Inter-American Development Bank General Capital Increase Act of 2022

12/30/2022, 12:04 AM

Summary of Bill HR 7726

Bill 117 HR 7726, also known as the Inter-American Development Bank General Capital Increase Act of 2022, is a piece of legislation that aims to increase the general capital of the Inter-American Development Bank (IDB). The IDB is an international financial institution that provides loans and grants to countries in Latin America and the Caribbean to support development projects.

The bill proposes to increase the general capital of the IDB by $80 billion, which would allow the bank to provide more financial assistance to member countries for infrastructure projects, social programs, and other initiatives aimed at promoting economic growth and reducing poverty in the region.

The increase in capital is seen as necessary to meet the growing demand for development financing in Latin America and the Caribbean, as well as to address the economic challenges posed by the COVID-19 pandemic. The bill also includes provisions to ensure that the additional capital is used effectively and transparently, with oversight from the US government and other member countries. Overall, the Inter-American Development Bank General Capital Increase Act of 2022 aims to strengthen the IDB's ability to support sustainable development in the region and promote economic stability and prosperity for all member countries.

Congressional Summary of HR 7726

Inter-American Development Bank General Capital Increase Act of 2022

This bill directs the President to take actions to support a capital increase for the Inter-American Development Bank and authorizes the U.S. governor of the bank to vote in favor of increasing the bank's capital stock.

The bill also requires the Department of the Treasury and U.S. representatives to the bank to support efforts to help countries restructure debts resulting from loans by China's government.

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Current Status of Bill HR 7726

Bill HR 7726 is currently in the status of Bill Introduced since May 11, 2022. Bill HR 7726 was introduced during Congress 117 and was introduced to the House on May 11, 2022.  Bill HR 7726's most recent activity was Referred to the House Committee on Financial Services. as of May 11, 2022

Bipartisan Support of Bill HR 7726

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
0
Republican Cosponsors
2
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7726

Primary Policy Focus

International Affairs

Alternate Title(s) of Bill HR 7726

Inter-American Development Bank General Capital Increase Act of 2022Inter-American Development Bank General Capital Increase Act of 2022To authorize the tenth general capital increase for the Inter-American Development Bank, and for other purposes.
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Comments

Sponsors and Cosponsors of HR 7726

R
Stacey E. Plaskett
Virgin Islands(Democrat)
R
Eric A. "Rick" Crawford
Arkansas(Republican)

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