S 662 · 96th Congress · Foreign Trade and International Finance

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.

Introduced 1979-03-14· Sponsored by Sen. Church, Frank [D-ID]· Senate

Bill Progress

1
Introduced
Committee
3
Senate Vote
4
House
Enacted
Latest: Public Law 96-259.(1980-06-03)

Recorded Votes

PassedHouse · 1980-05-21
Yea 224Nay 181
PassedHouse · 1980-05-21
Yea 224Nay 181
PassedHouse · 1980-04-17
Yea 211Nay 180

Plain Language Summary

[AI summary unavailable — showing source text] 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 $700,000,000 to such Fund. Authorizes appropriations for such purposes. Title II: Asian Development Bank - Amends the Asian Development Bank Act to authorize a United States contribution of $445,000,000 to the Asian Development Fund. Authorizes appropriations for such purpose. 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. Title IV: Effective Date - Prohibits the use or obligation of funds authorized to be appropriated under this Act prior to October 1, 1979.…

Summarized by Claude AI · Non-partisan · For informational purposes only