Title 22, Foreign Relations and IntercourseRelease 119-73not60

§290g–23 Multilateral Debt Relief

Title 22 › Chapter 7— INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter XXII— AFRICAN DEVELOPMENT FUND › § 290g–23

Last updated Apr 5, 2026|Official source

Summary

The Treasury Secretary may give up to $54,620,000 from the United States to the African Development Fund to pay debt relief costs under the Multilateral Debt Relief Initiative during the Fund’s thirteenth replenishment, if Congress provides the money. This does not change funding arrangements that existed on December 16, 2014. Congress may appropriate up to $54,620,000 for that payment without a fiscal year limit. “Multilateral Debt Relief Initiative” means the plan described by G8 finance ministers on June 11, 2005, and confirmed by G8 leaders at the Gleneagles Summit on July 8, 2005.

Full Legal Text

Title 22, §290g–23

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 $54,620,000 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 thirteenth 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 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 $54,620,000 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. § 290g–23

Title 22, Foreign Relations and Intercourse

Last Updated

Apr 5, 2026

Release point: 119-73not60