Title 22 — Foreign Relations and IntercourseRelease 119-73
§290i–10 Authorization of United States subscription to stock; authorization of appropriations
Title 22 › Chapter CHAPTER 7— - INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter SUBCHAPTER XXIV— - AFRICAN DEVELOPMENT BANK › § 290i–10
Summary
The U.S. Governor of the Bank may agree for the United States to buy 59,632 shares of the Bank’s capital stock, but the purchase only takes effect for amounts that Congress approves ahead of time in appropriation laws. Congress may appropriate $719,370,633 to pay for the purchase, with no fiscal year limit, and the Secretary of the Treasury will make the payment.
Full Legal Text
Title 22, §290i–10
Foreign Relations and Intercourse — Source: USLM XML via OLRC
(a)The United States Governor of the Bank is authorized to agree to subscribe on behalf of the United States to fifty-nine thousand, six hundred and thirty-two shares of the capital stock of the Bank, except that the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
(b)In order to pay for the United States subscription authorized in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $719,370,633, for payment by the Secretary of the Treasury.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification section 1343 of Pub. L. 97–35 is based on section 301 of title III of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L. 100–202.
Statutory Notes and Related Subsidiaries
Fifth General Capital Increase Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 594], Nov. 29, 1999, 113 Stat. 1535, 1501A–122, provided in part that the Secretary of the Treasury may effect the United States participation in the fifth general capital increase of the African Development Bank, and authorized $40,847,011 to be appropriated without fiscal year limitation for payment by the Secretary for paid-in capital of the Bank and $639,932,485 to be appropriated without fiscal year limitation for payment by the Secretary for callable capital of the Bank.
Reference
Citations & Metadata
Citation
22 U.S.C. § 290i–10
Title 22 — Foreign Relations and Intercourse
Last Updated
Apr 6, 2026
Release point: 119-73