I
105TH CONGRESS
1ST SESSION
H. R. 1488
To authorize United States participation in various international financial
institutions.
IN THE HOUSE OF REPRESENTATIVES
APRIL 30, 1997
Mr. CASTLE (for himself, Mr. FLAKE, Mr. LEACH, and Mr. GONZALEZ) (all
by request), introduced the following bill; which was referred to the Com-
mittee on Banking and Financial Services
A BILL
To authorize United States participation in various
international financial institutions.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘International Financial
Institution Reform and Authorization Act of 1997’’.
SEC. 2. INTERNATIONAL DEVELOPMENT ASSOCIATION.
The International Development Association Act (22
U.S.C. 284 et seq.) is amended by adding at the end the
following:
‘‘SEC. 22. ELEVENTH REPLENISHMENT.
‘‘(a) IN GENERAL.—The United States Governor is
hereby authorized to agree on behalf of the United States
to pay to the Association $1,600,000,000 for the eleventh
replenishment of the resources of the Association, subject
to obtaining the necessary appropriations.
‘‘(b) LIMITATIONS ON AUTHORIZATION OF APPRO-
PRIATIONS.—In order to pay for the United States con-
tribution provided for in subsection (a), there are author-
ized to be appropriated, without fiscal year limitation,
$1,600,000,000 for payment by the Secretary of the
Treasury.’’.
SEC. 3. ASIAN DEVELOPMENT BANK.
The Asian Development Bank Act (22 U.S.C. 285 et
seq.) is amended by adding at the end the following:
‘‘SEC. 31. ADDITIONAL CONTRIBUTION TO SPECIAL FUNDS;
AUTHORIZATION OF APPROPRIATIONS.
‘‘(a) The United States Governor of the Bank is au-
thorized to contribute on behalf of the United States
$400,000,000 to the Asian Development Fund, a special
fund of the Bank; except that any commitment to make
such contributions shall be made subject to obtaining the
necessary appropriations.
‘‘(b) In order to pay for the United States contribu-
tion provided for in subsection (a), there are authorized
to be appropriated, without fiscal year limitation,
$400,000,000 for payment by the Secretary of the Treas-
ury.’’.
SEC. 4. EUROPEAN BANK FOR RECONSTRUCTION AND DE-
VELOPMENT.
The European Bank for Reconstruction and Develop-
ment Act, section 562(c) of Public Law 101–513 (22
U.S.C. 209l et seq.), is amended by adding at the end
the following:
‘‘(12) PARTICIPATION IN A GENERAL CAPITAL
INCREASE.—
‘‘(A) PARTICIPATION
IN
A
CAPITAL
IN-
CREASE.—The United States participation in a
general capital increase of the Bank under
Chapter II, Article 4(3) of the Agreement, is
hereby authorized.
‘‘(B) INCREASE IN THE UNITED STATES
CAPITAL
SUBSCRIPTION.—The United States
Governor of the Bank is authorized to subscribe
on behalf of the United States to 100,000 addi-
tional shares of the capital stock of the Bank
as part of a general capital increase, subject to
obtaining the necessary appropriations.
‘‘(C) LIMITATION ON AUTHORIZATION OF
APPROPRIATIONS.—To pay for the increase in
the United States capital subscription as pro-
vided in subparagraph (B), there are hereby au-
thorized to be appropriated, without fiscal year
limitation, $1,270,100,000 for payment by the
Secretary of the Treasury.’’.
SEC. 5. INTER-AMERICAN DEVELOPMENT BANK.
The Inter-American Development Bank Act (22
U.S.C. 283 et seq.) is amended by adding at the end the
following:
‘‘SEC. 39. CAPITAL INCREASE; SUBSCRIPTION AND CON-
TRIBUTION AUTHORITY.
‘‘For payment by the Secretary of the Treasury for
the United States capital subscription as part of the
eighth general increase in the authorized capital stock of
the Bank, there are authorized to be appropriated, without
fiscal year limitation—
‘‘(1) $76,832,001, for payment for paid-in
shares of the Bank; and
‘‘(2) $4,511,156,729, for payment for callable
shares of the Bank.’’.
SEC. 6. INTEREST SUBSIDY ACCOUNT OF THE SUCCESSOR
TO THE ENHANCED STRUCTURAL ADJUST-
MENT FACILITY OF THE INTERNATIONAL
MONETARY FUND.
The Bretton Woods Agreements Act (22 U.S.C. 286
et seq.) is amended by adding at the end the following:
‘‘SEC. 61. CONTRIBUTION TO THE INTEREST SUBSIDY AC-
COUNT OF THE SUCCESSOR TO THE EN-
HANCED STRUCTURAL ADJUSTMENT FACIL-
ITY OF THE INTERNATIONAL MONETARY
FUND.
‘‘(a) CONTRIBUTION AUTHORIZED.—
‘‘(1) IN GENERAL.—Subject to paragraph (2),
the United States Governor of the Fund may con-
tribute $75,000,000 to the Interest Subsidy Account
of the successor to the Enhanced Structural Adjust-
ment Facility of the Fund on behalf of the United
States.
‘‘(2) CONDITION.—The contribution authorized
in paragraph (1) shall be effective only to such ex-
tent or in such amounts as are provided in advance
in appropriations Acts.
‘‘(b) LIMITATION
ON AUTHORIZATION
OF APPRO-
PRIATIONS.—To pay for the contribution authorized in
subsection (a), there are authorized to be appropriated not
to exceed $75,000,000, without fiscal year limitation, for
payment by the Secretary of the Treasury.’’.
SEC. 7. NEW ARRANGEMENTS TO BORROW FROM THE
INTERNATIONAL MONETARY FUND.
Section 17 of the Bretton Woods Agreements Act (22
U.S.C. 286e–2 et seq.) is amended—
(1) in subsection (a)—
(A) by striking ‘‘and February 24, 1983’’
and inserting ‘‘February 24, 1983, and Janu-
ary 27, 1997’’; and
(B) by striking ‘‘4,250,000,000’’ and in-
serting ‘‘6,712,000,000’’;
(2) 
in 
subsection 
(b), 
by 
striking
‘‘4,250,000,000’’ and inserting ‘‘6,712,000,000’’;
and
(3) in subsection (d)—
(A) by inserting ‘‘or the Decision of Janu-
ary 27, 1997,’’ after ‘‘February 24, 1983,’’;
and
(B) by inserting ‘‘or the New Arrange-
ments to Borrow, as applicable’’ before the pe-
riod at the end.
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