An Act to provide for increased participation by the United States in the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Asian Development Bank, and the Asian Development Fund, and for other purposes.
PL 95-118 (H.R.5262), enacted 10/03/1977

PUBLIC LAW 95-118—OCT. 3, 1977 
91 STAT. 1067 
Public Law 95-
95th Congress 
118 
An Act 
To provide for increased participation by tlie United States in the International 
Bank for Reconstruction and Development, the International Development 
Association, the International Finance Corporation, the Asian Development 
Bank and the Asian Development Fund, and for other purposes. 
Be it enacted hy the Senate and House of Representatives of the 
United States of America in Congress assemhled^ 
TITLE I—PURPOSE AND POLICY; DECLARATION OF 
CONGRESSIONAL INTENT IN RESPECT TO CONTINUED 
PARTICIPATION OF THE UNITED STATES GOVERN-
MENT IN INTERNATIONAL FINANCIAL INSTITUTIONS 
FOSTERING 
ECONOMIC 
DEVELOPMENT 
IN 
LESS 
DEVELOPED COUNTRIES 
SEC. 101. (a) It is the sense of the Congress that— 
(1) for humanitarian, economic, and political reasons, it is in 
the national interest of the United States to assist in fostering 
economic development in the less developed countries of this 
world; 
(2) the development-oriented international financial institu-
tions have proved themselves capable of playing a significant role 
in assisting economic development by providing to less developed 
countries access to capital and technical assistance and soliciting 
from them maximum self-help and mutual cooperation; 
(3) this has been achieved with minimal risk of financial loss 
to contributing countries; 
(4) such institutions have proved to be an effective mechanism 
for sharing the burden among developed countries of stimulating 
economic development in the less developed world; and 
(5) although continued United States participation in the 
international financial institutions is an important part of efforts 
by the United States to assist less developed countries, more of 
this burden should be shared by other developed countries. As a 
step in that direction, in future negotiations, the United States 
should work toward aggregate contributions to future replenish-
ments to international financial institutions covered by this Act 
not to exceed 25 per centum. 
(b) The Congress recognizes that economic development is a long-
term process needing funding commitments to international financial 
institutions. It also notes that the availability of funds for the United 
States contribution to international financial institutions is subject to 
the appropriations process. 
TITLE II—INTERNATIONAL BANK FOR RECONSTRUC-
TION AND DEVELOPMENT 
SEC. 201. The Bretton Woods Agreements Act (22 U.S.C. 286 et 
seq.) is further amended by adding at the end thereof the following 
new section: 
Oct. 3, 1977 
[H.R. 5262] 
International 
financial 
institutions. 
U.S. 
participation, 
increase. 
22 u s e 262c. 
Capital stock 
increase, 
authorization. 
91 STAT. 1068 
PUBLIC LAW 95-118—OCT. 3, 1977 
22 u s e 286e-lf. 
Appropriation 
authorization. 
"SEC. 27. (a) The United States Governor of the Bank is 
authorized— 
"(1) to vote for an increase of seventy thousand shares in the 
authorized capital stock of the Bank; and 
"(2) if such increase becomes effective, to subscribe on behalf 
of the United States to thirteen thousand and five additional 
shares of the capital stock of the Bank: Provided^ however^ That 
any subscription to additional shares shall be made only after the 
amount required for such subscription has been appropriated. 
"(b) In order to pay for the increase in the United States subscrip-
tion to the Bank provided for in this section, there are hereby author-
ized to be appropriated, without fiscal year limitation, $1,568,856,-318 
for payment by the Secretary of the Treasury.". 
Capital stock 
increase, 
authorization. 
22 u s e 282i. 
Appropriation 
authorization. 
TITLE III—INTERNATIONAL FINANCE CORPORATION 
SEC. 301. The International Finance Corporation Act (22 U.S.C. 
282 et seq.) is further amended by adding at the end thereof the 
following new section: 
"SEC. 11. (a) The United States Governor of the Corporation is 
authorized— 
" (1) to vote for an increase of five hundred and forty thousand 
shares in the authorized capital stock of the Corporation; and 
"(2) if such increase becomes effective, to subscribe on behalf of 
the United States to one hundred and eleven thousand four hun-
dred and ninety-three additional shares of the capital stock of the 
Corporation: Provided^ however^ That any commitment to make 
payment for such additional subscriptions shall be made subject 
to obtaining the necessary appropriations. 
"(b) \n order to pay for the increase in the United States sub-
scription to the Corporation provided for in this section, there are 
hereby authorized to be appropriated, without fiscal year limitation, 
$111,493,000 for payment by the Secretary of the Treasury.". 
Replenishment 
payment, 
authorization. 
22 u s e 284n. 
Appropriation 
authorization. 
Additional capital 
stock, 
subscription 
authorization. 
TITLE IV—INTERNATIONAL DEVELOPMENT 
ASSOCIATION 
SEC. 401. The International Development Association Act, as 
amended (22 U.S.C. 284 et seq.), is further amended by adding at 
the end thereof the following new section: 
"SEC. 16. (a) The United States Governor is hereby authorized to 
agree on behalf of the United States to pay to the Association 
$2,400,000,000 as the United States contribution to the fifth replenish-
ment of the Resources of the Association: Provided^ however, That 
any conunitment to make such contributions shall be made subject to 
obtaining the necessary appropriations. 
"(b) In order to pay for the United States contribution provided 
for in this section, there are hereby authorized to be appropriated, 
without fiscal year limitation, $2,400,000,000 for payment by the 
Secretary of the Treasury.". 
TITLE 
V—ASIAN 
DEVELOPMENT 
BANK 
AND 
ASIAN 
DEVELOPMENT FUND 
SEC. 501. The Asian Development Bank Act, as amended (22 U.S.C. 
285-285r), is further amended by adding at the end thereof the 
followinof new sections: 
PUBLIC LAW 95-118—OCT. 3, 1977 
91 STAT. 1069 
"SEC. 22. (a) The United States Governor of the Bank is authorized 
to subscribe on behalf of the United States to sixty-seven thousand 
and five hundred additional shares of the capital stock of the Bank: 
Provided, 
however, That any subscription to additional shares shall 
be made only after the amount required for such subscription has 
been appropriated. 
"(b) In order to pay for the increase in the United States sub-
scription to the Bank provided for in this section, there are hereby 
authorized 
to be appropriated 
without 
fiscal 
year 
limitation 
$814,286,250 for payment by the Secretary of the Treasury. 
"SEC. 23. (a) The United States Governor of the Bank is hereby 
authorized to contribute on behalf of the United States $180,000,000 
to the Asian Development Fund, a special fund of the Bank: Pro-
vided, 
however, 
That any commitment to make such contribution 
shall be made subject to obtaining the necessary appropriations. 
"(b) In order to pay for the United States contribution to the Asian 
Development Fund provided for in this section, there are hereby 
authorized 
to be appropriated 
without 
fiscal 
year 
limitation 
$180,000,000 for payment by the Secretary of the Treasury.". 
T I T L E V I — A F R I C A N D E V E L O P M E N T F U N D 
SEC. 
601. The African 
Development 
Fund Act (22 U.S.C. 
290g-4(a)) is amended by adding the following new section: 
"SEC. 212. (a) The United States Governor is hereby authorized to 
contribute on behalf of the United States $50,000,000 to the African 
Development Fund, which would represent an additional United 
States contribution to the first replenishment. The Secretary of the 
Treasury is directed to begin discussions with other donor nations to 
the African Development Fund for the purpose of setting amounts 
and of reviewing and possibly changing the voting structure within 
the Fund: Provided, 
however, That any commitment to make such 
contribution 
shall be made subject to obtaining the necessary 
appropriations. 
(b) In order to pay for the United States contribution to the 
African Development Fund provided for in this section there are 
authorized 
to be appropriated 
without 
fiscal 
year 
limitation 
$50,000,000 for payment by the Secretary of the Treasury.". 
22 use 285s. 
Appropriation 
authorization. 
Contribution 
authorization. 
22 use 285t. 
Appropriation 
authorization. 
eontribution 
authorization. 
22 use 
290g-10. 
Appropriation 
authorization. 
TITLE VII—HUMAN RIGHTS 
SEC. 701. (a) The United States Government, in connection with 
its voice and vote in the International Bank for Reconstruction and 
Development, the International Development Association, the Inter-
national Finance Corporation, the Inter-American Development 
Bank, the African Development Fund, and the Asian Development 
Bank, shall advance the cause of human rights, including by seeking 
to channel assistance toward countries other than those whose govern-
ments engage in— 
(1) a consistent pattern of gross violations of internationally 
recognized human rights, such as torture or cruel, inhumane, 
or degrading treatment or punishment, prolonged detention 
without charges, or other flagrant denial to life, liberty, and the 
security of person; or 
(2) provide refuge to individuals committing acts of interna-
tional terrorism by hijacking aircraft. 
Assistance 
policies. 
22 use 262d. 
91 STAT. 1070 
PUBLIC LAW 95-118—OCT. 3, 1977 
Executive 
Directors, policy 
considerations. 
Annual reports to 
Speaker of the 
House and 
President of the 
Senate. 
Financial or 
technical 
assistance, 
prohibition. 
Repeals. 
Standard for 
human needs and 
protection of 
human rights, 
development. 
22 u s e 262c 
note. 
(b) Further, the Secretary of the Treasury shall instruct each 
Executive Director of the above institutions to consider in carrying 
out his duties: 
(1) specific actions by either the executive branch or the Con-
gress as a whole on individual bilateral assistance programs 
because of human rights considerations; 
(2) the extent to which the economic assistance provided by 
the above institutions directly benefit the needy people in the 
recipient country; 
(3) whether the recipient country has detonated a nuclear 
device or is not a State Party to the Treaty on Nonproliferation 
of Nuclear Weapons or both; and 
(4) in relation to assistance for the Socialist Eepublic of Viet-
nam, the People's Democratic Republic of Laos, and Democratic 
Kampuchea (Cambodia), the responsiveness of the governments 
of such countries in providing a more substantial accounting of 
Americans missing in action. 
(c) The Secretaries of State and Treasury shall report annually to 
the Speaker of the House of Representatives and the President of the 
Senate on the progress toward achieving the goals of this title, includ-
ing the listing required in subsection (d). 
(d) The United States Government, in connection with its voice and 
vote in the institutions listed in subsection (a), shall seek to channel 
assistance to projects which address basic human needs of the people of 
the recipient country. The annual report required under subsection (c) 
shall include a listing of categories of such assistance granted, with 
particular attention to categories that address basic human needs. 
(e) In determining whether a country is in gross violation of 
internationally recognized human rights standards, as defined by the 
provisions of subsection (a), the United States Government shall give 
consideration to the extent of cooperation of such country in permitting 
an unimpeded investigation of alleged violations of internationally 
recognized human rights by appropriate international organizations 
including, but not limited to, the International Committee of the Red 
Cross, Amnesty International, the International Commission of 
Jurists, and groups or persons acting under the authority of the 
United Nations or the Organization of American States. 
(f) The United States Executive Directors of the institutions listed 
in subsection (a) are authorized and instructed to oppose any loan, 
any extension of financial assistance, or any technical assistance to 
any country described in subsection (a) (1) or (2), unless such assist-
ance is directed specifically to programs which serve the basic human 
needs of the citizens of such country. 
SEC. 702. Section 28 of the Inter-American Development Bank Act, 
as amended (22 U.S.C. 283y), section 211 of the Act of May 31, 1976 
(22 U.S.C. 290g-9), and section 15 of the International Development 
Association Act, as amended (22 U.S.C. 284m), are repealed. 
SEC. 703. (a) The Secretary of State and the Secretary of the 
Treasury shall initiate a wide consultation designed to develop a viable 
standard for the meeting of basic human needs and the protection of 
human rights and a mechanism for acting together to insure that the 
rewards of international economic cooperation are especially avail-
able to those who subscribe to such standards and are seen to be moving 
PUBLIC LAW 95-118—OCT. 3, 1977 
91 STAT. 1071 
toward making them effective in their own systems of governance. 
(b) Not later than one year after the date of enactment of this Act, 
the Secretary of State and the Secretary of the Treasury shall report 
to the President of the Senate and the Speaker of the House of Repre-
sentatives on the progress made in carrying out this section. 
SEC. 704. The President shall direct the United States Executive 
Directors of such international financial institutions to take all appro-
priate actions to keep the salaries and benefits of the employees of 
such institutions to levels comparable to salaries and benefits of 
employees of private business and the United States Government in 
comparable positions. 
Report to 
President of the 
Senate and 
Speaker of the 
House. 
Salaries and 
benefits, 
comparabihty to 
U.S. 
22 u s e 262e. 
TITLE VIII—LIGHT CAPITAL TECHNOLOGY 
Development and 
utilization. 
22 u s e 262f. 
SEC. 801. (a) The United States Government, in connection with 
its voice and vote in the International Bank for Reconstruction and 
Development, the International Development Association, the Inter-
national Finance Corporation, the Inter-American Development 
Bank, the African Development Fund, and the Asian Development 
Bank, shall promote the development and utilization of light capital 
( 
technologies, otherwise known as intermediate, appropriate, or village 
technologies, by such international institutions as major facets of their 
development strategies, with major emphasis on the production and 
conservation of energy through light capital technologies. 
(b) The Secretary of the Treasury shall report to the Congress Report to 
not later than six months after the date of enactment of this section Congress, 
and annually thereafter on the progress toward achieving the goals 
of this title. Each report shall include a separate and comprehensive Contents, 
discussion, with examples of specific projects and policies, of each 
institution's activity in light capital technologies and of United States 
efforts to carry out subsection (a) with respect to each institution. 
TITLE IX—HITMAN NUTRITION IN DEVELOPING 
COUNTRIES 
SEC. 901. (a) The Congress declares it to be the policy of the United 
States, in connection with its voice and vote in the International 
Bank for Reconstruction and Development, the International Devel-
opment Association, the International Finance Corporation, the Inter-
American Development Bank, the African Development Fund, the 
Asian Development Fund, and the Asian Development Bank, to com-
bat hunger and malnutrition and to encourage economic development 
in the developing countries, with emphasis on assistance to those 
countries that are determined to improve their own agricultural pro-
duction, by seeking to channel assistance for agriculturally related 
development to projects that would aid in fulfilling domestic food 
and nutrition needs and in alleviating hunger and malnutrition in the 
recipient country. The United States representatives to the institutions 
named in this section shall oppose any loan or other financial assist-
ance for establishing or expanding production for export of palm oil, 
sugar, or citrus crops if such loan or assistance will cause injury to 
United States producers of the same, similar, or competing agricul-
tural commodity. 
(b) The Secretaries of State and Treasury shall report annually to 
the Speaker of the House of Representatives and the President of the 
Senate on the progress towards achieving the goals of this title. 
Assistance 
policies. 
22 u s e 262g. 
Palm oil, sugar 
and citrus crops, 
U.S. producers, 
protection. 
Annual report to 
Speaker of the 
House and 
President of the 
Senate. 
29-194 
0 - 8 0 - 7 0 
91 STAT. 1072 
PUBLIC LAW 95-118—OCT. 3, 1977 
TITLE X—EFFECTIVE DATE 
22 use 282i 
SEC. 1001. This Act shall take effect on the date of its enactment, 
oo*®- 
except that no funds authorized to be appropriated by any amendment 
contained in title II, III, IV, V, or VI may be available for use or 
obligation prior to October 1,1977. 
Approved October 3, 1977. 
•. 
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i': . 
•I 
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LEGISLATIVE HISTORY: 
HOUSE REPORTS: No. 95-154 (Comm. on Banking, Finance and Urban Affairs) and 
No. 95-544 (Comm. of Conference). 
SENATE REPORTS: No. 95-159 (Comm. on Foreign Relations) and No. 95-363 
(Comm. of Conference). 
CONGRESSIONAL RECORD, VoL 123 (1977): 
, -
Apr. 6, considered and passed House. 
June 14, considered and passed Senate, amended. 
July 27, Senate agreed to conference report. 
^^'-'- 
Sept. 16, House disagreed to conference report, receded and concurred in Senate 
amendment with an amendment. 
* 
Sept. 21, Senate concurred in House amendment.