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U.S. Code as of:
01/19/04
Section 262c. Commitments for United States contributions to international financial institutions fostering economic development in less developed countries; continuation of participation
(a) Congressional findings
It is the sense of the Congress that -
(1) for humanitarian, economic, and political reasons, it is in
the national interest of the United States to assist in fostering
economic development in the less developed countries of this
world;
(2) the development-oriented international financial
institutions have proved themselves capable of playing a
significant role in assisting economic development by providing
to less developed countries access to capital and technical
assistance and soliciting from them maximum self-help and mutual
cooperation;
(3) this has been achieved with minimal risk of financial loss
to contributing countries;
(4) such institutions have proved to be an effective mechanism
for sharing the burden among developed countries of stimulating
economic development in the less developed world; and
(5) although continued United States participation in the
international financial institutions is an important part of
efforts by the United States to assist less developed countries,
more of this burden should be shared by other developed
countries. As a step in that direction, in future negotiations,
the United States should work toward aggregate contributions to
future replenishments to international financial institutions
covered by this Act not to exceed 25 per centum.
(b) Funding commitments to international financial institutions;
availability of funds subject to appropriations
The Congress recognizes that economic development is a long-term
process needing funding commitments to international financial
institutions. It also notes that the availability of funds for the
United States contribution to international financial institutions
is subject to the appropriations process.
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