§ 283z-5. — Capital increase; increase in resources of Fund for Special Operations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC283z-5]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XII--INTER-AMERICAN DEVELOPMENT BANK
Sec. 283z-5. Capital increase; increase in resources of Fund for
Special Operations
(a) Authority to vote for, and to subscribe and contribute to, increase
in authorized capital stock of Bank and increase in resources of
Fund for Special Operations
(1) Vote authorized
The United States Governor of the Bank is authorized to vote for
resolutions which--
(A) were transmitted by the Board of Executive Directors to
the Governors of the Bank by resolution of April 19, 1989;
(B) are pending before the Board of Governors of the Bank;
and
(C) provide for--
(i) an increase in the authorized capital stock of the
Bank and subscriptions to the Bank; and
(ii) an increase in the resources of the Fund for
Special Operations and contributions to the Fund.
(2) Subscription and contribution authority
To the extent and in the amounts provided in advance in
appropriations Acts, on adoption of the resolutions described in
paragraph (1), the United States Governor of the Bank may, on behalf
of the United States--
(A) subscribe to 760,112 shares of the increase in the
authorized capital stock of the Bank; and
(B) contribute $82,304,000 to the Fund for Special
Operations.
(b) Limitation on authorization of appropriations
To pay for the subscription and contribution authorized under
subsection (a) of this section, there are authorized to be appropriated,
without fiscal year limitation, for payment by the Secretary of the
Treasury--
(1) $9,169,559,712, for the United States subscription to the
capital stock of the Bank; and
(2) $82,304,000, for the United States contribution to the Fund
for Special Operations.
(c) Organizational changes required to be made before payment for
subscription to capital stock and contribution to Fund for
Special Operations
The Secretary of the Treasury may not make any payment for the
subscription and contribution authorized under subsection (a) of this
section unless the Bank--
(1) has established an environmental unit with responsibility
for the development, evaluation, and integration of Bank policies,
projects, and programs designed to promote environmentally
sustainable development in borrower countries;
(2) has increased the number of the staff of the Bank with
environmentally oriented responsibilities and training;
(3) provides for an increase in the number of environmentally
beneficial projects and programs financed by the Bank; and
(4) has designed a process for ensuring the access of indigenous
non-governmental organizations to the process for designing projects
and programs.
(d) Certification of access to Bank records required before payment for
subscription to capital stock and contribution to Fund for
Special Operations
The Secretary of the Treasury shall not make any payment for the
subscription and contribution authorized under subsection (a) of this
section until the Secretary, after consultation with the United States
Executive Director of the Bank, certifies to the Congress that--
(1) the Bank has given the Comptroller General of the United
States access to the audit memorandum issued by the Auditor General
of the Bank with respect to the November 1987 disbursement of funds
to the Government of Nicaragua;
(2) the Bank has implemented and is continuing to implement
revised procedures issued in 1988 for collecting loan services
payments in arrears;
(3) the revised procedures referred to in paragraph (2) satisfy
the recommendations of the Auditor General of the Bank; and
(4) the Comptroller General of the United States has access to
all documents of the Bank on the same terms and under the same
conditions as such documents are made available to the United States
Executive Director of the Bank.
(Pub. L. 86-147, Sec. 33, as added Pub. L. 101-240, title II, Sec. 201,
Dec. 19, 1989, 103 Stat. 2496.)
Section Referred to in Other Sections
This section is referred to in section 283z-7 of this title.
