Bank for Reconstruction And Development 

SEC.7073. The Bretton Woods Agreements Act, as amended (22 U.S.C. 286 et seq.), is further 

amended by adding at the end thereof the following new section: 

“Sec. 73. Capital Stock Increases. 
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(a) Increases Authorized.—The United States Governor of the Bank is authorized— 

(1)(A) to vote in favor of a resolution to increase the capital stock of the Bank on a 

selective basis by 245,773 shares; and 

(B) to subscribe on behalf of the United States to 42,298 additional shares of the capital 

stock of the Bank, as part of the selective increase in the capital stock of the Bank, except that 

any subscription to such additional shares shall be effective only to the extent or in such amounts 

as are provided in advance in appropriations Acts; 

(2)(A) to vote in favor of a resolution to increase the capital stock of the Bank on a 

general basis by 230,500 shares; and 

(B) to subscribe on behalf of the United States to 38,662 additional shares of the capital 

stock of the Bank, as part of the general increase in the capital stock of the Bank, except that any 

subscription to such additional shares shall be effective only to the extent or in such amounts as 

are provided in advance in appropriations Acts. 

(b) Limitations on Authorization of Appropriations.— 

(1) In order to pay for the increase in the United States subscription to the Bank under 

subsection (a)(2)(B), there are authorized to be appropriated, without fiscal year limitation, 

$4,663,990,370 for payment by the Secretary of the Treasury. 

(2) Of the amount authorized to be appropriated under paragraph (1), $932,798,074 

shall be for paid in shares of the Bank, and $3,731,192,296 shall be for callable shares of the 

Bank. 

(3) In order to pay for the increase in the United States subscription to the Bank under 

subsection (a)(1)(B), there are authorized to be appropriated, without fiscal year limitation 

$5,102,619,230 for payment by the Secretary of the Treasury. 

(4) Of the amount authorized to be appropriated under paragraph (3), $306,157,153.80 

shall be for paid in shares of the Bank, and $4,796,462,076.20 shall be for callable shares of the 

Bank.” 

Debt Relief 

SEC. 7063. Of the available funds appropriated in this and prior Acts making appropriations for 

the Department of State, Foreign Operations, and Related Programs, except for funds 

designated for Overseas Contingency Operations/Global War on Terrorism pursuant to section 

251(b)(2)(A)(ii) of the Balanced Budget and Emergency Deficit Control Act of 1985, as 

amended, funds may be transferred to, and merged with, funds available under the heading 

"Department of Treasury—Debt Restructuring" in title III of prior Acts making appropriations 

for the Department of State, Foreign Operations, and Related Programs, to remain available 

until expended, for the cost, as defined in section 502 of the Congressional Budget Act of 1974, 

of modifying loans and loan guarantees, as the President may determine, or for the cost of 

selling, reducing, or cancelling amounts owed to the United States as a result of loans made to 

any country, in the event that the country meets the U.S. Government’s and internationallyagreed conditions and the transfer or merger is consistent with U.S. law and foreign policy 

considerations. 

 
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Debt Restructuring 

SEC.7071. Section 501(i) of title V of H.R. 3425 as enacted into law by section 1000(a)(5) of 

Public Law 106-113, as amended by section 699H(b)(1) of division J of Public Law 110-161, is 

further amended by striking “2000-2010” and inserting in lieu thereof “2000-2021.”