Seventh capital increase

  1. Law
  2. USC 22
  3. Foreign Relations And Intercourse
  4. INTERNATIONAL BUREAUS, CONGRESSES, ETC.
  5. AFRICAN DEVELOPMENT BANK
  6. Seventh capital increase

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§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 .)


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