Hunger and Global Security Multilateral Development Bank Act

Summary

Title I: International Bank for Reconstruction and Development and Asian Development Bank - Amends the Bretton Woods Agreements Act to authorize the U.S. Governor of the International Bank for Reconstruction to: (1) vote to increase the authorized capital stock of the Bank; and (2) subscribe to a maximum of 73,010 shares of such stock. Authorizes appropriations to pay for the U.S. subscription to such stock. Authorizes the U.S. Governor of the Bank to subscribe to the callable portion of the U.S. share of increases in capital stock up to a specified maximum amount. Title II: Inter-American Development Bank and Asian Development Bank - Amends the Inter-American Development Bank Act to authorize the U.S. Governor of the Bank to contribute $70,000,000 to the Fund for special operations. Authorizes appropriations for the increase in the U.S. subscription to the Bank's capital stock and for the U.S. contribution to the Fund for Special Operations. Amends the Asian Development Bank Act to authorize the U.S. Governor of the Bank to contribute $66,750,000 to the Asian Development Fund. Authorizes appropriations for such contribution. Title III: Hunger and Global Security - Hunger and Global Security Multilateral Development Bank Act - Amends the Bretton Woods Agreements Act to direct the Secretary of the Treasury to consult with representatives of member countries of specified international development banks to establish guidelines which specify that annual lending by each such institution shall be designed to benefit needy people. Expresses the sense of Congress that at least 50 percent of the annual lending by each such institution should be designed to benefit needy people. Defines needy people as those who are classified as absolutely or relatively poor under the standards adopted by the International Bank for Reconstruction and Development and the International Development Association. Directs the Secretary of the Treasury to report annually to Congress on the progress being made in aiding needy people and on the proportion of the lending by each such institution which benefits needy people. Title IV: Effective Date and Availability of Funds - Sets the effective dates of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 15 May 1981

  Open at official source

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