Publication Date: January 2020
Publisher: Library of Congress. Congressional Research Service
Author(s): Rebecca M. Nelson
Research Area: Banking and finance
This report shows in tabular form how much the Administration requested and how much Congress appropriated for U.S. payments to the multilateral development banks since 2000.
Multilateral development banks provide financial assistance to developing countries in order to promote economic and social development. The United States belongs to several multilateral development banks, including the World Bank and four regional development banks (the African Development Bank, the Asian Development Bank, the Inter-American Development Bank, and the European Bank for Reconstruction and Development). It also belongs to the North American Development Bank, which is a binational (U.S.- Mexico) development bank; the International Fund for Agricultural Development, which focuses on poverty and hunger in developing countries; and several trust funds administered by the World Bank, which focus on specific global issues such as food security and the environment.
The United States appropriates funding on an annual basis to various multilateral development banks and related funds. For FY2020, the Administration requested funding for a capital increase at the World Bank’s non-concessional lending facility (the International Bank for Reconstruction and Development), as well as funding for annual payments to the concessional lending facilities associated with the World Bank, the Asian Development Bank, and the African Development Bank. For FY2020, Congress appropriated these funds, as well as providing funding to the International Fund for Agricultural Development and the Global Environmental Facility (administered by the World Bank) (P.L. 116-94).
The implementing legislation for the United States-Mexico-Canada trade agreement (USMCA) also includes funding for a capital increase at the North American Development Bank. The legislation (H.R. 5430) passed the House and the Senate, and is before the President for his signature.