22 U.S.C. § 290g–21 — Multilateral debt relief
submitted 15 years ago by Pub. L. 94-302 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 168 words · no verdicts yet
The Treasury Secretary may contribute up to $60 million to the African Development Fund for debt relief tied to the twelfth replenishment. Congress must first appropriate the money.
(a) Authorization of contribution: The Secretary of the Treasury is authorized to contribute, on behalf of the United States, up to $60,000,000 to the African Development Fund, to fund debt relief costs under the Multilateral Debt Relief Initiative incurred during the period covered by the Fund's twelfth replenishment of resources — subject to obtaining the necessary appropriations, and without disturbing any funding arrangements already in place as of December 23, 2011.
(b) Appropriations: In order to pay for this contribution, Congress may appropriate up to $60,000,000, with no fiscal-year limit, for payment by the Secretary of the Treasury.
(c) Multilateral Debt Relief Initiative: In this section, that term means the debt-relief proposal set out in the G8 Finance Ministers' Communiqué titled "Conclusions on Development," made in London on June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.
The Secretary of the Treasury is authorized to contribute, on behalf of the United States, not more than $60,000,000 to the African Development Fund for the purpose of funding debt relief costs under the Multilateral Debt Relief Initiative incurred in the period governed by the twelfth replenishment of resources of the African Development Fund, subject to obtaining the necessary appropriations and without prejudice to any funding arrangements in existence on December 23, 2011.
In order to pay for the United States contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, not more than $60,000,000 for payment by the Secretary of the Treasury.
In this section, the term “Multilateral Debt Relief Initiative” means the proposal set out in the G8 Finance Ministers’ Communiqué entitled “Conclusions on Development”, done at London, June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.
Source credit: (Pub. L. 94–302, title II, § 222, as added Pub. L. 112–74, div. I, title VII, § 7083(b), Dec. 23, 2011, 125 Stat. 1263.)
- 2011Enacted · Pub. L. 94-302 · 125 Stat. 1263
A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-302 on 2011-12-23.
all 0 arguments · sorted by: best
no arguments yet — make the first case