Title 22 — Foreign Relations and IntercourseRelease 119-73

§283m Additional increases in resources of the Fund for Special Operations

Title 22 › Chapter CHAPTER 7— - INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter SUBCHAPTER XII— - INTER-AMERICAN DEVELOPMENT BANK › § 283m

Last updated Apr 6, 2026|Official source

Summary

The U.S. Governor at the Bank may vote for a plan from the April 1967 meeting to raise the bank’s special operations fund by $1,200,000,000. If the plan is approved, the United States may pay $900,000,000 to that fund under the plan’s rules. The payment must keep local cost financing as low as possible because of the U.S. balance-of-payments deficit. The U.S. Governor may also vote for an amendment to Annex C to change how Executive Directors are chosen. Up to $900,000,000 is allowed to be appropriated for the U.S. share with no fiscal year limit. The U.S. must use its vote to block any loan that could help a country get sophisticated or heavy military equipment.

Full Legal Text

Title 22, §283m

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)The United States Governor of the Bank is hereby authorized to vote in favor of the resolution entitled “Increase of $1,200,000,000 in Resources of Fund for Special Operations” proposed 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 Operations of the Bank, the sum of $900,000,000, in accordance with and subject to the terms and conditions 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)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)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.

Reference

Citations & Metadata

Citation

22 U.S.C. § 283m

Title 22 — Foreign Relations and Intercourse

Last Updated

Apr 6, 2026

Release point: 119-73