22 U.S.C. § 290I-12

U.S.C. Title 22 - FOREIGN RELATIONS AND INTERCOURSE
22 U.S.C.

United States Code, 2024 Edition

Title 22 - FOREIGN RELATIONS AND INTERCOURSE

CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC.

SUBCHAPTER XXIV - AFRICAN DEVELOPMENT BANK

Sec. 290i-12 - Seventh capital increase

From the U.S. Government Publishing Office, www.gpo.gov

§290i–12. Seventh capital increase

(a) Subscription authorized
(1) In general
The United States Governor of the Bank may subscribe on behalf of the United States to 532,023 additional shares of the capital stock of the Bank.

(2) Limitation
Any subscription by the United States to the capital stock of the Bank shall be effective only to such extent and in such amounts as are provided in advance in appropriations Acts.

(b) Authorization of appropriations
(1) In general
In order to pay for the increase in the United States subscription to the Bank under subsection (a), there are authorized to be appropriated, without fiscal year limitation, $7,286,587,008 for payment by the Secretary of the Treasury.

(2) Share types
Of the amount authorized to be appropriated under paragraph (1)—

(A) $437,190,016 shall be for paid in shares of the Bank; and

(B) $6,849,396,992 shall be for callable shares of the Bank.

(Pub. L. 97–35, title XIII, §1345, as added Pub. L. 116–136, div. B, title XI, §21012(b)(3), Mar. 27, 2020, 134 Stat. 594.)

Official source