Calendar No. 137

105TH CONGRESS

1ST SESSION S. 1082

A BILL

To authorize appropriations to pay for United

nancial institutions.States contributions to certain international fiJULY 30, 1997

Reported without amendment
II

Calendar No. 137

105TH CONGRESS

1ST SESSION S. 1082

To authorize appropriations to pay for United States contributions to certain

international financial institutions.

IN THE SENATE OF THE UNITED STATES

JULY 29, 1997

Mr. BIDEN (for himself and Mr. HAGEL) introduced the following bill; which

was read twice and referred to the Committee on Foreign Relations

JULY 30, 1997

Reported by Mr. HELMS, without amendment

A BILL

To authorize appropriations to pay for United States

contributions to certain international financial institutions.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. INTER-AMERICAN DEVELOPMENT BANK.

4 The Inter-American Development Bank Act (Public

5 Law 86–147; 22 U.S.C. 283 et seq.) is amended by adding

6 at the end the following new section:
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1 ‘‘SEC. 39. CAPITAL INCREASE; SUBSCRIPTION AND

2 CONTRIBUTION AUTHORITY.

3 ‘‘For payment by the Secretary of the Treasury for

4 the United States capital subscription as part of the 8th

5 general increase in the authorized capital stock of the

6 Bank, there are authorized to be appropriated, without fis7 cal year limitation—

8 ‘‘(1) $51,221,334, for payment for paid-in

9 shares of the Bank; and

10 ‘‘(2) $3,007,437,820, for payment for callable

11 shares of the Bank.’’.

12 SEC. 2. ASIAN DEVELOPMENT BANK.

13 The Asian Development Bank Act (Public Law 89–

14 369; 22 U.S.C. 285 et seq.) is amended by adding at the

15 end the following new section:

16 ‘‘SEC. 31. ADDITIONAL CONTRIBUTION TO SPECIAL FUNDS;

17 AUTHORIZATION OF APPROPRIATIONS.

18 ‘‘(a) AUTHORIZATION OF CONTRIBUTION.—The

19 United States Governor of the Bank is authorized to con20 tribute on behalf of the United States $400,000,000 to

21 the Asian Development Fund, a special fund of the Bank;

22 except that any commitment to make such contributions

23 shall be made subject to obtaining the necessary

24 appropriations.

25 ‘‘(b) AUTHORIZATION OF APPROPRIATIONS.—In

26 order to pay for the United States contribution provided
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1 for in subsection (a), there are authorized to be appro2 priated, without fiscal year limitation, $200,000,000 for

3 payment by the Secretary of the Treasury.’’.

4 SEC. 3. EUROPEAN BANK FOR RECONSTRUCTION AND DE5 VELOPMENT.

6 Section 562(c) of the European Bank for Reconstruc7 tion and Development Act (section 562(c) of Public Law

8 101–513; 22 U.S.C. 290l et seq.) is amended by adding

9 at the end the following new paragraph:

10 ‘‘(12) PARTICIPATION IN A GENERAL CAPITAL

11 INCREASE.—

12 ‘‘(A) PARTICIPATION IN A CAPITAL IN13 CREASE.—The United States participation in a

14 general capital increase of the Bank under

15 Chapter II, Article 4(3) of the Agreement, is

16 authorized.

17 ‘‘(B) INCREASE IN THE UNITED STATES

18 CAPITAL SUBSCRIPTION.—The United States

19 Governor of the Bank is authorized to subscribe

20 on behalf of the United States to 100,000 addi21 tional shares of the capital stock of the Bank

22 as part of a general capital increase, subject to

23 obtaining the necessary appropriations.

24 ‘‘(C) LIMITATION ON AUTHORIZATION OF

25 APPROPRIATIONS.—To pay for the increase in
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1 the United States capital subscription, as pro2 vided in paragraph (12)(B), there are author3 ized to be appropriated, without fiscal year limi4 tation, $317,525,000 for payment by the Sec5 retary of the Treasury.’’.

6 SEC. 4. INTERNATIONAL DEVELOPMENT ASSOCIATION.

7 The International Development Association Act

8 (Public Law 86–565; 22 U.S.C. 284 et seq.) is amended

9 by adding at the end the following new section:

10 ‘‘SEC. 22. ELEVENTH REPLENISHMENT.

11 ‘‘(a) IN GENERAL.—The United States Governor is

12 authorized to agree on behalf of the United States to pay

13 to the Association $1,600,000,000 for the 11th replenish14 ment of the resources of the Association, subject to obtain15 ing the necessary appropriations.

16 ‘‘(b) LIMITATIONS ON AUTHORIZATION OF APPRO17 PRIATIONS.—In order to pay for the United States con18 tribution provided for in subsection (a), there are author19 ized to be appropriated, without fiscal year limitation,

20 $1,600,000,000 for payment by the Secretary of the

21 Treasury.’’.

22 SEC. 5. INTERNATIONAL MONETARY FUND.

23 Section 17 of the Bretton Woods Agreements Act (as

24 added by Public Law 87–490; 22 U.S.C. 286e–2 et seq.)

25 is amended—
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1 (1) in subsection (a)—

2 (A) by striking ‘‘and February 24, 1983’’

3 and inserting ‘‘February 24, 1983, and Janu4 ary 27, 1997’’; and

5 (B) by striking ‘‘4,250,000,000’’ and in6 serting ‘‘6,712,000,000’’;

7 (2) in subsection (b), by striking

8 ‘‘4,250,000,000’’ and inserting ‘‘6,712,000,000’’;

9 and

10 (3) in subsection (d)—

11 (A) by inserting ‘‘or the Decision of Janu12 ary 27, 1997,’’ after ‘‘February 24, 1983,’’;

13 and

14 (B) by inserting ‘‘or the New Arrange15 ments to Borrow, as the case may be’’ before

16 the period at the end.