Us Code § 284y - Multilateral debt relief
Full text of Us Code United States Code § 284y — Multilateral debt relief, with citation guidance and answers to common questions.
§ 284y. Multilateral debt relief
(a) Authorization of contribution
The Secretary of the Treasury is authorized to contribute, on behalf of the United States, not more than $474,000,000 to the International Development Association for the purpose of funding debt relief cost under the Multilateral Debt Relief Initiative incurred in the period governed by the sixteenth replenishment of resources of the International Development Association, subject to obtaining the necessary appropriations and without prejudice to any funding arrangements in existence on December 23, 2011.
(b) Appropriations
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 $474,000,000 for payment by the Secretary of the Treasury.
(c) Multilateral Debt Relief Initiative
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.
(Pub. L. 86–565, §27, as added Pub. L. 112–74, div. I, title VII, §7083(a), Dec. 23, 2011, 125 Stat. 1262.)
About This Section
22 U.S.C. § 284y is part of Title 22 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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