in the Asian Development Bank and that the United States Executive Director of the Bank shall notify the Bank that a serious review of future United States participation, including any future payments to the Asian Development Fund, would ensure if Taiwan were expelled from the Bank.

SEC. 26.32 (a) The United States Governor of the Bank is authorized to contribute on behalf of the United States $66,750,000 to the Asian Development Fund, a special fund of the Bank: Provided, however, That any commitment to make such contribution shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution to the Asian Development Fund provided for in this section, there is authorized to be appropriated, without fiscal year limitation, $66,750,000 for payment by the Secretary of the Treasury: Provided, however, That no funds may be made available for such contribution for the fiscal year 1982.33

SEC. 27.34 (a)(1) The United States Governor of the Bank is authorized to subscribe on behalf of the United States to one hundred twenty-three thousand three hundred and seventy-five additional shares of the capital stock of the Bank.

(2) Any subscription to the capital stock of the Bank shall be effective only to such extent or in such amounts as are provided in advance in appropriation Acts. 35

(b) In order to pay for the increase in the United States subscription to the Bank provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $1,322,999,476 for payment by the Secretary of the Treasury.

(c) The Congress hereby finds that

(A) the Republic of China (Taiwan) is a charter member in good standing of the Asian Development Bank;

(B) the Republic of China has grown from a borrower to a lender in the Asian Development Bank; and

(C) the Republic of China provides, through its economic success, a model for other nations in Asia.

(2) It is the sense of the Congress that—

(A) Taiwan, Republic of China, should remain a full member of the Asian Development Bank, and that its status within that body should remain unaltered no matter how the issue of the People's Republic of China's application for membership is disposed of;

(B) the President and the Secretary of State should express support of Taiwan, Republic of China, making it clear that the United States will not countenance attempts to expel Taiwan, Republic of China, from the Asian Development Bank; and

32 22 U.S.C. 285w. Sec. 26 was added by sec. 1352(a) of Public Law 97-35 (95 Stat. 744). 33 Sec. 101(b)(1) of the Further Continuing Appropriations Act, 1983, (Public Law 97-377) provided $66.75 million during fiscal year 1983 for this authorization.

34 22 U.S.C. 285y. Sec. 27 was added by sec. 1002 of Public Law 98-181 (97 Stat. 1285).

35 Appropriations for U.S. payments authorized in sec. 27 have been provided in the following amounts and Public Laws: fiscal year 1984-$264.6 million ($13.2 million paid-in capital; $251.4 million callable capital) (Public Law 98-151); fiscal year 1985-$264.6 million ($13.2 million paidin capital; $251.4 million callable capital) (Public Law 98-473); fiscal year 1986-$238.1 million ($11.9 million paid-in capital; $226.2 million callable capital) (Public Law 99-190); fiscal year 1987-$264.6 million ($13.2 million paid-in capital; $251.4 million callable capital) (Public Law 99-591); fiscal year 1988-$291.6 million ($15.1 million paid-in capital; $276.5 million callable capital) (Public Law 100-202).

(C) the Secretary of the Senate and Clerk of the House shall transmit a copy of this resolution to the President with the request that he transmit such copy to the Board of Governors of the Asian Development Bank.

SEC. 28.36 (a)(1) The United States Governor of the Bank is authorized to contribute on behalf of the United States $520,000,000 to the Asian Development Fund, a special fund of the Bank.

(2) Any commitment to make the contribution authorized in paragraph (1) shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution to the Asian Development Fund provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $520,000,000 for payment by the Secretary of the Treasury.3

37

SEC. 29.38 (a) The United States Governor of the Bank is authorized to contribute on behalf of the United States $584,280,000 to the Asian Development Fund, a special fund of the Bank, except that any commitment to make such contributions shall be made subject to obtaining the necessary appropriations.

(b) In order to pay for the United States contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $584,280,000 for payment by the Secretary of the Treasury. 39

36 22 U.S.C. 285z. Sec. 28 was added by sec. 1002 of Public Law 98-181 (97 Stat. 1286). 37 Appropriations for U.S. payments authorized in sec. 28 for the Third Replenishment (ADF IV), have been provided in the following amounts and Public Laws: fiscal year 1984-$97 million (Public Law 98-151); fiscal year 1985-$71.8 million (Public Law 98-473); fiscal year 1985 supplemental-$91.2 million (Public Law 99-88); fiscal year 1986-$100 million (Public Law 99-190); fiscal year 1987-$91.4 million (Public Law 99-591); fiscal year 1988-$28 million (Public Law 100-202); fiscal year 1989-$43 million (Public Law 100-461).

38 Sec. 29, authorizing a Fourth ADF Replenishment (ADF V), was added by sec. 201 of H.R. 3750, as reported by the House Committee on Banking, Finance and Urban Affairs, on December 11, 1987, and enacted into law by reference in Title I of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1988 (sec. 101(e) of the Continuing Appropriations, 1988, Public Law 100-202; 101 Stat. 1329 at 1329-134).

39 Appropriations for U.S. payments authorized in sec. 29 have been provided in the following amounts and Public Laws: fiscal year 1989-$108.4 million (Public Law 100-461); fiscal year 1990-$177.9 million (Public Law 101-167).

(4) African Development Bank Act

Partial text of Public Law 97–35 [H.R. 3982], 95 Stat. 357 at 741, approved August 13, 1981, as amended by Public Law 100-202 [Continuing Appropriations, 1988; H.J. Res. 395], 101 Stat. 1329, approved December 22, 1987; and by Public Law 101-240 [International Development and Finance Act of 1989; H.R. 2494), 103 Stat. 2492, approved December 19, 1989

AN ACT To provide for reconciliation pursuant to section 301 of the first concurrent resolution on the budget for the fiscal year 1982.

TITLE XIII—INTERNATIONAL AFFAIRS

SUBTITLE B-INTERNATIONAL DEVELOPMENT BANKS

PART 3-AFRICAN DEVELOPMENT BANK

SHORT TITLE

SEC. 1331. This part may be cited as the "African Development Bank Act".

ACCEPTANCE OF MEMBERSHIP

SEC. 1332.1 The President is hereby authorized to accept membership for the United States in the African Development Bank (hereinafter in this part referred to as the "Bank") provided for by the agreement establishing the Bank (hereinafter in this part referred to as the "agreement") deposited in the archives of the United Nations.

GOVERNOR AND ALTERNATE GOVERNOR

SEC. 1333.2 (a) The President, by and with the advice and consent of the Senate, shall appoint a Governor and an Alternate Governor of the Bank. The term of office for the Governor and the Alternate Governor shall be five years, subject at any time to termination of appointment or to reappointment. The Governor and Alternate Governor shall remain in office until a successor has been appointed.

(b) No person shall be entitled to receive any salary or other compensation from the United States for services as a Governor or Alternate Governor, except for reasonable expenses to attend meetings of the Board of Governors.

122 U.S.C. 290i.
2 22 U.S.C. 290i-1.

(c) The Governor, or in the Governor's absence the Alternate Governor, on the instructions of the President,3 shall cast the votes of the United States for the Director to represent the United States in the Bank.

DIRECTOR OR ALTERNATE DIRECTOR; ALLOWANCES

SEC. 1334. The Director or Alternate Director representing the United States, if citizens of the United States, may, in the discretion of the President,3 receive such compensation, allowances, and other benefits as, together with those received from the Bank and from the African Development fund, may not exceed those authorized for a chief of mission under the Foreign Service Act of 1980.

APPLICABILITY OF BRETTON WOODS AGREEMENTS ACT

SEC. 1335.5 The provisions of section 4 of the Bretton Woods Agreements Act (22 U.S.C. 286b) shall apply with respect to the Bank to the same extent as with respect to the International Bank for Reconstruction and Development and the International Monetary Fund.

RESTRICTIONS

SEC. 1336.7 (a) Unless authorized by law, neither the President, nor any person or agency, shall, on behalf of the United States(1) subscribe to additional shares of stock of the Bank;

(2) vote for or agree to any amendment of the agreement which increases the obligations of the United States, or which changes the purpose or functions of the Bank; or

(3) make a loan or provide other financing to the Bank, except that funds for technical assistance may be provided to the Bank by a United States agency created pursuant to an Act of Congress which is authorized by law to provide funds to international organizations.

FEDERAL RESERVE BANKS AS DEPOSITORIES

SEC. 1337. Any Federal Reserve bank which is requested to do so by the Bank 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.

3 Sec. 3 of Executive Order 12403 (Feb. 8, 1983; 48 F.R. 6087) delegated this authority vested in the President to the Secretary of the Treasury.

* 22 U.S.C. 290i-2.

5 22 U.S.C. 290i-3.

Sec. 541 of the International Development and Finance Act of 1989 (Public Law 101-240; 103 Stat. 2518) consolidated several reporting requirements into new secs. 1701-1703 and titles XVIII and XIX of the International Financial Institutions Act (beginning at page 187) and repealed duplicative requirements in other legislation. Sec. 541(e) (7) struck out the last sentence of this section which read: "Reports with respect to the Bank under paragraphs (5) and (6) of section 4 of that Act shall be included in the first and subsequent reports made thereunder after the United States accepts membership in the Bank.".

722 U.S.C. 290i-4.

22 U.S.C. 2901-5.

SUBSCRIPTION OF STOCK

SEC. 1338. (a) The President 3 is authorized to agree to subscribe on behalf of the United States to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank: Provided, however, That the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.

(b) There is authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury of the initial United States subscription to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank, $359,733,570: Provided, however, That not more than $17,986,679 of such sum may be available for paid in subscriptions to the Bank for each of the fiscal years 1982, 1983, and 1984.10

(c) Any payment or distributions of moneys from the Bank to the United States shall be covered into the Treasury as a miscellaneous receipt.

JURISDICTION OF UNITED STATES COURTS

SEC. 1339.11 For the purposes of any civil action which may be brought within the United States, its territories or possessions, or the Commonwealth of Puerto Rico, by or against the Bank in accordance with the agreement, the Bank shall be deemed to be an inhabitant of the Federal judicial district in which its principal office within the United States or its agent appointed for the purpose of accepting service or notice of service is located, and any such action to which the Bank shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States, including the courts enumerated in section 460 of title 28, United States Code, shall have original jurisdiction of any such action. When the Bank is defendant in any action in a State court, it may at any time before the trial thereof remove the action into the appropriate district court of the United States by following the procedure for removal provided in section 1446 of title 28, United States Code.

EFFECTIVENESS OF AGREEMENT

SEC. 1340.12 Paragraph 5 of article 49, articles 50 through 59, and the other provisions of the agreement shall have full force and effect in the United States, its territories and possessions, and the Commonwealth of Puerto Rico, upon acceptance of membership by the United States in the Bank. The President, at the time of depos

22 U.S.C. 290i-6.

10 Appropriations for U.S. payments authorized in sec. 1338 have been provided in the following amounts and Public Laws: fiscal year 1981-$72 million ($18 million paid-in capital; $54 million callable capital) (Public Law 97-12); fiscal year 1982-$0; fiscal year 1983-$0; fiscal year 1984-$72 million ($18 million paid-in capital; $54 million callable capital) (Public Law 98-151); fiscal year 1985-$72 million ($18 million paid-in capital; $54 million callable capital) (Public Law 98-473); fiscal year 1986-$64.8 million ($16.2 million paid-in capital; $48.6 million callable capital) (Public Law 99-190); fiscal year 1987-$55.9 million ($13.9 million paid-in capital; $41.9 million callable capital) (Public Law 99-591); fiscal year 1987 supplemental-$23.9 million ($6.5 million paid-in capital; $17.4 million callable capital) (Public Law 100-71).

11 22 U.S.C. 2901-7.

12 22 U.S.C. 290i-8.