The United States may subscribe to 40,000 more shares of the European Bank
What the document says“The United States Governor of the Bank may subscribe on behalf of the United States up to 40,000 additional shares of the paid-in capital stock of the Bank.”
Section 160 of division A amends section 562(c) of the European Bank for Reconstruction and Development Act by adding a capital increase paragraph. The subscription takes effect only to the extent provided in advance in appropriations Acts, and the new paragraph authorizes $437,457,804, without fiscal year limitation, for the Secretary of the Treasury to pay for it.
What the document actually says“The United States Governor of the Bank may subscribe on behalf of the United States up to 40,000 additional shares of the paid-in capital stock of the Bank.”
The person who speaks for our country at this bank may buy more shares. Up to forty thousand of them.
The bank is owned by many countries. Buying shares raises the money it can lend. Congress still has to hand over the cash first.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.