Description: TO AGREE TO THE CONFERENCE REPORT ON H.R. 9721, TO PROVIDE FOR INCREASED PARTICIPATION BY THE UNITED STATES IN INTER-AMERICAN DEVELOPMENT BANK, TO PROVIDE FOR THE ENTRY OF NONREGIONAL MEMBERS AND THE BAHAMAS AND GUYANA IN THE INTER-AMERICAN DEVELOPMENT BANK AND TO PROVIDE FOR THE PARTICIPATION OF THE UNITED STATES IN THE AFRICAN DEVELOPMENT FUND.
Bill summary: (Conference report filed in House, H. Rept. 94-1121)
=Title I: Inter-American Development Bank= - Authorizes the United States Governor of the Inter-American Development Bank to vote in favor of two proposed resolutions providing for an increase in the authorized capital stock of the Bank and an increase in the resources of the Fund for Special Operations.
Authorizes appropriations of amounts necessary to purchase 99,474 shares of capital stock in the bank and $600,000,000 to contribute to the
Fund for Special Operations.
Provides that the Governor may vote for an additional increase of authorized callable capital stock. States that the Governor may agree on behalf of the United States to subscribe to 37,303 shares of such increased capital.
Authorizes the United States Executive Director of the Bank to vote against financial assistance to any country which engages in gross violations of internationally recognized human rights.
Directs the United States Executive Director of the Bank to propose the development and utilization of light-capital or intermediate technologies as major facets of the Bank's development strategy.
=Title II: African Development Fund= - African Development Fund Act - Authorizes the President to accept participation for the United States in the African Development Fund of the United Nations. Directs the President, by and with the advice and consent of the Senate, to appoint a Governor, and an alternate Governor of the Fund.
Authorizes to be appropriated without fiscal year limitation, as the United States subscription, $25,000,000, to be paid by the Secretary of the Treasury to the Fund in three annual installments of $9,000,000, $8,000,000, and $8,000,000.
States that the agreement shall have full force and effect in the United States.
Provides that the President shall instruct the United States Director to vote against any utilization of funds of the Fund for the benefit of any country when such country: (1) has nationalized, expropriated or seized property owned by any United States citizen, corporation, partnership, or association not less than 50 percent beneficially owned by United States citizens, or (2) has taken steps to repudiate or nullify existing agreements with any United States citizen, corporation, partnership, or association not less than 50 percent beneficially owned by United States citizens, or (3) has imposed discriminatory taxes or other exactions, or restrictive maintenance or operational conditions, or has taken other actions, which have the effect of nationalizing, expropriating, orotherwise seizing owenerhip or control of property so owned.
Authorizes the Governor of the Bank to vote against financial assistance to any country which engages in gross violations of internationally recognized human rights.
Directs the United States Governor of the Fund to instruct the Executive Director representing the United States to vote, for one year, against any extension of financial assistance, or technical assistance to any government which provides refuge to individuals committing acts of international terrorism, such as the hijacking of an aircraft.
States the sense of the Congress that the President should furnish assistance to foreign countries and international organizations for the investigation and planning for the control of swine influenza.
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Bill titles: A bill to provide for increased participation by the United States in the Inter-American Development Bank, to provide for the entry of nonregional members and the Bahamas and Guyana in the Inter-American Development Bank, to provide for the participation of the United States in the African Development Fund, and for other purposes.
Original source documents: Digest of the Congressional Record vol. 122-75, p. H4705;
Links for more info on the vote: congress.gov