Collapse to view only § 284n. Fifth replenishment; authorization of appropriations
- § 284. Acceptance of membership by United States in International Development Association
- § 284a. Governor, executive director, and alternates of Association
- § 284b. National Advisory Council on International Monetary and Financial Problems
- § 284c. Congressional authorization needed for certain actions
- § 284d. Federal Reserve banks as depositories
- § 284e. Payment of subscription to Association by United States
- § 284f. Jurisdiction and venue of actions
- § 284g. Status, privileges, and immunities of the United States
- § 284h. Second replenishment; authorization of appropriations
- § 284i. Third replenishment; authorization of appropriations
- § 284j. Expropriation of United States property; loan restrictions
- § 284k. Illegal drug traffic; loan restrictions
- § 284l. Fourth replenishment; authorization of appropriations
- § 284m. Repealed.
- § 284n. Fifth replenishment; authorization of appropriations
- § 284o. Sixth replenishment; authorization of appropriations
- § 284p. Seventh replenishment; authorization of appropriations
- § 284q. Special Facility for Sub-Saharan Africa
- § 284r. Eighth replenishment; authorization of appropriations
- § 284s. Ninth replenishment
- § 284t. Thirteenth replenishment
- § 284u. Fourteenth replenishment
- § 284v. Fifteenth replenishment
- § 284w. Multilateral debt relief
- § 284x. Sixteenth replenishment
- § 284y. Multilateral debt relief
- § 284z. Seventeenth replenishment
- § 284aa. Multilateral debt relief
- § 284bb. Eighteenth replenishment
- § 284cc. Nineteenth replenishment
- § 284dd. Twentieth replenishment
The President is hereby authorized to accept membership for the United States in the International Development Association (hereinafter referred to as the “Association”), provided for by the Articles of Agreement (hereinafter referred to as the “Articles”) of the Association deposited in the archives of the International Bank for Reconstruction and Development.
The Governor and Executive Director of the International Bank for Reconstruction and Development, and the alternate for each of them, appointed under section 286a of this title, shall serve as Governor, Executive Director and alternates, respectively, of the Association.
The provisions of section 286b of this title, shall apply with respect to the Association to the same extent as with respect to the International Bank for Reconstruction and Development and the International Monetary Fund.
Unless Congress by law authorizes such action, neither the President nor any person or agency shall, on behalf of the United States, (a) subscribe to additional funds under article III, section 1, of the articles; (b) accept any amendment under article IX of the articles; or (c) make a loan or provide other financing to the Association.
Any Federal Reserve bank which is requested to do so by the Association shall act as its depository or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these functions by the Federal Reserve banks.
For the purpose of any action which may be brought within the United States, its possessions, or the Commonwealth of Puerto Rico, by or against the Association in accordance with the articles, the Association shall be deemed to be an inhabitant of the Federal Judicial district in which its principal office in the United States is located, and any such action at law or in equity to which the Association shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of any such action. When the Association is a defendant in any such action, it may, at any time before the trial thereof, remove such action from a State court into the district court of the United States for the proper district by following the procedure for removal of causes otherwise provided by law.
The provisions of article VII, section 5(d), and article VIII sections 2 to 9, both inclusive, of the articles shall have full force and effect in the United States, its possessions, and the Commonwealth of Puerto Rico, upon acceptance of membership by the United States in, and the establishment of, the Association.
The United States Governor is hereby authorized to agree on behalf of the United States to contribute to the Association three annual installments of $320,000,000 each as recommended in the “Report of the Executive Directors to the Board of Governors on Additions to IDA Resources: Third Replenishment,” dated July 21, 1970. There is hereby authorized to be appropriated, without fiscal year limitation, the amounts necessary for payment by the Secretary of the Treasury of three annual installments of $320,000,000 each for the United States share of the increase in the resources of the Association.
The Secretary of the Treasury shall instruct the United States Executive Directors of the International Bank for Reconstruction and Development and the International Development Association to vote against any loan or other utilization of the funds of the Bank and the Association for the benefit of any country with respect to which the President has made a determination, and so notified the Secretary of the Treasury, that the government of such country has failed to take adequate steps to prevent narcotic drugs and other controlled substances (as defined by the Comprehensive Drug Abuse Prevention and Control Act of 1970 [21 U.S.C. 801 et seq.]) produced or processed, in whole or in part, in such country, or transported through such country, from being sold illegally within the jurisdiction of such country to United States Government personnel or their dependents, or from entering the United States unlawfully. Such instruction shall continue in effect until the President determines, and so notifies the Secretary of the Treasury, that the government of such country has taken adequate steps to prevent such sale or entry of narcotic drugs and other controlled substances.