§ 262f. Promotion of development and utilization of light capital technologies and United States assistance policies with international financial institutions

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1977

   Pub. L. 95–118 title VIII § 801 · 91 Stat. 1067

   Enacted · 22 U.S.C. § 262f

   Pub. L. 95–118, title VIII, § 801, Oct. 3, 1977, 91 Stat. 1071

   Source evidence

   Code source credit
   Pub. L. 95–118, title VIII, § 801, Oct. 3, 1977, 91 Stat. 1071

   Enacted provision · exact public law section
   Sec. 801. (a) The United States Government, in connection with Development and utilization. 22 USC 262f. its voice and vote in the International Bank for Reconstruction and Development, the International Development Association, the International 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 Congress. not later than six months after the date of enactment of this section 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.

2. 1981

   Pub. L. 97–35 title XIII · 95 Stat. 357

   1. Redesignated · 22 U.S.C. § 262f

      Pub. L. 97–35 redesignated subsec. (a) as entire section

   2. Inserted · 22 U.S.C. § 262f

      Pub. L. 97–35 inserted reference to African Development Bank

   3. Struck · 22 U.S.C. § 262f

      Pub. L. 97–35 struck out subsec. (b) which related to an annual report to Congress on progress toward achieving goals of this section

   Source evidence

   Code amendment note
   Pub. L. 97–35 redesignated subsec. (a) as entire section, inserted reference to African Development Bank, and struck out subsec. (b) which related to an annual report to Congress on progress toward achieving goals of this section.

   Enacted provision · exact public law
   TITLE XIII— INTERNATIONAL AFFAIRS Subtitle A— Public Law 480 Sec. 1301. appropriation limits Notwithstanding any other provision of law, programs 7 USC 1733 note. shall not be undertaken under title I (including title III) and title II of the Agricultural Trade Development and Assistance Act of 1954 7 USC 1701, 1721, 1427. during any calendar year which call for an appropriation of more than $1,304,836,000 for the fiscal year 1982, $1,320,292,000 for the fiscal year 1983, and $1,402,278,000 for the fiscal year 1984. Subtitle B— International Development Banks PART 1— INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Sec. 1311. increase in subscription of stock The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended by adding at the end thereof the following new section: “Sec. 39. (a) The United States Governor of the Bank is authorized— “(1) to vote to increase by three hundred and sixty-five thousand shares the authorized capital stock of the Bank; and “(2) to subscribe on behalf of the United States to not more than seventy-three thousand and ten shares of the capital stock of the Bank: Provided, however, That not more than seven and one-half percent ($658,305,195) of the price of the shares subscribed may be paid in to the Bank on subscription, with the remainder of that price ($8,149,256,155) being subject to call only when a call on unpaid subscriptions is required to meet obligations of the Bank for funds borrowed or on loans guaranteed by it and not for use by the Bank in its lending activities or for administrative expenses: Provided further, That any subscription to such additional shares shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. “(b) In Order to pay for the paid-in portion of the United States subscription to the Bank provided for in this section, there is authorized to be appropriated, without fiscal year limitation, $658,305,195 for payment by the Secretary of the Treasury: Provided, however, That not more than $109,720,549 of such sum may be made available for each of the fiscal years 1982, 1983, and 1984.”. Sec. 1312. future subscriptions of stock Section 27(a)(2) of the Bretton Woods Agreements Act (22 U.S.C. 286e–1f(a)(2)) is amended by striking out “That any subscription to additional shares shall be made only after the amount required for such subscription has been appropriated” and inserting in lieu thereof “That any subscription to additional shares shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts”. PART 2— INTERNATIONAL DEVELOPMENT ASSOCIATION Sec. 1321. sixth replenishment The International Development Association Act (22 U.S.C. 284 et seq.) is amended by adding at the end thereof the following new section: “Sec. 17. (a) The United States Governor is authorized to agree on behalf of the United States to pay to the Association $3,240,000,000 as the United States contribution to the sixth replenishment of the resources of the Association: Provided, however, 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 contributions provided for Appropriation authorization. in this section, there is authorized to be appropriated, without fiscal year limitation, $3,240,000,000 for payment by the Secretary of the Treasury: Provided, however, That not more than $850,000,000 of such sum may be made available for the fiscal year 1982 and not more than $945,000,000 of such sum may be made available for the fiscal year 1983.”. PART 3— AFRICAN DEVELOPMENT BANK Sec. 1331. short title This part may be cited as the “African Development 22 USC 290i note. Bank Act”. Sec. 1332. acceptance of membership The President is hereby authorized to accept membership 22 USC 290i. for the United States in the African Development Bank (hereinafter in this part referred to as the “Bank”) provided for by the agreement establishing the Bank (hereinafter in this part referred to as the “agreement”) deposited in the archives of the United Nations. Sec. 1333. governor and alternate governor (a) The President, by and with the advice and consent of Appointment. 22 USC 290i–1. the Senate, shall appoint a Governor and an Alternate Governor of the Bank. The term of office for the Governor and the Alternate Governor shall be five years, subject at any time to termination of appointment or to reappointment. The Governor and Alternate Governor shall remain in office until a successor has been appointed. (b) No person shall be entitled to receive any salary or other compensation from the United States for services as a Governor or Alternate Governor, except for reasonable expenses to attend meetings of the Board of Governors. (c) The Governor, or in the Governor’s absence the Alternate Governor, on the instructions of the President, shall cast the votes of the United States for the Director to represent the United States in the Bank. Sec. 1334. director or alternate director; allowances The Director or Alternate Director representing the 22 USC 290i–2. United States, if citizens of the United States, may, in the discretion of the President, receive such compensation, allowances, and other benefits as, together with those received from the Bank and from the African Development Fund, may not exceed those authorized for a chief of mission under the Foreign Service Act of 1980. 22 USC 3901 note. Sec. 1335. applicability of bretton woods agreements act The provisions of section 4 of the Bretton Woods 22 USC 290i–3. Agreements Act (22 U.S.C. 286b) shall apply with respect to the Bank to the same extent as with respect to the International Bank for Reconstruction and Development and the International Monetary Fund. Reports with respect to the Bank under paragraphs (5) and (6) of section 4 of that Act shall be included in the first and subsequent reports made thereunder after the United States accepts membership in the Bank. Sec. 1336. restrictions (a) Unless authorized by law, neither the President, nor any person or agency, shall, on behalf of the United States— (1) subscribe to additional shares of stock of the Bank; (2) vote for or agree to any amendment of the agreement which increases the obligations of the United States, or which changes the purpose or functions of the Bank; or (3) make a loan or provide other financing to the Bank, except that funds for technical assistance may be provided to the Bank by a United States agency created pursuant to an Act of Congress which is authorized by law to provide funds to international organizations. Sec. 1337. federal reserve banks as depositories Any Federal Reserve bank which is requested to do so by the Bank shall act as its depository or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these functions by the Federal Reserve banks. Sec. 1338. subscription of stock (a) The President is authorized to agree to subscribe on behalf of the United States to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank: Provided, however, That the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. (b) There is authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury of the initial United States subscription to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank, $359,733,570: Provided, however, That not more than $17,986,679 of such sum may be made available for paid in subscriptions to the Bank for each of the fiscal years 1982, 1983, and 1984. (c) Any payment or distributions of moneys from the Bank to the United States shall be covered into the Treasury as a miscellaneous receipt. Sec. 1339. jurisdiction of united states courts For the purposes of any civil action which may be brought within the United States, its territories or possessions, or the Commonwealth of Puerto Rico, by or against the Bank in accordance with the agreement, the Bank shall be deemed to be an inhabitant of the Federal judicial district in which its principal office within the United States or its agent appointed for the purpose of accepting service or notice of service is located, and any such action to which the Bank shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States, including the courts enumerated in section 460 of title 28, United States Code, shall have original jurisdiction of any such action. When the Bank is defendant in any action in a State court, it may at any time before the trial thereof remove the action into the appropriate district court of the United States by following the procedure for removal provided in section 1446 of title 28, United States Code. Sec. 1340. effectiveness of agreement Paragraph 5 of article 49, articles 50 through 59, and the 22 USC 290i–8. other provisions of the agreement shall have full force and effect in the United States, its territories and possessions, and the Commonwealth of Puerto Rico, upon acceptance of membership by the United States in the Bank. The President, at the time of deposit of the instrument of acceptance of membership by the United States in the Bank, shall also deposit a declaration as provided in article 64, paragraph 3, of the agreement that the United States retains for itself and its political subdivisions the right to tax salaries and emoluments paid by the Bank to United States citizens or nationals. Sec. 1341. securities issued by the bank (a) Any securities issued by the Bank (including any 22 USC 290i–9. guarantee by the Bank, whether or not limited in scope) in connection with the raising of funds for inclusion in the Bank’s ordinary capital resources as defined in article 9 of the agreement and any securities guaranteed by the Bank as to both principal and interest to which the commitment in article 7, paragraph 4(a), of the agreement is expressly applicable, shall be deemed to be exempted securities within the meaning of section 3(a)(2) of the Securities Act of 1933 (15 U.S.C. 77c) and section 3(a)(12) of the Securities Exchange Act of 1934 (15 U.S.C. 78c). The Bank shall file with the Securities and Exchange Commission such annual and other reports with regard to such securities as the Commission shall determine to be appropriate in view of the special character of the Bank and its operations as necessary in the public interest or for the protection of investors. (b) The Securities and Exchange Commission, acting in consultation with such agency or officer as the President shall designate, is authorized to suspend the provisions of subsection (a) at any time as to any or all securities issued or guaranteed by the Bank during the period of such suspension. The Commission shall include in its annual reports to Congress such information as it shall deem advisable with regard to the operations and effect of this section and in connection therewith shall include any views submitted for such purpose by any association of dealers registered with the Commission. Sec. 1342. technical amendments (a) The seventh sentence of paragraph 7 of section 5136 of the Revised Statutes of the United States (12 U.S.C. 24) is amended by striking out “or” after “the Inter-American Development Bank” and inserting in lieu thereof a comma, and by inserting “or the African Development Bank” after “the Asian Development Bank”. (b) Section 701(a) of Public Law 95–118 (22 U.S.C. 262d(a)) is amended by striking out “and” after “the African Development Fund,” and inserting “and the African Development Bank,” after “the Asian Development Bank,”. (c) Section 801(a) of Public Law 95–118 (22 U.S.C. 262f(a)) is amended by striking out “and” after “the African Development Fund,” and inserting “and the African Development Bank,” after “the Asian Development Bank,”. (d) Section 51 of Public Law 91–599 (22 U.S.C. 276c–2) is amended by striking out “and” after “the Asian Development Bank,” and inserting “and the African Development Bank,” after “the African Development Fund,”. PART 4— INTER-AMERICAN DEVELOPMENT BANK AND ASIAN DEVELOPMENT BANK Sec. 1351. contributions to the inter-american development bank (a) The Inter-American Development Bank Act (22 U.S.C. 283 et seq.) is amended by adding at the end thereof the following new section: “Sec. 30. (a) The United States Governor of the Bank is authorized on behalf of the United States to contribute to the Fund for Special Operations $70,000,000: Provided, however, That any commitment to make such contribution shall be made subject to obtaining the necessary appropriations. “(b) In order to pay for a portion of the increase in the United States subscription to the capital stock of the Bank provided for in section 29(a) and for the United States contribution to the Fund for 22 USC 283z–1. Special Operations provided for in this section, there are authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury, (1) $274,920,799 for the United States subscription, and (2) $70,000,000 for the United States contribution to the Fund for Special Operations: Provided, however, That no funds may be made available for such contribution to the Fund for Special Operations for the fiscal year 1982.”. (b) Section 29(b) of the Inter-American Development Bank Act (22 U.S.C. 283z–1(b)) is amended by striking out the period and inserting in lieu thereof the following: “: Provided, however, That for contributions to the Fund for Special Operations, not more than $175,000,000 may be made available for the fiscal year 1982, and not more than $105,000,000 may be made available for the fiscal year 1983.”. (c) Section 26(b) of the Inter-American Development Bank Act (22 U.S.C 283w(b)) is amended by striking out the period and inserting in lieu thereof the following: “: Provided, however, That not more than $15,677,000 may be made available to the Fund for Special Operations for the fiscal year 1982.”. Sec. 1352. contributions to the asian development fund (a) The Asian Development Bank Act (22 U.S.C. 285 et seq.) is amended by adding at the end thereof the following new section: “Sec. 26. (a) The United States Governor of the Bank is authorized to contribute on behalf of the United States $66,750,000 to the Asian Development Fund, a special fund of the Bank: 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 Asian Development Fund provided for in this section, there is authorized to be appropriated, without fiscal year limitation, $66,750,000 for payment by the Secretary of the Treasury: Provided, however, That no funds may be made available for such contribution for the fiscal year 1982.”. (b) Section 24(b) of the Asian Development Bank Act (22 U.S.C. 285u(b)) is amended by striking out the period and inserting in lieu thereof the following: “: Provided, however, That not more than $111,250,000 of such sum may be made available for the fiscal year 1982, and not more than $44,500,000 of such sum may be made available for the fiscal year 1983.”. (c) Section 23(b) of the Asian Development Bank Act (22 U.S.C. 285t(b)) is amended by striking out the period and inserting in lieu thereof the following: “: Provided, however, That not more than $14,116,177 may be made available for such contribution for the fiscal year 1982.”. Sec. 1353. future subscriptions of stock to the asian development bank Section 22(a) of the Asian Development Bank Act (22 U.S.C. 285s(a)) is amended by striking out “That any subscription to additional shares shall be made only after the amount required for such subscription has been appropriated” and inserting in lieu thereof “That any subscription to additional shares shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts”. PART 5— TARGETING ASSISTANCE TO THE NEEDY; CONGRESSIONAL CONSULTATIONS Sec. 1361. amendments to public law 95–118 (a) Public Law 95–118 (22 U.S.C. 262c et seq.) is amended by inserting immediately after the enacting clause the following: “Section 1. “short title This Act may be cited as the ‘International Financial 22 USC 262c note. Institutions Act’”. (b) Public Law 95–118 is further amended by adding at the end thereof the following new titles: “TITLE XI— TARGETING ASSISTANCE TO THE NEEDY “Sec. 1101. (a) The Congress finds that there is a need for concerted 22 USC 262g–1. international efforts to deal with the problems of malnutrition, low life expectancy, childhood disease, underemployment, and low productivity in developing countries. “(b) The Congress notes with approval that the Inter-American Development Bank, under the terms of its Fifth Replenishment, has adopted the target that 50 percent of its lending benefit the poorest groups and has developed a usable methodology for determining the proportion of its lending which benefits such groups. “Sec. 1102. (a) The Secretary of the Treasury shall consult with 22 USC 262g–2. representatives of other member countries of the International Bank for Reconstruction and Development, the International Development Association, the Asian Development Bank, the African Development Fund, and the African Development Bank (if the United States becomes a member of that Bank), for the purpose of establishing guidelines within each of those institutions which specify that, in a manner consistent with the purposes and charters of those institutions, a specified proportion of the annual lending by each institution shall be designed to benefit needy people, primarily by financing sound, efficient, productive, self-sustaining projects designed to benefit needy people in developing countries, thus helping poor people improve their conditions of life. “(b) The Congress finds that projects to construct basic infrastructure, to expand productive capacity (including private enterprise), and to address social problems can all meet the objectives of this “Needy people.” section if they are designed and implemented properly. For the purposes of this title, ‘needy people’ means those people living in absolute’ or ‘relative’ poverty as determined under the standards employed by the International Bank for Reconstruction and Development and the International Development Association. “Sec. 1103. The Secretary of the Treasury shall, not later than May 1 of 1982, 1983, and 1984, report to the Speaker of the House of Representatives and the Chairman of the Committee on Foreign Relations of the Senate on the progress being made toward achieving the goals of section 1102, and shall include in each such report, for each of the institutions referred to in sections 1101 and 1102, as accurate an estimate as is practicable of the proportion of the lending by that institution which benefits needy people in its borrower countries. “TITLE XII— CONGRESSIONAL CONSULTATIONS “Sec. 1201. The Secretary of the Treasury or his designee shall consult with the Chairman and the Ranking Minority Member of— “(1) the Committee on Banking, Finance and Urban Affairs of the House of Representatives, the Committee on Appropriations of the House of Representatives, and the appropriate subcommittee of each such committee, and “(2) the Committee on Foreign Relations of the Senate, the Committee on Appropriations of the Senate, and the appropriate subcommittee of each such committee, for the purpose of discussing the position of the executive branch and the views of the Congress with respect to any international negotiations being held to consider future replenishments or capital expansions of any multilateral development bank which may involve an increased contribution or subscription by the United States. Such consultation shall be made (A) not later than 30 days before the initiation of such international negotiations, (B) during the period in which such negotiations are being held, in a frequent and timely manner, and (C) before a session of such negotiations is held at which the United States representatives may agree to such a replenishment or capital expansion.”. PART 6— MISCELLANEOUS PROVISIONS Sec. 1371. elimination of certain reports (a) (1) Section 31 of the Bretton Woods Agreements Act (22 U.S.C. 286e–10) is repealed. (2) Section 35 of that Act (22 U.S.C. 286u) is amended by striking out “, and shall report” and all that follows through “goal”. (b) (1) Section 801 of Public Law 95–118 (22 U.S.C. 262f) is amended— (A) by striking out “(a)”; and (B) by repealing subsection (b). (2) Section 901 of that Act (22 U.S.C. 262g) is amended— (A) by striking out “(a)”; and (B) by repealing subsection (b). Sec. 1372. effective date and availability of funds This subtitle shall take effect upon its enactment, except that funds authorized to be appropriated by any provision contained in part 1 or part 4 shall not be available for use or obligation prior to October 1, 1981. Subtitle C— Foreign Assistance and Foreign Affairs Agencies Sec. 1381. authorization ceilings The following ceilings are hereby established: (1) American schools and hospitals abroad: The amount 22 USC 2174 note. 22 USC 2174. authorized to be appropriated for the fiscal year 1982 to carry out section 214 of the Foreign Assistance Act of 1961 shall not exceed $20,000,000. (2) International organizations and programs: The amount 22 USC 2222 note. 22 USC 2222. authorized to be appropriated for the fiscal year 1982 under section 302(a)(1) of the Foreign Assistance Act of 1961 shall not exceed $255,650,000. (3) International narcotics control: The amount authorized 22 USC 2291a note. 22 USC 2291. to be appropriated for the fiscal year 1982 to carry out section 481 of the Foreign Assistance Act of 1961 shall not exceed $37,700,000. (4) International disaster assistance: The amount authorized 22 USC 2292a note. 22 USC 2292a. 22 USC 2292. to be appropriated for the fiscal year 1982 under section 492 of the Foreign Assistance Act of 1961 to carry out section 491 of that Act shall not exceed $27,000,000. (5) Inter-american foundation: The amount authorized to be 22 USC 290f note. 22 USC 290f. appropriated for the fiscal year 1982 to carry out section 401 of the Foreign Assistance Act of 1969 shall not exceed $12,000,000. (6) Peace corps: The amount authorized to be appropriated for 22 USC 2502 note. 22 USC 2502. the fiscal year 1982 under section 3(b) of the Peace Corps Act to carry out that Act shall not exceed $105,000,000. (7) International organizations and conferences—assessed contributions: The amount authorized to be appropriated for the fiscal year 1982 for assessed contributions to international organizations under “International Organizations and Conferences” shall not exceed $454,591,000. (8) Board for international broadcasting: The amount 22 USC 2877 note. authorized to be appropriated for the fiscal year 1982 under section 8(a)(1)(A) of the Board for International Broadcasting Act of 1973 to carry out that Act shall not exceed $98,317,000. 22 USC 2877. (9) International communication agency—salaries and expenses: The amount authorized to be appropriated for the fiscal year 1982 for salaries and expenses for the International Communication Agency, excluding amounts authorized by section 704 of the United States Information and Educational Exchange Act of 1948 (relating to nondiscretionary personnel 22 USC 1477b. costs and currency fluctuations), shall not exceed $452,187,000. (10) Arms control and disarmament agency: The amount 22 USC 2589 note. 22 USC 2589. authorized to be appropriated for the fiscal year 1982 under section 49(a)(1) of the Arms Control and Disarmament Act to carry out the purposes of that Act (other than the amounts necessary for increases in salary, pay, retirement, other employee benefits authorized by law, and other nondiscretionary costs, and to offset adverse fluctuations in foreign currency exchange rates) shall not exceed $18,268,000.

   Effective date note
   Amendment by Pub. L. 97–35 effective Aug. 13, 1981, see section 1372 of Pub. L. 97–35, set out as an Effective Date note under section 290i of this title.

1 of 4 references resolved to an enrolled provision · 3 partial