96th Congress > House > Vote 780
Sponsor: BAUMAN, Robert Edmund (R-MD)
Description: TO AMEND H.R. 3829, INTERNATIONAL DEVELOPMENT BANKS, BY REDUCING THE AUTHORIZATION FOR THE U.S. SUBSCRIPTION AND CONTRIBUTION TO THE INTER AMERICAN BANK FROM $2.749 BILLION TO $1.650 BILLION, AND REDUCING THE U.S. CONTRIBUTION TO THE FUND FOR SPECIAL OPERATIONS FROM $700 MILLION TO $600 MILLION. (MOTION PASSED)
Bill summary: (Measure passed House, amended, roll call #124 (219-166))
=Title I: Inter-American Development Bank= - Amends the Inter-American Development Bank Act to authorize the United States Governor of the Bank to vote for two resolutions increasing: (1) the authorized capital stock of the Bank; and (2) the resources of the Fund for Special Operations. Authorizes the U.S. Governor: (1) to subscribe to 227,896 shares of such increased authorized capital stock; and (2) to contribute $600,000,000 to
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such Fund. Authorizes appropriations for such purposes. Stipulates that the U.S. contribution shall be by letter of credit in four annual installments. Prohibits the use of authorized funds for assistance to nonmember nations.
Directs the President to evaluate a proposal for joint action by the Western Hemisphere nations and nations participating in the Inter-American Development Bank to increase energy and mineral resource exploration and exploitation in such Hemisphere through investment insurance by such Bank and other multilateral incentives. Requires the President to report the results and recommendations to Congress.
=Title II: Asian Development Bank= - Amends the Asian Development Bank Act to authorize a United States contribution of $180,000,000 to the Asian Development Fund. Authorizes appropriations for such purpose. Stipulates that the U.S. contribution shall be by letter of credit in four annual installments.
Authorizes the U.S. Governor of such Bank to contribute to a special refugee fund which shall assist countries serving as temporary asylum for Asian refugees. Authorizes appropriations for such purpose.
Prohibits the Secretary of Treasury from paying the U.S. contribution to such Fund if Taiwan is excluded from membership in such Bank.
=Title III: African Development Fund= - Amends the African Development Fund Act to authorize a United States contribution of $125,000,000 to the African Development Fund. Authorizes appropriations for such purpose. Stipulates that the U.S. contribution shall be by letter of credit in three annual installments.
=Title IV: Export Opportunity Enhancement= - Directs the Secretary of the Treasury to instruct the U.S. Directors of the Inter-American Development Bank, the Asian Development Bank, and the African Development Fund to expeditiously communicate information about potential procurement opportunities for U.S. firms.
=Title V: Human Rights Reporting= - Directs the Secretary to make quarterly written reports to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Foreign Relations of the Senate of all loans made by specified international financial institutions. Stipulates that the information required for such reports shall be included in the annual report to the Congress of the National Advisory Council on International Monetary and Financial Policies.
Directs the Secretary, in consultation with the Secretary of State, to make quarterly written reports to specified members of such committees and to the Subcommittee on Internal Development Institutions and Finance of the Committee on Banking, Finance and Urban Affairs of the House of Representatives, and the Committee on Foreign Relations of the Senate on loans, financial assistance, or technical assistance opposed for human rights reasons.
Directs the Secretary to consult with such members to inform them regarding prospective changes in U.S. human rights policies toward countries which have or recently have had poor, human rights records.
Requires the President to direct the U.S. Governors of specified international development banks to propose an amendment to their Articles of Agreement establishing human rights standards to be considered in connection with applications for assistance.
=Title VI: Use of Renewable Resources for Energy Production= - Requires the U.S. Government through its voice and vote in specified international development banks to encourage such institutions to promote and develop renewable energy resources to meet the needs of rural communities.
=Title VII: Effective Date= - Prohibits the use or obligation of funds authorized to be appropriated under this Act prior to October 1, 1979.
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Bill titles: A bill to provide for increased participation by the United States in the Inter-American Development Bank, the Asian Development Bank, and the African Development Fund.
Original source documents: Digest of the Congressional Record vol. 36, p. 1610;
Links for more info on the vote: congress.gov
