I 112th CONGRESS 1st Session H. R. 3188 IN THE HOUSE OF REPRESENTATIVES October 13, 2011 Mr. Dold introduced the following bill; which was referred to the Committee on Financial Services A BILL To maintain American leadership in multilateral development banks in order to support United States economic and national security by authorizing general capital increases for the International Bank for Reconstruction and Development, the Inter-American Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development, and for other purposes.
1.
Short title
This Act may be cited as the Supporting Economic and National Security by Maintaining U.S. Leadership in Multilateral Development Banks Act.
2.
Capital stock increase for the International Bank for Reconstruction and Development
The Bretton Woods Agreements Act (22 U.S.C. 286–286tt) is amended by adding at the end the following:
69.
Capital stock increase
(a)
Increase authorized
(1)
In general
The United States Governor of the Bank may— (A)vote for an increase of 484,102 shares in the authorized capital stock of the Bank; and (B)subscribe on behalf of the United States to 81,074 additional shares of the authorized capital stock of the Bank. (2)
Subject to appropriations
Any subscription under paragraph (1) shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. (b)
Limitations on authorization of appropriations
(1)
In general
For subscriptions under subsection (a), there are authorized to be appropriated, without fiscal year limitation, $9,780,361,991 for payment by the Secretary of the Treasury. (2)
Allocation
Of the amount authorized by paragraph (1)— (A)$586,821,720 shall be for paid-in shares of the authorized capital stock of the Bank; and (B)$9,193,540,271 shall be for callable shares of the authorized capital stock of the Bank
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3.
Capital stock increase for the Inter-American Development Bank
The Inter-American Development Bank Act (22 U.S.C. 283–283z–12) is amended by adding at the end the following:
41.
Capital stock increase
(a)
Increase authorized
(1)
In general
The United States Governor of the Bank may— (A)vote in favor of the resolution providing for an increase in the authorized capital stock of the Bank, as approved by the Board of Governors of the Bank on July 21, 2010; and (B)subscribe on behalf of the United States to 1,741,135 additional shares of the authorized capital stock of the Bank. (2)
Subject to appropriations
Any subscription under paragraph (1) shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. (b)
Limitations on authorization of appropriations
(1)
In general
For the subscription under subsection (a), there are authorized to be appropriated, without fiscal year limitation, $21,004,064,337 for payment by the Secretary of the Treasury. (2)
Allocation
Of the amount authorized by paragraph (1)— (A)$510,090,175 shall be for paid-in shares of the authorized capital stock of the Bank; and (B)$20,493,974,162 shall be for callable shares of the authorized capital stock of the Bank.
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4.
Capital stock increase for the African Development Bank
The African Development Bank Act (22 U.S.C. 290i–290i–10) is amended by adding at the end the following:
1344.
Capital stock increase
(a)
Subscription authorized
(1)
In general
The United States Governor of the Bank may subscribe to 289,391 additional shares of the authorized capital stock of the Bank. (2)
Subject to appropriations
Any subscription under paragraph (1) shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. (b)
Limitations on authorization of appropriations
(1)
In general
For the subscription under subsection (a), there are authorized to be appropriated, without fiscal year limitation, $4,322,228,221 for payment by the Secretary of the Treasury. (2)
Allocation
Of the amount authorized under paragraph (1)— (A)$259,341,759 shall be for paid-in shares of the authorized capital stock of the Bank; and (B)$4,062,886,462 shall be for callable shares of the authorized capital stock of the Bank.
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5.
Capital stock increase for the European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development Act (22 U.S.C. 290l–290l–8) is amended by adding at the end the following: (12)
Capital stock increase
(A)
Subscription authorized
(i)
In general
The United States Governor of the Bank may subscribe on behalf of the United States to not more than 90,044 additional callable shares of the authorized capital stock of the Bank. (ii)
Subject to appropriations
Any subscription under clause (i) shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. (B)
Limitations on authorization of appropriations
For the subscription under subparagraph (A), there are authorized to be appropriated, without fiscal year limitation, $1,252,331,952 for payment by the Secretary of the Treasury for callable shares of the authorized capital stock of the Bank. .
6.
Transparency and accountability
Title XVI of the International Financial Institutions Act (22 U.S.C. 262–262p–12) is amended by adding at the end the following:
1629.
Transparency and accountability
The Secretary of the Treasury shall instruct the United States Executive Director at the International Bank for Reconstruction and Development, the Inter-American Development Bank, the European Bank for Reconstruction and Development, and the African Development Bank to initiate discussions to advocate and promote efforts to— (1)require the government of each country receiving adjustment or budget support loans to demonstrate transparent budgetary processes including budget publication and public scrutiny before loan or grant approval; (2)provide greater public disclosure of loan documents of the respective bank; and (3)use technology to improve multilateral development outcomes by making available to the public data about projects carried out using financing provided by the respective bank and about programs of the respective bank.
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7.
Corruption
Title XVI of the International Financial Institutions Act (22 U.S.C. 262–262p–12) is further amended by adding at the end the following:
1630.
Corruption
The Secretary of the Treasury shall instruct the United States Executive Director at the International Bank for Reconstruction and Development, the Inter-American Development Bank, the European Bank for Reconstruction and Development, and the African Development Bank to initiate discussions in order to advocate and promote efforts to— (1)implement best practices in domestic laws and international conventions against corruption for whistleblower and witness disclosures, and protections against retaliation for internal and lawful public disclosures by the employees of the respective bank and others affected by the operations of the respective bank who challenge illegality or other misconduct that could threaten the mission of the respective bank, including— (A)best practices for legal burdens of proof; (B)access to independent adjudicative bodies; and (C)results which eliminate the effects of proven retaliation; and (2)implement clear anti-corruption procedures setting forth circumstance under which a person will be barred from receiving a loan, contract, grant, guarantee or credit from the respective bank, and make the procedures available to the public.
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8.
Procurement
Title XVI of the International Financial Institutions Act (22 U.S.C. 262–262p–12) is further amended by adding at the end the following:
1631.
Procurement
The Secretary of the Treasury shall instruct the United States Executive Director at the International Bank for Reconstruction and Development, the Inter-American Development Bank, the European Bank for Reconstruction and Development, and the African Development Bank to advocate and promote efforts by the respective bank to maintain strong procurement standards that maintain international competitive bidding for projects funded by the respective bank, to maximize broad United States and international participation in accordance with sound procurement practices, including transparency, broad international competition, established standards and documentation for bidding and bid evaluation, and cost-effective results for the borrowers.
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9.
Argentina
Title XVI of the International Financial Institutions Act (22 U.S.C. 262–262p–12) is further amended by adding at the end the following:
1632.
Argentina
(a)
In general
The Secretary of the Treasury shall instruct the United States Executive Directors at the International Bank for Reconstruction and Development and the Inter-American Development Bank to— (1)oppose any loan to the government of Argentina (other than a loan that serves basic human needs); and (2)to initiate discussions with other executive directors at the respective bank to advocate and vigorously promote efforts to encourage Argentina to normalize relations with its official and private creditors and elsewhere in the international community, including in its dealings with the International Centre for Settlement of Investment Disputes, the Paris Club, the Financial Action Task Force, and the International Monetary Fund, until the Secretary determines and certifies to the Congress that Argentina is normalizing its status in the international community as demonstrated by improved relations with the Financial Action Task Force, the International Monetary Fund, and its official and private creditors, including in the context of compliance with the International Centre for Settlement of Investment Disputes.(b)
Waiver authority
The President may waive the application of subsection (a)(1) if the President determines and reports to Congress that— (1)applying subsection (a)(1) would cause serious harm to the national security of the United States; or (2)it is in the vital economic interests of the United States to do so.
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