22 U.S.C. § 262c — Commitments for United States contribu-

Page 36 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 262c § 262c. Commitments for United States contribu- tions to international financial institutions fostering economic development in less de- veloped countries; continuation of participa- tion (a) Congressional findings It is the sense of the Congress that— (1) for humanitarian, economic, and political reasons, it is in the national interest of the United States to assist in fostering economic development in the less developed countries of this world; (2) the development-oriented international financial institutions have proved themselves capable of playing a significant role in assist- ing economic development by providing to less developed countries access to capital and tech- nical assistance and soliciting from them max- imum self-help and mutual cooperation; (3) this has been achieved with minimal risk of financial loss to contributing countries; (4) such institutions have proved to be an ef- fective mechanism for sharing the burden among developed countries of stimulating eco- nomic development in the less developed world; and (5) although continued United States par- ticipation in the international financial insti- tutions is an important part of efforts by the United States to assist less developed coun- tries, more of this burden should be shared by other developed countries. As a step in that di- rection, in future negotiations, the United States should work toward aggregate con- tributions to future replenishments to inter- national financial institutions covered by this Act not to exceed 25 per centum. (b) Funding commitments to international finan- cial institutions; availability of funds subject to appropriations The Congress recognizes that economic devel- opment is a long-term process needing funding commitments to international financial institu- tions. It also notes that the availability of funds for the United States contribution to inter- national financial institutions is subject to the appropriations process. (Pub. L. 95–118, title I, § 101, Oct. 3, 1977, 91 Stat. 1067.) Editorial Notes REFERENCES IN TEXT This Act, referred to in subsec. (a)(5), is Pub. L. 95–118, Oct. 3, 1977, 91 Stat. 1067, known as the Inter- national Financial Institutions Act, which enacted sec- tions 262c, 262d, 262e to 262g–3, 262m to 262p–4q, 262p–5 to 262p–12, 262p–13 to 262p–17, 262r to 262r–5, 262s to 262t, 282i, 284n, 285s, 285t, 286e–1f, and 290g–10 of this title, re- pealed sections 283y, 284m, and 290g–9 of this title, and enacted provisions set out as notes under sections 262c and 282i of this title. For complete classification of this Act to the Code, see Short Title of 1977 Amendment note set out under section 261 of this title and Tables. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Section effective Oct. 3, 1977, see section 1001 of Pub. L. 95–118, set out as a note under section 282i of this title. FUTURE UNITED STATES CONTRIBUTIONS TO THE INTERNATIONAL FINANCIAL INSTITUTIONS Pub. L. 96–536, § 101(b) [H.J. Res. 637, § 101(b); H.R. 4473, title I], Dec. 16, 1980, 94 Stat. 3167, provided in part that: ‘‘It is the sense of the Congress that the United States share of contributions to future replenishments of the International Financial Institutions should not exceed the percentages enumerated below for each of the re- spective accounts within these institutions: ‘‘Asian Development Bank: ‘‘Paid-in capital, 16.3 percent; ‘‘Callable capital, 16.3 percent; ‘‘Asian Development Fund, 22.2 percent; ‘‘African Development Bank: ‘‘Special Fund, 18 percent; ‘‘Inter-American Development Bank: ‘‘Paid-in capital, 34.5 percent; ‘‘Callable capital, 34.5 percent; ‘‘Fund for Special Operations, 40 percent; ‘‘International Bank for Reconstruction and Devel- opment: ‘‘Paid-in capital, 24 percent; ‘‘Callable capital, 24 percent; ‘‘International Development Association, 25 per- cent; ‘‘International Finance Corporation, 23 percent.’’ Similar provisions were contained in the following appropriation acts: Pub. L. 96–123, § 101(a) [incorporating Pub. L. 95–481, title III], Nov. 20, 1979, 93 Stat. 923. Pub. L. 95–481, title III, Oct. 18, 1978, 92 Stat. 1599. Pub. L. 95–148, title III, Oct. 31, 1977, 91 Stat. 1238. STANDARDS FOR HUMAN NEEDS AND PROTECTION OF HUMAN RIGHTS; CONSULTATION FOR DEVELOPMENT OF CRITERIA; REPORT TO CONGRESS Pub. L. 95–118, title VII, § 703, Oct. 3, 1977, 91 Stat. 1070, directed the Secretary of State and the Secretary of the Treasury to initiate a wide consultation designed to develop a viable standard for the meeting of basic human needs and the protection of human rights and a mechanism for acting together to insure that the re- wards of international economic cooperation are espe- cially available to those who subscribe to such stand- ards, and report to Congress not later than one year after Oct. 3, 1977. § 262d. Human rights and United States assist- ance policies with international financial in- stitutions (a) Policy goals The United States Government, in connection with 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 De- velopment Fund, the Asian Development Bank, the African Development Bank, the European Bank for Reconstruction and Development, and the International Monetary Fund, shall advance the cause of human rights, including by seeking to channel assistance toward countries other than those whose governments engage in— (1) a pattern of gross violations of inter- nationally recognized human rights, such as torture or cruel, inhumane, or degrading treatment or punishment, prolonged detention without charges, or other flagrant denial to life, liberty, and the security of person; or (2) provide refuge to individuals committing acts of international terrorism by hijacking aircraft. (b) Policy considerations for Executive Directors of institutions in implementation of duties Further, the Secretary of the Treasury shall instruct each Executive Director of the above