22 U.S.C. § 285u

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 285u - Additional contribution to special funds

(a) United States share

The United States Governor of the Bank is authorized to contribute on behalf of the United States $378,250,000 to the Asian Development Fund, a special fund of the Bank, except that any commitment to make such contribution shall be made subject to obtaining the necessary appropriations.

(b) Authorization of appropriations; maximum available for certain years

In order to pay for the United States contribution to the Asian Development Fund provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $378,250,000 for payment by the Secretary of the Treasury: Provided, however, That not more than $111,250,000 of such sum may be made available for the fiscal year 1982, and not more than $44,500,000 of such sum may be made available for the fiscal year 1983.

(c) Funding requirements

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 Asian Development Fund authorized by this section by letter of credit in four annual installments; and

(2) shall take the steps necessary to obtain a certification from the Bank that any undisbursed balances resulting from drawdowns 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.

22 U.S.C. § 285u

Pub. L. 89-369, §24, as added Pub. L. 96-259, title II, §201, June 3, 1980, 94 Stat. 430; amended Pub. L. 97-35, title XIII, §1352(b), Aug. 13, 1981, 95 Stat. 744.

EDITORIAL NOTES

AMENDMENTS1981-Subsec. (b). Pub. L. 97-35 inserted provision limiting amount of appropriations for fiscal years 1982 and 1983.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 1981 AMENDMENT Amendment by Pub. L. 97-35 effective Aug. 13, 1981, except that any funds authorized to be appropriated shall not be available for use or obligation prior to Oct. 1, 1981, see section 1372 of Pub. L. 97-35 set out as an Effective Date note under section 290i of this title.