Title 22 — Foreign Relations and IntercourseRelease 119-73

§284aa Multilateral debt relief

Title 22 › Chapter CHAPTER 7— - INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter SUBCHAPTER XIII— - INTERNATIONAL DEVELOPMENT ASSOCIATION › § 284aa

Last updated Apr 6, 2026|Official source

Summary

The Treasury Secretary can give up to $565,020,000 to the International Development Association to cover debt relief costs under the Multilateral Debt Relief Initiative during IDA’s seventeenth replenishment. Congress must provide the money, and this does not change any funding arrangements that were already in place on December 16, 2014. Congress may appropriate up to $565,020,000, with no fiscal year limit, so the Treasury can make that payment. Multilateral Debt Relief Initiative: the debt-relief plan from the G8 Finance Ministers’ June 11, 2005 “Conclusions on Development,” confirmed by G8 leaders at Gleneagles on July 8, 2005.

Full Legal Text

Title 22, §284aa

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)The Secretary of the Treasury is authorized to contribute, on behalf of the United States, not more than $565,020,000 to the International Development Association for the purpose of funding debt relief costs under the Multilateral Debt Relief Initiative incurred in the period governed by the seventeenth replenishment of resources of the International Development Association, subject to obtaining the necessary appropriations and without prejudice to any funding arrangements in existence on December 16, 2014.

(b)In order to pay for the United States contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, not more than $565,020,000 for payment by the Secretary of the Treasury.

(c)In this section, the term “Multilateral Debt Relief Initiative” means the proposal set out in the G8 Finance Ministers’ Communique entitled “Conclusions on Development,” done at London, June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.

Reference

Citations & Metadata

Citation

22 U.S.C. § 284aa

Title 22 — Foreign Relations and Intercourse

Last Updated

Apr 6, 2026

Release point: 119-73