Title 22, Foreign Relations and IntercourseRelease 119-73not60

§290g–11 Additional Authorization for Payment of United States Contribution

Title 22 › Chapter 7— INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter XXII— AFRICAN DEVELOPMENT FUND › § 290g–11

Last updated Apr 5, 2026|Official source

Summary

The U.S. Governor may commit $125,000,000 as the United States' contribution to the Fund's second round of funding, but any pledge must wait for Congress to provide funds. The Treasury Secretary may use that $125,000,000 without a fiscal-year limit, must pay by letter of credit in three annual installments, and must get Fund confirmation that any unused balance won't exceed the U.S. share of expected payments for the next three months.

Full Legal Text

Title 22, §290g–11

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)The United States Governor of the Fund is authorized to contribute on behalf of the United States $125,000,000 to the Fund as the United States contribution to the second replenishment of the resources of the Fund, except that any commitment to make such contribution shall be made subject to obtaining the necessary appropriations.

(b)In order to pay for the United States contribution provided for in this section, there is authorized to be appropriated, without fiscal year limitation, $125,000,000 for payment by the Secretary of the Treasury.

(c)For the purpose of keeping to a minimum the cost to the United States, the Secretary of the Treasury—

(1)shall pay the United States contribution to the African Development Fund authorized by this section by letter of credit in three annual installments; and

(2)shall take the steps necessary to obtain a certification from the Fund that any undisbursed balances resulting from draw-downs on such letter of credit will not exceed at any time the United States share of expected disbursement requirements for the following three-month period.

Reference

Citations & Metadata

Citation

22 U.S.C. § 290g–11

Title 22, Foreign Relations and Intercourse

Last Updated

Apr 5, 2026

Release point: 119-73not60