22 U.S.C. § 283 — Acceptance of membership by United

Page 143 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 283 (A) vote for an increase of 1,000,000 shares in the authorized capital stock of the Cor- poration; and (B) subscribe on behalf of the United States to 250,000 additional shares of the cap- ital stock of the Corporation. (2) Prior appropriation required The subscription authority provided in para- graph (1) shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. (b) Limitations on authorization of appropria- tions In order to pay for the subscription authorized in subsection (a), there are authorized to be ap- propriated, without fiscal year limitation, $50,000,000 for payment by the Secretary of the Treasury. (Aug. 11, 1955, ch. 788, § 14, as added Pub. L. 102–145, § 125(a), Oct. 28, 1991, as added Pub. L. 102–266, § 102, Apr. 1, 1992, 106 Stat. 97.) § 282m. Authority to vote for capital increases necessary to support economic restructuring in independent states of former Soviet Union The United States Governor of the Corpora- tion may vote in favor of any increase in the capital stock of the Corporation that may be needed to accommodate the requirements of the independent states of the former Soviet Union (as defined in section 5801 of this title). (Aug. 11, 1955, ch. 788, § 15, as added Pub. L. 102–511, title X, § 1005, Oct. 24, 1992, 106 Stat. 3361.) § 282n. Authority to agree to amendments to Arti- cles of Agreement The United States Governor of the Corpora- tion is authorized to agree to amendments to the Articles of Agreement of the Corporation that would— (1) amend Article II, Section 2(c)(ii), to in- crease the vote by which the Board of Gov- ernors of the Corporation may increase the capital stock of the Corporation from a three- fourths majority to a four-fifths majority; and (2) amend Article VII(a) to increase the vote by which the Board of Governors of the Cor- poration may amend the Articles of Agree- ment of the Corporation from a four-fifths ma- jority to an eighty-five percent majority. (Aug. 11, 1955, ch. 788, § 16, as added Pub. L. 102–511, title X, § 1006, Oct. 24, 1992, 106 Stat. 3361.) § 282o. Selective capital increase and amendment of the Articles of Agreement (a) Vote authorized The United States Governor of the Corpora- tion is authorized to vote in favor of a resolu- tion to increase the capital stock of the Cor- poration by $130,000,000. (b) Amendment of the Articles of Agreement The United States Governor of the Corpora- tion is authorized to agree to and accept an amendment to Article IV, Section 3(a) of the Ar- ticles of Agreement of the Corporation that achieves an increase in basic votes to 5.55 per- cent of total votes. (Aug. 11, 1955, ch. 788, § 17, as added Pub. L. 112–74, div. I, title VII, § 7081(b), Dec. 23, 2011, 125 Stat. 1259.) § 282p. Capital increases and amendment to the Articles of Agreement (a) Votes authorized The United States Governor of the Corpora- tion is authorized to vote in favor of— (1) a resolution to increase the authorized capital stock of the Corporation by 16,999,998 shares, to implement the conversion of a por- tion of the retained earnings of the Corpora- tion into paid-in capital, which will result in the United States being issued an additional 3,771,899 shares of capital stock, without any cash contribution; (2) a resolution to increase the authorized capital stock of the Corporation on a general basis by 4,579,995 shares; and (3) a resolution to increase the authorized capital stock of the Corporation on a selective basis by 919,998 shares. (b) Amendment of the Articles of Agreement The United States Governor of the Corpora- tion is authorized to agree to and accept an amendment to article II, section 2(c)(ii) of the Articles of Agreement of the Corporation that would increase the vote by which the Board of Governors of the Corporation may increase the capital stock of the Corporation from a four- fifths majority to an eighty-five percent major- ity. (Aug. 11, 1955, ch. 788, § 18, as added Pub. L. 116–136, div. B, title XI, § 21012(b)(2), Mar. 27, 2020, 134 Stat. 594.) Statutory Notes and Related Subsidiaries PURPOSES; EFFECTIVE DATE Pub. L. 116–136, div. B, title XI, § 21012(a), Mar. 27, 2020, 134 Stat. 593, provided that: ‘‘For purposes of strengthening the ability of foreign countries to pre- vent, prepare for, and respond to coronavirus and to the adverse economic impacts of coronavirus, in a manner that would protect the United States from the spread of coronavirus and mitigate an international economic crisis resulting from coronavirus that may pose a sig- nificant risk to the economy of the United States, each paragraph of subsection (b) [enacting this section and sections 284cc, 290g–25, and 290i–12 of this title and amending section 286e–2 of this title] shall take effect upon enactment of this Act [Mar. 27, 2020].’’ [For definition of ‘‘coronavirus’’ as used in section 21012(a) of Pub. L. 116–136, set out above, see section 23005 of Pub. L. 116–136, set out as a note under section 162b of Title 2, The Congress.] SUBCHAPTER XII—INTER-AMERICAN DEVELOPMENT BANK § 283. Acceptance of membership by United States in Inter-American Development Bank The President is hereby authorized to accept membership for the United States in the Inter- American Development Bank (hereinafter re- ferred to as the ‘‘Bank’’), provided for by the agreement establishing the bank (hereinafter re- Page 144 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 283a ferred to as the ‘‘agreement’’) deposited in the archives of the Organization of American States. (Pub. L. 86–147, § 2, Aug. 7, 1959, 73 Stat. 299.) Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 86–147, § 1, Aug. 7, 1959, 73 Stat. 299, provided that: ‘‘This Act [enacting this subchapter and amend- ing section 24 of Title 12, Banks and Banking] may be cited as the ‘Inter-American Development Bank Act’.’’ PROPOSALS FOR JOINT ACT BY PARTICIPANTS IN INTER- AMERICAN DEVELOPMENT BANK FOR INCREASED EX- PLORATION AND EXPLOITATION OF ENERGY AND MIN- ERAL RESOURCES OF WESTERN HEMISPHERE Pub. L. 96–259, title I, § 102, June 3, 1980, 94 Stat. 430, which required Presidential evaluation and report on a proposal for joint action by countries of Western Hemi- sphere and other countries which participate in Inter- American Development Bank to increase exploration for and exploitation of energy and mineral resources of Western Hemisphere through multilateral incentives, administered by Inter-American Development Bank, was repealed by Pub. L. 101–240, title V, § 541(d)(6), Dec. 19, 1989, 103 Stat. 2518. PAR VALUE MODIFICATION For Congressional direction that the Secretary of the Treasury maintain the value in terms of gold of the Inter-American Development Bank’s holdings of United States dollars following the establishment of a par value of the dollar at $38 for a fine troy ounce of gold pursuant to the Par Value Modification Act and for the authorization of the appropriations necessary to pro- vide such maintenance of value, see section 5152 of Title 31, Money and Finance. § 283a. Appointment of officers; term of office; salary (a) Governor and alternate governor The President, by and with the advice and con- sent of the Senate, shall appoint a governor of the Bank and an alternate for the governor. The term of office for the governor and the alternate governor shall be five years, but each shall re- main in office until a successor has been ap- pointed. (b) Executive director and alternate executive director The President, by and with the advice and con- sent of the Senate, shall appoint an executive director of the Bank and an alternate Executive Director. Except as provided for in article XV, section 3, of the agreement, the term of office for the executive director shall be three years, but he shall remain in office until a successor has been appointed. (c) Compensation No person shall be entitled to receive any sal- ary or other compensation from the United States for services as a governor, alternate gov- ernor, or executive director. (Pub. L. 86–147, § 3, Aug. 7, 1959, 73 Stat. 299; Pub. L. 91–599, ch. 2, § 21(b), Dec. 30, 1970, 84 Stat. 1658.) Editorial Notes AMENDMENTS 1970—Subsec. (b). Pub. L. 91–599 authorized appoint- ment of an alternate Executive Director. § 283b. National Advisory Council on Inter- national Monetary and Financial Problems The provisions of section 286b of this title 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. (Pub. L. 86–147, § 4, Aug. 7, 1959, 73 Stat. 299; Pub. L. 101–240, title V, § 541(e)(2), Dec. 19, 1989, 103 Stat. 2518.) Editorial Notes AMENDMENTS 1989—Pub. L. 101–240 struck out at end ‘‘Reports with respect to the Bank under paragraphs (5) and (6) of sub- section (b) of section 286b of this title shall be included in the first report made thereunder after the establish- ment of the Bank and in each succeeding report.’’ Executive Documents DELEGATION OF FUNCTIONS Functions of National Advisory Council on Inter- national Monetary and Financial Problems under this section delegated to National Advisory Council on International Monetary and Financial Policies, see sec- tion 2(a) of Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813, set out as a note under section 286b of this title. § 283c. Congressional authorization needed for certain actions Unless Congress by law authorizes such action, neither the President nor any person or agency shall, on behalf of the United States, (a) sub- scribe to additional shares of stock under article II, section 3, or article IIA, section 2, of the agreement; (b) request or consent to any change in the quota of the United States under article IV, section 3, of the agreement; (c) accept any amendment under article XII of the agreement; or (d) make a loan or provide other financing to the Bank, except that loans or other financing may be provided to the Bank by a United States agency created pursuant to an Act of Congress which is authorized by law to make loans or pro- vide other financing to international organiza- tions. Unless Congress by law authorizes such actions, no governor or alternate appointed to represent the United States shall vote for any increase of capital stock of the Bank under arti- cle II, section 2, or article IIA, section 1, of the agreement or any increase in the resources of the Fund for Special Operations under article IV, section 3(g) thereof. (Pub. L. 86–147, § 5, Aug. 7, 1959, 73 Stat. 299; Pub. L. 94–302, title I, § 103(a)(2), May 31, 1976, 90 Stat. 593.) Editorial Notes AMENDMENTS 1976—Pub. L. 94–302 inserted ‘‘, or article IIA, section 2,’’ after ‘‘article II, section 3’’ and ‘‘or article IIA, sec- tion 1,’’ after ‘‘article II, section 2,’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1976 AMENDMENT Pub. L. 94–302, title I, § 103(b), May 31, 1976, 90 Stat. 593, provided that: ‘‘The amendments made by para-