I 

112TH CONGRESS 

1ST SESSION H. R. 3188 

To maintain American leadership in multilateral development banks in order 

to support United States economic and national security by authorizing 

general capital increases for the International Bank for Reconstruction 

and Development, the Inter-American Development Bank, the African 

Development Bank, and the European Bank for Reconstruction and 

Development, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 13, 2011 

Mr. DOLD introduced the following bill; which was referred to the Committee 

on Financial Services 

A BILL 

To maintain American leadership in multilateral development 

banks in order to support United States economic and 

national security by authorizing general capital increases 

for the International Bank for Reconstruction and Development, the Inter-American Development Bank, the African Development Bank, and the European Bank for 

Reconstruction and Development, and for other purposes. 

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


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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Supporting Economic 

3 and National Security by Maintaining U.S. Leadership in 

4 Multilateral Development Banks Act’’. 

5 SEC. 2. CAPITAL STOCK INCREASE FOR THE INTER6 NATIONAL BANK FOR RECONSTRUCTION AND 

7 DEVELOPMENT. 

8 The Bretton Woods Agreements Act (22 U.S.C. 286– 

9 286tt) is amended by adding at the end the following: 

10 ‘‘SEC. 69. CAPITAL STOCK INCREASE. 

11 ‘‘(a) INCREASE AUTHORIZED.— 

12 ‘‘(1) IN GENERAL.—The United States Gov13 ernor of the Bank may— 

14 ‘‘(A) vote for an increase of 484,102 

15 shares in the authorized capital stock of the 

16 Bank; and 

17 ‘‘(B) subscribe on behalf of the United 

18 States to 81,074 additional shares of the au19 thorized capital stock of the Bank. 

20 ‘‘(2) SUBJECT TO APPROPRIATIONS.—Any sub21 scription under paragraph (1) shall be effective only 

22 to such extent or in such amounts as are provided 

23 in advance in appropriations Acts. 

24 ‘‘(b) LIMITATIONS ON AUTHORIZATION OF APPRO25 PRIATIONS.— 


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1 ‘‘(1) IN GENERAL.—For subscriptions under 

2 subsection (a), there are authorized to be appro3 priated, without fiscal year limitation, 

4 $9,780,361,991 for payment by the Secretary of the 

5 Treasury. 

6 ‘‘(2) ALLOCATION.—Of the amount authorized 

7 by paragraph (1)— 

8 ‘‘(A) $586,821,720 shall be for paid-in 

9 shares of the authorized capital stock of the 

10 Bank; and 

11 ‘‘(B) $9,193,540,271 shall be for callable 

12 shares of the authorized capital stock of the 

13 Bank’’. 

14 SEC. 3. CAPITAL STOCK INCREASE FOR THE INTER-AMER15 ICAN DEVELOPMENT BANK. 

16 The Inter-American Development Bank Act (22 

17 U.S.C. 283–283z–12) is amended by adding at the end 

18 the following: 

19 ‘‘SEC. 41. CAPITAL STOCK INCREASE. 

20 ‘‘(a) INCREASE AUTHORIZED.— 

21 ‘‘(1) IN GENERAL.—The United States Gov22 ernor of the Bank may— 

23 ‘‘(A) vote in favor of the resolution pro24 viding for an increase in the authorized capital 


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1 stock of the Bank, as approved by the Board of 

2 Governors of the Bank on July 21, 2010; and 

3 ‘‘(B) subscribe on behalf of the United 

4 States to 1,741,135 additional shares of the au5 thorized capital stock of the Bank. 

6 ‘‘(2) SUBJECT TO APPROPRIATIONS.—Any sub7 scription under paragraph (1) shall be effective only 

8 to such extent or in such amounts as are provided 

9 in advance in appropriations Acts. 

10 ‘‘(b) LIMITATIONS ON AUTHORIZATION OF APPRO11 PRIATIONS.— 

12 ‘‘(1) IN GENERAL.—For the subscription under 

13 subsection (a), there are authorized to be appro14 priated, without fiscal year limitation, 

15 $21,004,064,337 for payment by the Secretary of 

16 the Treasury. 

17 ‘‘(2) ALLOCATION.—Of the amount authorized 

18 by paragraph (1)— 

19 ‘‘(A) $510,090,175 shall be for paid-in 

20 shares of the authorized capital stock of the 

21 Bank; and 

22 ‘‘(B) $20,493,974,162 shall be for callable 

23 shares of the authorized capital stock of the 

24 Bank.’’. 


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1 SEC. 4. CAPITAL STOCK INCREASE FOR THE AFRICAN DE2 VELOPMENT BANK. 

3 The African Development Bank Act (22 U.S.C. 290i– 

4 290i–10) is amended by adding at the end the following: 

5 ‘‘SEC. 1344. CAPITAL STOCK INCREASE. 

6 ‘‘(a) SUBSCRIPTION AUTHORIZED.— 

7 ‘‘(1) IN GENERAL.—The United States Gov8 ernor of the Bank may subscribe to 289,391 addi9 tional shares of the authorized capital stock of the 

10 Bank. 

11 ‘‘(2) SUBJECT TO APPROPRIATIONS.—Any sub12 scription under paragraph (1) shall be effective only 

13 to such extent or in such amounts as are provided 

14 in advance in appropriations Acts. 

15 ‘‘(b) LIMITATIONS ON AUTHORIZATION OF APPRO16 PRIATIONS.— 

17 ‘‘(1) IN GENERAL.—For the subscription under 

18 subsection (a), there are authorized to be appro19 priated, without fiscal year limitation, 

20 $4,322,228,221 for payment by the Secretary of the 

21 Treasury. 

22 ‘‘(2) ALLOCATION.—Of the amount authorized 

23 under paragraph (1)— 

24 ‘‘(A) $259,341,759 shall be for paid-in 

25 shares of the authorized capital stock of the 

26 Bank; and 


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1 ‘‘(B) $4,062,886,462 shall be for callable 

2 shares of the authorized capital stock of the 

3 Bank.’’. 

4 SEC. 5. CAPITAL STOCK INCREASE FOR THE EUROPEAN 

5 BANK FOR RECONSTRUCTION AND DEVELOP6 MENT. 

7 The European Bank for Reconstruction and Develop8 ment Act (22 U.S.C. 290l–290l–8) is amended by adding 

9 at the end the following: 

10 ‘‘(12) CAPITAL STOCK INCREASE.— 

11 ‘‘(A) SUBSCRIPTION AUTHORIZED.— 

12 ‘‘(i) IN GENERAL.—The United States 

13 Governor of the Bank may subscribe on 

14 behalf of the United States to not more 

15 than 90,044 additional callable shares of 

16 the authorized capital stock of the Bank. 

17 ‘‘(ii) SUBJECT TO APPROPRIATIONS.— 

18 Any subscription under clause (i) shall be 

19 effective only to such extent or in such 

20 amounts as are provided in advance in ap21 propriations Acts. 

22 ‘‘(B) LIMITATIONS ON AUTHORIZATION OF

23 APPROPRIATIONS.—For the subscription under 

24 subparagraph (A), there are authorized to be 

25 appropriated, without fiscal year limitation, 


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1 $1,252,331,952 for payment by the Secretary 

2 of the Treasury for callable shares of the au3 thorized capital stock of the Bank.’’. 

4 SEC. 6. TRANSPARENCY AND ACCOUNTABILITY. 

5 Title XVI of the International Financial Institutions 

6 Act (22 U.S.C. 262–262p–12) is amended by adding at 

7 the end the following: 

8 ‘‘SEC. 1629. TRANSPARENCY AND ACCOUNTABILITY. 

9 ‘‘The Secretary of the Treasury shall instruct the 

10 United States Executive Director at the International 

11 Bank for Reconstruction and Development, the Inter12 American Development Bank, the European Bank for Re13 construction and Development, and the African Develop14 ment Bank to initiate discussions to advocate and promote 

15 efforts to— 

16 ‘‘(1) require the government of each country re17 ceiving adjustment or budget support loans to dem18 onstrate transparent budgetary processes including 

19 budget publication and public scrutiny before loan or 

20 grant approval; 

21 ‘‘(2) provide greater public disclosure of loan 

22 documents of the respective bank; and 

23 ‘‘(3) use technology to improve multilateral de24 velopment outcomes by making available to the pub25 lic data about projects carried out using financing 


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1 provided by the respective bank and about programs 

2 of the respective bank.’’. 

3 SEC. 7. CORRUPTION. 

4 Title XVI of the International Financial Institutions 

5 Act (22 U.S.C. 262–262p–12) is further amended by add6 ing at the end the following: 

7 ‘‘SEC. 1630. CORRUPTION. 

8 ‘‘The Secretary of the Treasury shall instruct the 

9 United States Executive Director at the International 

10 Bank for Reconstruction and Development, the Inter11 American Development Bank, the European Bank for Re12 construction and Development, and the African Develop13 ment Bank to initiate discussions in order to advocate and 

14 promote efforts to— 

15 ‘‘(1) implement best practices in domestic laws 

16 and international conventions against corruption for 

17 whistleblower and witness disclosures, and protec18 tions against retaliation for internal and lawful pub19 lic disclosures by the employees of the respective 

20 bank and others affected by the operations of the re21 spective bank who challenge illegality or other mis22 conduct that could threaten the mission of the re23 spective bank, including— 

24 ‘‘(A) best practices for legal burdens of 

25 proof; 


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1 ‘‘(B) access to independent adjudicative 

2 bodies; and 

3 ‘‘(C) results which eliminate the effects of 

4 proven retaliation; and 

5 ‘‘(2) implement clear anti-corruption procedures 

6 setting forth circumstance under which a person will 

7 be barred from receiving a loan, contract, grant, 

8 guarantee or credit from the respective bank, and 

9 make the procedures available to the public.’’. 

10 SEC. 8. PROCUREMENT. 

11 Title XVI of the International Financial Institutions 

12 Act (22 U.S.C. 262–262p–12) is further amended by add13 ing at the end the following: 

14 ‘‘SEC. 1631. PROCUREMENT. 

15 ‘‘The Secretary of the Treasury shall instruct the 

16 United States Executive Director at the International 

17 Bank for Reconstruction and Development, the Inter18 American Development Bank, the European Bank for Re19 construction and Development, and the African Develop20 ment Bank to advocate and promote efforts by the respec21 tive bank to maintain strong procurement standards that 

22 maintain international competitive bidding for projects 

23 funded by the respective bank, to maximize broad United 

24 States and international participation in accordance with 

25 sound procurement practices, including transparency, 


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1 broad international competition, established standards and 

2 documentation for bidding and bid evaluation, and cost3 effective results for the borrowers.’’. 

4 SEC. 9. ARGENTINA. 

5 Title XVI of the International Financial Institutions 

6 Act (22 U.S.C. 262–262p–12) is further amended by add7 ing at the end the following: 

8 ‘‘SEC. 1632. ARGENTINA. 

9 ‘‘(a) IN GENERAL.—The Secretary of the Treasury 

10 shall instruct the United States Executive Directors at the 

11 International Bank for Reconstruction and Development 

12 and the Inter-American Development Bank to— 

13 ‘‘(1) oppose any loan to the government of Ar14 gentina (other than a loan that serves basic human 

15 needs); and 

16 ‘‘(2) to initiate discussions with other executive 

17 directors at the respective bank to advocate and vig18 orously promote efforts to encourage Argentina to 

19 normalize relations with its official and private credi20 tors and elsewhere in the international community, 

21 including in its dealings with the International Cen22 tre for Settlement of Investment Disputes, the Paris 

23 Club, the Financial Action Task Force, and the 

24 International Monetary Fund, 


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1 until the Secretary determines and certifies to the Con2 gress that Argentina is normalizing its status in the inter3 national community as demonstrated by improved rela4 tions with the Financial Action Task Force, the Inter5 national Monetary Fund, and its official and private credi6 tors, including in the context of compliance with the Inter7 national Centre for Settlement of Investment Disputes. 

8 ‘‘(b) WAIVER AUTHORITY.—The President may 

9 waive the application of subsection (a)(1) if the President 

10 determines and reports to Congress that— 

11 ‘‘(1) applying subsection (a)(1) would cause se12 rious harm to the national security of the United 

13 States; or 

14 ‘‘(2) it is in the vital economic interests of the 

15 United States to do so.’’. 

Æ 


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