Multilateral Development Bank Act of 1983

Summary

Amends the Inter-American Development Bank Act to authorize the U.S. Governor of the Bank to vote for certain pending resolutions which provide for increases in the Bank's authorized capital stock and in the resources of the Fund for Special Operations. Authorizes the U.S. Governor of the Bank to subscribe to 427,396 shares of the increase in the authorized capital stock and to contribute $380,000,000 to the Fund for Special Operations. Authorizes appropriations for such purposes. Declares that it is U.S. policy that no actions concerning personnel of the Inter-American, African, or Asian Development Banks shall be based on the political philosophy or activity of the individual involved. Amends the Asian Development Bank Act to authorize the U.S. Governor of the Bank to subscribe to additional shares of the Bank's capital stock. Authorizes appropriations for such subscription. Authorizes the U.S. Governor to contribute $520,000,000 on behalf of the United States to the Asian Development Fund. Authorizes appropriations for such contribution. Amends the African Development Fund Act to authorize the U.S. Governor of the Funds to contribute $150,000,000 to the Fund. Authorizes appropriations for such contribution. Amends the International Financial Institutions Act to require the Federal Government to advance the cause of human rights by persuading international institutions to send aid to governments other than those governments which engage in a pattern of gross violations of human rights. (Current law refers to sending aid to governments other than those which engage in a "consistent" pattern of gross violations of human rights.) Amends the International Financial Institutions Act to require the Secretary of the Treasury to report to Congress not later than 30 days after the end of each calendar quarter concerning U.S. opposition of any loan, financial or technical assistance for international financial institutions for human rights reasons. Expresses the sense of Congress concerning the role of multilateral development institutions in promoting development abroad. Directs the Secretary of the Treasury to study and report to Congress on how the multilateral development institutions could more actively: (1) encourage foreign direct investment and commercial capital flows; and (2) channel such investment and capital flows to developing countries through a new investment banking facility at one or more of these institutions.

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Documents

2 official files

• Reported to House with amendment(s)

  summary · EN · 16 May 1983

  Open at official source

• Introduced in House

  summary · EN · 28 April 1983

  Open at official source

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