22 U.S.C. § 283n — Increase in authorized capital stock;

Page 147 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 283o Editorial Notes CODIFICATION Section was not enacted as part of Pub. L. 86–147, Aug. 7, 1959, 73 Stat. 299, known as the Inter-American Development Bank Act, which comprises this sub- chapter. § 283l. Increase in resources of the Fund for Spe- cial Operations (a) Authorization of vote; payment to Fund The United States Governor of the Bank is hereby authorized to vote in favor of the resolu- tion entitled ‘‘Increase of Resources of the Fund for Special Operations’’ proposed by the Gov- ernors at their annual meeting in April 1964, and now pending before the Board of Governors of the Bank. Upon the adoption of such resolution, the United States Governor is authorized to agree, on behalf of the United States to pay to the Fund for Special Operations of the Bank, the sum of $750,000,000, in accordance with and sub- ject to the terms and conditions of such resolu- tion. (b) Authorization of appropriations There is hereby authorized to be appropriated without fiscal year limitation, for the United States share in the increase in the resources of the Fund for Special Operations of the Bank, the sum of $750,000,000. (c) Loan disapproval by the United States With respect to any dollars herein provided, the voting power of the United States shall be exercised for the purpose of disapproving any loan from the Fund for Special Operations of the Bank for any project, enterprise, or activity in any country, during any period for which the President has suspended assistance to the gov- ernment of such country because of any action taken on or after January 1, 1962, by the govern- ment of such country or any government agency or subdivision within such country as specified in paragraph (A), (B), or (C) of subsection (e)(1) of section 2370 of this title, and the failure of such country within a reasonable time to take appropriate steps to discharge its obligations or provide relief in accordance with provisions of such subsection. (Pub. L. 86–147, § 15, formerly § 14, as added Pub. L. 89–6, Mar. 24, 1965, 79 Stat. 23; renumbered § 15, Pub. L. 90–88, § 1, Sept. 22, 1967, 81 Stat. 226.) § 283m. Additional increases in resources of the Fund for Special Operations (a) Authorization of vote; payment to Fund The United States Governor of the Bank is hereby authorized to vote in favor of the resolu- tion entitled ‘‘Increase of $1,200,000,000 in Re- sources of Fund for Special Operations’’ pro- posed by the Governors at their annual meeting in April 1967 and now pending before the Board of Governors of the Bank. Upon the adoption of such resolution, the United States Governor is authorized to agree, on behalf of the United States, to pay to the Fund for Special Oper- ations of the Bank, the sum of $900,000,000, in ac- cordance with and subject to the terms and con- ditions of such resolution, and subject to the further condition that in consideration of the United States balance-of-payments deficit any local cost financing, by project or otherwise, with the funds authorized under this section to be held to the minimum possible level. The United States Governor is also authorized to vote in favor of the amendment to Annex C of the agreement, now pending before the Board of Governors of the Bank, to modify the procedure employed in the election of Executive Directors. (b) Authorization of appropriations There is hereby authorized to be appropriated without fiscal year limitation, for the United States share in the increase in the resources of the Fund for Special Operations of the Bank, the sum of $900,000,000. (c) Loan disapproval by the United States The voting power of the United States shall be exercised for the purpose of disapproving any loan which might assist the recipient country directly or indirectly to acquire sophisticated or heavy military equipment. (Pub. L. 86–147, § 16, as added Pub. L. 90–88, § 2, Sept. 22, 1967, 81 Stat. 227.) § 283n. Increase in authorized capital stock; United States share; authorization of appro- priations (a) The United States Governor of the Bank is hereby authorized (1) to vote for an increase in the authorized capital stock of the Bank under article II, section 2, of the agreement as rec- ommended by the Board of Executive Directors in its report of April 1967, to the Board of Gov- ernors of the Bank; and (2) to agree on behalf of the United States to subscribe to its propor- tionate share of the $1,000,000,000 increase in the authorized callable capital stock of the bank. (b) There is hereby authorized to be appro- priated, without fiscal year limitation, for pay- ment by the Secretary of the Treasury of the in- creased United States subscription to the cap- ital stock of the Inter-American Development Bank, $411,760,000. (Pub. L. 86–147, § 17, as added Pub. L. 90–325, June 4, 1968, 82 Stat. 168.) § 283o. Increase in authorized capital stock and additional subscriptions of members thereto; increase in resources of Fund for Special Op- erations and contributions thereto; United States share; authorization of appropriations (a) The United States Governor of the Bank is hereby authorized to vote in favor of the two resolutions proposed by the Governors at their annual meeting in April 1970 and now pending before the Board of Governors of the Bank, which provide for (1) an increase in the author- ized capital stock to the Bank and additional subscriptions of members thereto and (2) an in- crease in the resources of the Fund for Special Operations and contributions thereto. Upon adoption of such resolutions the United States Governor is authorized to agree on behalf of the United States (1) to subscribe to eighty-two thousand three hundred and fifty-two shares of $10,000 par value of the increase in the author- ized capital stock of the Bank of which sixty-