Title 22 — Foreign Relations and IntercourseRelease 119-73

§290g–21 Multilateral debt relief

Title 22 › Chapter CHAPTER 7— - INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter SUBCHAPTER XXII— - AFRICAN DEVELOPMENT FUND › § 290g–21

Last updated Apr 6, 2026|Official source

Summary

The Secretary of the Treasury can give up to $60,000,000 to the African Development Fund to pay debt relief costs under the Multilateral Debt Relief Initiative during the Fund’s twelfth replenishment, if Congress provides the money. This payment does not change any funding deals that were in place on December 23, 2011. Congress may appropriate up to $60,000,000, without a fiscal year limit, for that payment. "Multilateral Debt Relief Initiative" means the proposal in the G8 Finance Ministers’ Communiqué titled "Conclusions on Development" done in London on June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.

Full Legal Text

Title 22, §290g–21

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 $60,000,000 to the African Development Fund for the purpose of funding debt relief costs under the Multilateral Debt Relief Initiative incurred in the period governed by the twelfth replenishment of resources of the African Development Fund, subject to obtaining the necessary appropriations and without prejudice to any funding arrangements in existence on December 23, 2011.

(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 $60,000,000 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’ Communiqué 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. § 290g–21

Title 22 — Foreign Relations and Intercourse

Last Updated

Apr 6, 2026

Release point: 119-73