Pub. L. 116-136, div. B, tit. XI, sec. 21012 (as amended)

SEC. 21012. (a) Purposes. For purposes of strengthening the ability of foreign countries to prevent, prepare for, and respond to coronavirus and to the adverse economic impacts of coronavirus, in a manner that would protect the United States from the spread of coronavirus and mitigate an international economic crisis resulting from coronavirus that may pose a significant risk to the economy of the United States, each paragraph of subsection (b) shall take effect upon enactment of this Act. (b) Coronavirus Responses. (1) International development association replenishment. The International Development Association Act (22 U.S.C. 284 et seq.) is amended by adding at the end the following new section: “SEC. 31. NINETEENTH REPLENISHMENT “(a) In General. The United States Governor of the International Development Association is authorized to contribute on behalf of the United States $3,004,200,000 to the nineteenth replenishment of the resources of the Association, subject to obtaining the necessary appropriations. “(b) Authorization of 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, $3,004,200,000 for payment by the Secretary of the Treasury.” . (2) International finance corporation authorization. The International Finance Corporation Act (22 U.S.C. 282 et seq.) is amended by adding at the end the following new section: “SEC. 18. CAPITAL INCREASES AND AMENDMENT TO THE ARTICLES OF AGREEMENT “(a) Votes Authorized. The United States Governor of the Corporation is authorized to vote in favor of— “(1) a resolution to increase the authorized capital stock of the Corporation by 16,999,998 shares, to implement the conversion of a portion of the retained earnings of the Corporation into paid-in capital, which will result in the United States being issued an additional 3,771,899 shares of capital stock, without any cash contribution; “(2) a resolution to increase the authorized capital stock of the Corporation on a general basis by 4,579,995 shares; and “(3) a resolution to increase the authorized capital stock of the Corporation on a selective basis by 919,998 shares. “(b) Amendment of the Articles of Agreement. The United States Governor of the Corporation is authorized to agree to and accept an amendment to article II, section 2(c)(ii) of the Articles of Agreement of the Corporation that would increase the vote by which the Board of Governors of the Corporation may increase the capital stock of the Corporation from a four-fifths majority to an eighty-five percent majority.” . (3) African development bank. The African Development Bank Act (22 U.S.C. 290i et seq.) is amended by adding at the end the following new section: “SEC. 1345. 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.” . (4) African development fund. The African Development Fund Act (22 U.S.C. 290g et seq.) is amended by adding at the end the following new section: “SEC. 226. FIFTEENTH REPLENISHMENT “(a) In General. The United States Governor of the Fund is authorized to contribute on behalf of the United States $513,900,000 to the fifteenth replenishment of the resources of the Fund, subject to obtaining the necessary appropriations. “(b) Authorization of 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, $513,900,000 for payment by the Secretary of the Treasury.” . (5) International monetary fund authorization for new arrangements to borrow. (A) In general. Section 17 of the Bretton Woods Agreements Act (22 U.S.C. 286e-2) is amended— (i) in subsection (a)— (I) by redesignating paragraphs (3), (4), and (5) as paragraphs (4), (5), and (6), respectively; (II) by inserting after paragraph (2) the following new paragraph: “(3) In order to carry out the purposes of a one-time decision of the Executive Directors of the International Monetary Fund (the Fund) to expand the resources of the New Arrangements to Borrow, established pursuant to the decision of January 27, 1997, referred to in paragraph (1), the Secretary of the Treasury is authorized to make loans, in an amount not to exceed the dollar equivalent of 28,202,470,000 of Special Drawing Rights, in addition to any amounts previously authorized under this section, except that prior to activation of the New Arrangements to Borrow, the Secretary of the Treasury shall report to Congress whether supplementary resources are needed to forestall or cope with an impairment of the international monetary system and whether the Fund has fully explored other means of funding to the Fund.” ; (III) in paragraph (5), as so redesignated, by striking “paragraph (3)” and inserting “paragraph (4)”; and (IV) in paragraph (6), as so redesignated, by striking “December 16, 2022” and inserting “December 31, 2025”; and (ii) in subsection (e)(1) by striking “(a)(2),” each place such term appears and inserting “(a)(2), (a)(3),”. (B) Emergency designation. The amount provided by this paragraph is designated by the Congress as being for an emergency requirement pursuant to section 251(b)(2)(A)(i) of the Balanced Budget and Emergency Deficit Control Act of 1985.