Multilateral Development Banks: U.S. Contributions FY2000-FY2020

Order Code RS20792 Updated February 14, 2002 CRS Report for Congress Received through the CRS WebAugust 8, 2008 Multilateral Development Banks: U.S. Contributions FY1990-2002FY1998-2009 Jonathan E. Sanford Specialist in International Political EconomyTrade and Finance Foreign Affairs, Defense, and Trade Division Summary This report shows in tabular form how much the executive branchAdministration requested and how how much Congress appropriated during the past 1311 years for U.S. payments to the multilateral development banks (MDBs). It also provides a brief description of the MDBs and the ways they financefund their operations. It will be updated periodically. Three companion reports provide further information on the MDBs. See CRS Report RS20793, Multilateral Development Banks: Basic Background, CRS Report RS20791, Multilateral Development Banks: Procedures for U.S. Participation, and CRS Report RS20413, IMF and World Bank: U.S. Contributions and Agency Budgets.. For current funding information, see CRS Issue Brief IB96008, Multilateral Development Banks: Issues for the 107th CongressRS22134 International Financial Institutions: Funding U.S. Participation. For further information, see CRS Report RL33969, The World Bank’s International Development Association, and CRS Report RS21437, The Asian Development Bank. U.S. Participation in the MDBs The United States is a member of five MDBs: the World Bank, African Development Bank (AFDB Development Bank (AfDB), Asian Development Bank (ADBAsDB), European Bank for Reconstruction and Development (EBRD), and Inter-American Development Bank (IDB). It also belongs to two similar organizations, the North American Development Bank (NADB (NADBank) and the International Fund for Agricultural Development (IFAD). The latter two agencies are not discussed in this reportFor FY2009, the Administration is proposing that the United States participate in a new World Bank program, the International Clean Technology Fund. The MDBs and Their Programs The MDBs have similar programs, though they all differ somewhat in their institutional structure and emphasis. Each has a president and executive board that manages or supervises all their programs and operations. Except for the EBRD, which makes only market-based loans, all the MDBs make both market-based loans to middleincome developing countries and concessional loans to the poorest countries. Their loans are made to governments or to organizations having government repayment guarantees. In each MDB, the same staff prepares both the market-based and the concessional loans, Congressional Research Service ˜ The Library of Congress CRS-2 using the same standards and procedures for both.1 The main differences between them are the repayment terms and the countries which qualify for them.2 The MDBs also have more specialized facilities which have their own operating staff and and management but report to the bank’s president and executive board. The World Bank’s International Finance Corporation (IFC) and the IDB’s Inter-American Investment Corporation (IIC) make loans to or equity investments in private sector firms in developing countries (on commercial terms) without government repayment guarantees. The ADBAsDB makes similar loans from its market-rate loan account. The World Bank’s Multilateral Investment Guarantee Agency (MIGA) underwrites private investments in developing countries (on commercial terms) to protect against non-economic risk. The Global Environment Facility (GEF) funds project dealing with international environmental problems. TheAt the IDB, the Multilateral Investment Fund (MIF) helps Latin American countries institute institute policy reforms aimed at stimulating domestic and international investment. It also funds funds worker retraining and programs for small- and micro-enterprises. The MIF originated originated as part of President Bush’s 1990 Enterprise for the Americas Initiative (EAI.) The NADBank was created by the North American Free Trade Agreement (NAFTA) to fund environmental infrastructure projects in the U.S.-Mexico border region. The International Fund for Agricultural Development, created in 1977, focuses on reducing poverty and hunger in poor countries through agricultural development. The Global Environment Facility (GEF) funds projects dealing with international environmental problems. The GEF’s assistance program is managed by the World Bank. Funding MDB Assistance Programs The MDBs' concessional aid programs are funded Funding MDB Assistance Programs The MDBs' concessional loans are financed primarily with money donated by their wealthier member country governments. Loans from the MDBs’ market-rate loan facilities are funded with money borrowed in world capital markets. The IFC and IIC The IFC and IIC fund their loans and equity investments partly with money contributed by their member countries members and partly with funds borrowed from commercial capital markets. Loans from the MDBs' market-rate loan facilities are financed mainly with money borrowed in world capital markets. The member countries provide a The MDBs’ borrowings are backed by the subscription s of their member countries. They provide a small part of their capital subscriptions (3 to 5 percent of the total for most MDBs) in the form of paid-in capital. The rest they subscribe as callable capital. This is a kind of guarantee backing. It is a Callable capital is a contingent liability, payable only if an MDB becomes bankrupt and lacks sufficient funds to repay its own creditors. Callable capital It cannot be called byto provide the banks to provide them with additional loan funds. Generally, a country’s voting share is directly related to the size of its contribution funds. Countries’ voting shares are determined mainly by the size of their contributions. The United States is the largest stockholder in most MDBs. Japan has provided more to the Asian Fund and African Fund, while two African countries have subscribed larger shares in the African Bank. Periodically, as the stock of uncommitted funds for an MDB program begins to run low, the major contributors negotiate a new funding plan that specifies their new contribution shares. Table 1 shows the U.S. contribution share and voting share for all MDB programs. In most banks, countries get a few votes because they are members, regardless of the size of their capital subscription. Thus, for banks with a large number of small members, theAsDF and AfDF, while Nigeria and Egypt have subscribed larger shares in the AfDB. 1 The International Development Association (IDA) is the World Bank’s concessional loan affiliate. The Asian Development Fund (ADFAsDF), African Development Fund (AFDF), and Fund for Special Operations (FSO) are the comparable programs at the ADB, AFDBAsDB, AfDB, and IDB. 2 MDB market-based loans cost about ½ of 1%a little more than the rate the banks pay to borrow funds commercially. Repayment periods vary from 15 to 25 years. IDA and AFDF charge about 3/4 of 1% annually. The IDB charges 1% to 4% annually, (depending on the project and the borrower’s level of development.) Repayment periods may vary from 30 to 50 years. Most borrowers from the concessional concessional programs have per capita incomes of less (often much less) than $900 annually. CRS-3 Periodically, as the stock of uncommitted MDB funds begins to run low, the major donors negotiate a new funding plan that specifies their new contribution shares. Table 1 shows the U.S. contribution share and voting share for all MDB programs. In most banks, countries get a few votes because they are members, regardless of the size of their capital subscription. Thus, for banks with a large number of small members, the voting share of large subscribers such as the United States may be a little smaller than their their share in providing the bank’s resources. Voting shares are the same for both market-based marketbased and concessional loans in the ADBAsDB and IDB. Table 1. U.S. Contribution and Voting Shares in the MDBs Contribution /SubscriptionShare World Bank Group IBRD IDA IFC MIGA 17.8% 23.9% 22.8% 21.0% 16.5% 14.9% 23.8% 16.2% Asian Development Bank ADB 16.1% ADF 12.6% 13.1% 13.1% 10.1% 9.8% EBRD Contribution /Subscription Voting Voting Inter-American Dev Bank 30.3% 30.3% IDB 46.8% 30.3% FSO 25.5% 25.1% IIC MIF 35.3% African Development Bank AFDB 5.7% AFDF 13.3% 29.1% 5.3% 6.2Voting Share Contribution Share Voting Share 16.8% 22.1% 24.1% 18.9% 16.4% 12.9% 23.6% 15.1% Inter-American Dev Bank IDB 30.3% FSO 50.5% IIC 25.5% MIF 39.4% Asian Development Bank AsDB 15.6% AsDF 12.6% 12.8% 12.8% African Development Bank AfDB 6.4% 6.4% AfDF 12.7% 6.1% 10.1% 50.0% 9.8% 50.0% EBRD NADBank IFAD 13.6% 30.0% 30.0% 25.1% 29.1% 13.6% In IDA, by contrast, the donors have separated the issues of voting power and contributions. In recent decades, they have chosen not to receive more IDA votes in return return for their contributions. Thus, while the United States, Canada, Japan, the countries of the European Union, and the wealthy Arab oil states have donated 99% of IDA’s resources, they have 65% of the vote. This is more than enough to protect their interests, however, as decisions are reached by majority vote. The arrangement diffuses possible tensions by giving the developing countries a sense that their voices are heard. In the past two IDA replenishments, the United States has provided about 20% of the new funds. Before 1976, the United States was the only significant contributor to the IDB’s Fund for Special Operations, and the FSO was the largest loan program at the Inter-American Bank. Japan, Canada, the Europeans, and other non Before 1976, the United States was the only significant contributor to the IDB’s Fund for Special Operations. Non-regional countries have since joined the IDB and the FSO has become a much smaller program. In the last FSO replenishment, the United States agreed to provide 8% of the new resources. The African Development and he U.S. share has declined substantially. The African Development Bank controls 50% of the vote in the AFDF, though it has contributed only about 1% of the concessional loan program’s resources. This maintains a semblance of African control. The interests of the donors are protected by the fact that a three-quarters majority is required to approve AFDF loans. U.S. Appropriations for MDBs Table 2 shows the amounts of money the Administration has requested and Congress has has appropriated (budget authority) annually since FY1990FY1998 for U.S. contributions and subscriptions to the multilateral banks. The numbers in parentheses are subscriptions to MDB callable capital. Since 1981, the United States no longer appropriates money to back its callable capital subscriptions to the MDBs. Rather, Congress includes language in the annualsets annual program ceilings in the Foreign Operations Appropriations Acts establishing program ceilings for the Act specifying the amount of new callable capital the United States may subscribe in each MDB during the current fiscal year. CRS-4 U.S. Contributions or Subscriptions to Multilateral Development Banks, Millions of U.S. Dollars 1998 a Request WORLD BANK GROUP Int'l Bank for Reconstruction & DevelopDevelopment (IBRD) --IBRD capital, paid in –(IBRD capital, callable) Int'l Development Association (IDA) Int'l Finance Corporation (IFC) Multilateral Investment Guarantee Agency (MIGA) --MIGA paid in capital --(MIGA capital, callable) Global Environmental Facility (GEF) ASIAN DEVELOPMENT BANK --ADBAsDB ordinary capital, paid in --(ADBAsDB ordinary capital, callable) Asian Development Fund (ADFAsDF) AFRICAN DEVELOPMENT BANK --AFDBAfDB ordinary capital, paid in --(AFDBAfDB ordinary capital, callable) African Development Fund (AFDFAfDF) INTER-AMERICAN DEVELOPMENT BANK --IDB ordinary capital, paid in --(IDB ordinary capital, callable) Fund for Special Operations (FSO) Inter-American Investment Corp (IIC) Multilateral Investment Fund (MIF) EUROPEAN BANK FOR RECON & DEVELOP --EBRD paid in capital --(EBRD capital, callable) (Includes Recisions) 1998 1999 1999 Approp Request 2000 Approp. 2000 Request Approp. 2001 2001 Request Approp -.-.1,034.5 -.- -.-.1,034.5 -.- -.-.800.0 -.- -.-.800.0 -.- -.-.803.4 -.- -.- -.- -.- 775.0 -.- 836.0 -.- 775.0 -.- -.-.100.0 -.-.47.5 -.-.300.0 -.-.168.0 10.0 (50.0) 143.3 4.0 (20.0) 35.8 16.0 (80.0) 176.0 10.0 (50.0) 108.0 13.2 (647.9) 150.0 13.2 (647.9) 150.0 13.2 (647.9) 250.0 13.2 (647.9) 210.0 13.7 (672.7) 177.0 13.7 (672.7) 77.0 -.-.125.0 -.-.72.0 -.-.50.0 -.-.45.0 -.-.155.0 -.-.128.0 5.1 (80.0) 127.0 4.1 (64.0) 128.0 6.1 (64.0) 100.0 6.1 (64.0) 100.0 25.6 (1,503.7 20.8 -.30.0 25.6 (1,503.7)) 20.8 -.30.0 25.6 (1,503.7) 21.2 -.50.0 25.6 (1,503.7) 21.2 -.50.0 25.6 (1,503.7 -.25.0 28.5 25.6 (1,503.7) -.-.- -.-.- 16.0 -.- 34.0 25.9 25.0 10.0 35.8 (123.2) 35.8 (123.2) 35.8 (123.2) 35.8 (123.2) 35.8 (123.2) 35.8 (123.2) 35.8 (123.3) 35.8 (123.3) -.- 5.0 INTL FUND FOR AGRICULTURAL DEVELOP NORTH AMERICAN DEVELOPMENT BANK --NADBank capital, paid-in --(NADBank capital, callable) 56.3 (318.8) 56.3 (318.8) -.-.- -.-.- -.-.- -.-.- -.-.- TOTAL MDB APPROPRIATION 1,459.9 1,394.8 1,650.8 1,451.3 1,494.4 1,115.0 1,434.8 -.-.1,146.9 SOURCE: Derived from the annual appropriation legislation and Treasury Department budget presentation documents. Figures in parentheses are callable capital, which is not actually appropriated. (See text.) Dashes show that no U.S. contribution or subscription was requested and/or approved by Congress that year. CRS-5 2002 Request 2002 2003 Approp 2003 2004 Request Approp Request 2004 Approp 2005 Request 2005 Approp WORLD BANK GROUP Int'l Bank for Reconstruction & Development --EBRD paid in capital --(EBRD capital, callable) TOTAL MDB APPROPRIATION 1990 1991 1992 1992 1993 1993 1994 1994 Approp Approp Request Approp Request Approp Request Approp 49.8 (1,609.7) 960.6 74.6 110.6 (2,899.6) 1,031.7a 40.3 70.1 (2,267.4) 1,060.0 40.3 69.1 (2,233..9) 1,044.3 39.7a 70.1 (2,287.4) 1,060.0 50.0 62.2 (2,010.5) 1,024.3 35.8 70.1 (2,287.4) 1,250.0 50.0 29.7b (902.4) 1,024.3 35.8 -.-.*.* -.-.*.* -.-.-.- -.-.-.- -.-.-.- -.-.30.0 -.-.-.- -.-.30.0 -.-.175.0 -.-.126.9 25.5 (187.0) 175.0 -.-.125.0 51.0 (187.0) 144.5 38.0 (278.5) 62.5 13.0 (95.4) 170.0 13.0 (95.4) 62.5 9.5 (134.8) 104.6 10.1 (135.4) 105.5 9.0 (134.8) 135.0 8.9 -.103.9 -.-.135.0 -.-.103.9 -.-.135.0 -.-.103.9 31.5 -.63.5 -.*.* 57.5 (2,235.1) 20.9 13.0 *.* 57.3 (2,235.1) 20.6 12.5 100.0 56.5 (2,202.0) 20.3 8.3 -.- 57.3 (2,235.1) 20.6 -.100.0 56.5 (2,202.0) 20.3 -.90.0 57.3 (2,235.1) 20.6 -.100.0 56.2 (2,190.0) 20.2 -.75.0 *.* *.* *.* *.* 70.0 (163.4) 89.0 (161.0) 70.0 (163.4) 60.0 (140.0) 70.0 (163.4) -.-.- 1,469.1 1,516.5 1,775.3 1,565.0 1,758.5 1,583.4 1,936.0 1,450.6 SOURCE: Derived from the annual appropriation legislation. Figures in parentheses are callable capital, which is not actually appropriated. (See text.) Asterisks show the MDB in question did not exist or the United States was not a member in the year indicated. Dashes show that the MDB did exist but no U.S. contribution or subscription was requested and/or approved by Congress that year. CRS-5 1995 WORLD BANK GROUP Int'l Bank for Reconstruction & Develop --IBRD capital, paid in --(IBRD capital, callable) Int'l Development Association (IDA) Int'l Finance Corporation (IFC) Multilateral Investment Guarantee Agency --MIGA paid in capital --(MIGA capital, callable) Global Environmental Facility (GEF) ASIAN DEVELOPMENT BANK --ADB ordinary capital, paid in --(ordinary capital, callable) Asian Development Fund AFRICAN DEVELOPMENT BANK --AfDB ordinary capital, paid in --(AfDB ordinary capital, callable) African Development Fund (AfDF) 1995 1996 1996 1997 Approp 23.3 (753.0) 1,250.0 88.7 23.0 (750.0) 1,175.0c 68.7 28.2 (911.4) 1,368.2 67.7 28.2 (911.4) 700.0 60.9 -.-.934.5 6.7 -.-.700.0 6.7 -.-.1,034.5 -.- -.-.1,034.5 -.- -.-.110.0 -.-.35.0 -.-.100.0 -.-.35.0 -.-.100.0 -.-.47.5 13.2 13.2 (647.9) 150.0 13.2 (647.9) 100.0 13.2 (647.9) 150.0 13.2 (647.9) 150.0 Approp 170.0 -.(647.9) 168.0 127.2 13.2 (647.9) -.- 0.1 (2.0) 125.7 0.1 (2.0) 69.9c -.-.127.2 -.-.-.- -.-.50.0 -.-.-.- -.-.50.0 -.-.45.0 52.2 (1,614.6) 21.6 -.100.0 28.1 (1,594.6) 21.3 -.75.0 26.0 (1,523.8) 20.8 -.100.0 26.0 (1,523.8) 10.0 -.53.8 25.6 (1,503.7) 31.4 -.27.5 25.6 (1,503.7) 10.0 -.27.5 25.6 (1,503.7) 20.8 -.30.0 25.6 (1,503.7) 20.8 -.30.0 EUROPEAN BANK --EBRD capital, paid in --(EBRD capital, callable) 70.2 (163.4) 69.0 (161.4 81.9 (163.3) 70.0 (27.8) 11.9 (27.8) 11.9 (27.8) 35.8 (123.2) 35.8 (123.2) TOTAL MDB APPROPRIATION 2,001.8 1,697.9 2,070.4 997.1 1,350.8 929.9 1,459.9e 1,394.8 -.-.803.0 -.- -.-.792.4 -.- -.-.874.3 -.- -.-.844.5 -.- -.-.976.8 -.- -.-.913.2 -.- -.-.1061.3 -.- -.-.843.2 -.- 10.0 (50.0) 108.0 5.0 (25.0) 100.5 3.6 (18.0) 177.8 1.6 (8.0) 146.9 4.0 (20.0) 185.0 1.1 (4.5) 139.2 -.-.120.7 -.-.106.6 ASIAN DEVELOPMENT BANK --AsDB ordinary capital, paid in --(ordinary capital, callable) Asian Development Fund (AsDF) -.-.103.0 -.-.98.0 -.-.147.4 -.-.97.2 -.-.151.9 -.-.144.4 -.-.112.2 -.-.99.2 AFRICAN DEVELOPMENT BANK --AfDB ordinary capital, paid in --(AfDB ordinary capital, callable) African Development Fund (AfDF) 5.1 (80.0) 100.0 5.1 (80.) 100.0 5.1 (80.0) 118.1 5.1 (80.0) 107.4 5.1 (80.0) 118.1 5.1 (79.6) 112.7 5.1 (79.5) 118.0 4.1 (79.5) 105.2 -.-.- -.-.- -.-.- -.-.- -.-.- -.-.- -.-.- -.-.- 25.0 -.- 18.0 -.- 30.3 29.6 18.2 24.4 30.9 32.6 -.25.0 -.25.0 -.10.9 35.8 (123.3) 35.8 (123.3) 35.8 (123.3) 35.8 (123.3) 35.4 (123.3) 35.4 (122.0) 35.4 (122.0) 35.2 (122.0) 20.0 20.0 15.0 15.0 15.0 14.9 15.0 15.0 -.-.- -.-.- -.-.- -.-.- -.-.- -.-.- -.-.- 1,230.1 1,194.8 1,492.7 1,288.1 1,534.8 1,386.5 1,492.7 INTER-AMERICAN DEVELOPMENT BANK --IDB ordinary capital, paid in --(IDB ordinary capital, callable) Fund for Special Operations (FSO) Inter-American Investment Corp (IIC) Multilateral Investment Fund (MIF) -.- Request 1998 Request -.-.-.- Approp 1998 Approp -.-.100.0 Request 1997 Request CRS-6 1999 EUROPEAN BANK FOR RECON & DEVELOP --EBRD capital, paid in --(EBRD capital, callable) INTL FUND FOR AGRICULTURAL DEVELOP NORTH AMERICAN DEVELOPMENT BANK --NADBank capital, paid-in --(NADBank capital, callable) TOTAL MDB APPROPRIATION -.-.1,219.4 CRS-6 WORLD BANK GROUP Int'l Bank for Reconstruction & DevelopDevelopment IBRD capital, paid in (IBRD capital, callable) Int'l Development Association (IDA) Int'l Finance Corporation (IFC) Multilateral Investment Guarantee Agency MIGA paid in capital Intl Clean Technology Fund (MIGA capital, callable) Global Environmental Facility (GEF) 2006 2006 2007 Request Approp. Request 2007 2008 2008 Approp. Request Approp 2009 2009 Request Approp -.-.950.0 -.- -.-.909.1 -.- -.-.950.0 -.- -.-.940.5 -.- -.-.1,060.0 -.- -.-.942.3 -.- -.-.1,277.0 -.- 1.7 -.(8.5) 107.5 1.3 -.(6.5) 79.2 -.-.-.80.0 -.-.-.79.2 1.1 -.(5.5) 106.8 -.-.- -.400.0 81.1 80.0 ASIAN DEVELOPMENT BANK AsDB ordinary capital, paid in (ordinary capital, callable) Asian Development Fund (AsDF) -.-.115.3 -.-.99.0 -.-.115.3 -.-.99.0 -.-.133.9 -.-.74.5 -.-.115.3 AFRICAN DEVELOPMENT BANK AfDB ordinary capital, paid in (AfDB ordinary capital, callable) African Development Fund (AfDF) 5.6 (88.3) 135.7 3.6 (88.3) 134.3 5.0 78.6 135.7 3.6 (88.3) 134.3 2.0 -.140.6 2.0 -.- 134.6 156.1 -.-.-.1.7 1.7 -.-.-.1.7 1.7 -.-.-.-.25.0 -.-.-.-.1.7 -.-.-.-.29.2 -.-.-.-.24.8 -.-.-.-.25.0 1 (3.4) 1 (3.4) -.-.- -.-.- -.-.- -.-.- -.-.- 18.0 14.9 18.0 14.9 18.1 17.9 18.0 -.-.- -.-.- -.-.- -.-.- -.-.- -.-.- -.-.- 1,333.4 1,242.4 1,329.0 1,273.2 1,491.7 1,277.2 2,071.4 INTER-AMERICAN DEVELOPMENT BANK IDB ordinary capital, paid in (IDB ordinary capital, callable) Fund for Special Operations (FSO) Inter-American Investment Corp (IIC) Multilateral Invest. Fund (MIF) EUROPEAN BANK FOR RECON & DEVELOP EBRD capital, paid in (EBRD capital, callable) INTL FUND FOR AGRICULTURAL DEVELOP NORTH AMERICAN DEVELOPMENT BANK --NADBank capital, paid-in --(NADBank capital, callable) TOTAL MDB APPROPRIATION NOTES: a(MIGA capital, callable) Global Environmental Facility (GEF) ASIAN DEVELOPMENT BANK ADB ordinary capital, paid in (ordinary capital, callable) Asian Development Fund AFRICAN DEVELOPMENT BANK AFDB ordinary capital, paid in (AFDB ordinary capital, callable) African Development Fund (AFDF) INTER-AMERICAN DEVELOPMENT BANK IDB ordinary capital, paid in (IDB ordinary capital, callable) Fund for Special Operations (FSO) Inter-American Investment Corp Multilateral Invest. Fund (MIF) EUROPEAN BANK EBRD capital, paid in (EBRD capital, callable) TOTAL MDB APPROPRIATION Request 1999 Approp. 2000 Request 2000 Approp. 2001 Request 2001 Approp 2002 Request 2002 Approp -.-.800.0 -.- -.-.800.0 -.- -.-.803.4 -.- -.- -.- -.- -.- -.- 775.0 -.- 836.0 -.- 775.0 -.- 803.0 -.- 792.4 -.- -.-.300.0 -.-.168.0f 10.0 (50.0) 143.3 4.0 (20.0) 35.8 16.0 (80.0) 176.0 10.0 (50.0) 108.0 10.0 (50.0) 108.0 5.0 (25.0) 100.5 13.2 (647.9) 250.0 13.2 (647.9) 210.0 13.7 (672.7) 177.0 13.7 (672.7) 77.0 -.-.125.0 -.-.72.0 -.-.103.0 -.-.98.0 -.-.155.0 -.-.128.0 5.1 (80.0) 127.0 4.1 (64.0) 128.0 6.1 (64.0) 100.0 6.1 (64.0) 100.0 5.1 (80.0) 100.0 5.1 (80.0 100.0 25.6 (1,503.7) 21.2 -.50.0 25.6 (1,503.7) 21.2 -.50.0 25.6 (1,503.7) -.25.0 28.5 25.6 (1,503.7) -.-.- -.-.- -.-.- -.-.- 16.0 -.- 34.0 25.9 25.0 10.0 25.0 -.- 18.0 -.- 35.8 (123.2) 35.8 (123.2) 35.8 (123.2) 35.8 (123.2) 35.8 (123.3) 35.8 (123.3) 35.8 (123.3) 35.8 (123.3) 1,650.8e 1,451.3 1,494.4 1,115.0 1,434.8 1,141.9 1,210.1 1,174.8 NOTES: a. In June 1992, Congress approved legislation (P.L. 102-298) rescinding $32.5 million of the amount previously appropriated for IDA for FY1991 and $4 million appropriated for the IFC for FY1992. The new IDA number is shown. No rescission of IFC funds was possible, however, as the Administration had already committed all the funds. b. The IBRD figure for 1994 includes a $27.9 million recission approved by Congress in 1994 in P.L. 103-211. c. This includes the recission of $60 million for IDA and $62 million for the AFDF passed (P.L. 104-6) in 1995. d. This was appropriated separately in the 1993 NAFTA Act. e. The Administration also requested authority to use $52.5 million and $52.8 million, respectively in FY1998 and FY1999, in the bilateral Economic Support Fund for contribution to the the proposed Middle East and North African Development Bank (MENABANK). Congress did not give it this authority. f. Reduced from $192.5 million by P.L. 106-31.