§283z–1 Increase in Authorized Capital Stock of Bank and Increase in Resources of Fund for Special Operations

Summary

The United States may agree to two Bank resolutions that would raise the Bank’s capital and boost its Fund for Special Operations. If the Bank’s Board adopts them, the U.S. can subscribe to 227,896 new shares (210,804 callable and 17,092 paid‑in) and contribute $630,000,000 to the Fund. Any commitment only takes effect if Congress provides the money in advance. Congress may appropriate, without fiscal year limit, $2,474,287,189 to cover the U.S. share of the new capital and $630,000,000 for the Fund. No more than $175,000,000 may be made available for FY 1982 and $105,000,000 for FY 1983. The Treasury must pay the Fund contribution by letter of credit in four yearly payments and must get a Bank certification that undrawn balances won’t exceed the U.S. share of expected disbursements for the next three months. Money can’t be used to help countries that are not Bank members.