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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 Appropriations.--In order to
pay for the United States contribution provided for in subsection (a),
there are authorized 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 authorized 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 contribution 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 Treasury.''.

SEC. 4. EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT.

The European Bank for Reconstruction and Development 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 increase.--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 additional 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 provided in subparagraph
(B), there are hereby authorized 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 CONTRIBUTION 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 ADJUSTMENT 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 ACCOUNT OF THE
SUCCESSOR TO THE ENHANCED STRUCTURAL ADJUSTMENT FACILITY
OF THE INTERNATIONAL MONETARY FUND.

''(a) Contribution Authorized.--
''(1) In general.--Subject to paragraph (2), the United
States Governor of the Fund may contribute $75,000,000 to the
Interest Subsidy Account of the successor to the Enhanced
Structural Adjustment Facility of the Fund on behalf of the
United States.
''(2) Condition.--The contribution authorized in paragraph
(1) shall be effective only to such extent or in such amounts
as are provided in advance in appropriations Acts.
''(b) Limitation on Authorization of Appropriations.--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 January 27, 1997'';
and
(B) by striking ''4,250,000,000'' and inserting
''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 January 27,
1997,'' after ''February 24, 1983,''; and
(B) by inserting ''or the New Arrangements to
Borrow, as applicable'' before the period at the end.
Output:
International Financial Institution Reform and Authorization Act of 1997 - Amends the International Development Association Act to authorize appropriations, without fiscal year limitation, for the U.S. contribution to the 11th replenishment of the resources of the International Development Association.
Amends the Asian Development Bank Act to authorize the U.S. Governor of the Asian Development Bank to contribute on behalf of the United States a specified amount to the Asian Development Fund. Authorizes appropriations.
Amends the European Bank for Reconstruction and Development Act to authorize the U.S. Governor of the European Bank for Reconstruction and Development to subscribe on behalf of the United States to specified additional shares of the Bank's capital stock. Authorizes appropriations without fiscal year limitation.
Amends the Inter-American Development Bank Act to authorize appropriations, without fiscal year limitation, for the U.S. capital subscription to the eighth general increase in the authorized capital stock of the Inter-American Development Bank.
Amends the Bretton Woods Agreements Act to authorize the U.S. Governor of the International Monetary Fund (IMF) to contribute on behalf of the United States a specified amount to the Interest Subsidy Account of the successor to the Enhanced Structural Adjustment Facility of the IMF. Authorizes appropriations without fiscal year limitation.
Increases: (1) the amount of loans (equivalent to Special Drawing Rights) the Secretary of the Treasury is authorized to make to the IMF; and (2) the authorization of appropriations for such loans.