U.S SUBCOMMITTEE APPROVES DEVELOPMENT BANK FUNDS
A House Banking subcommittee approved
a bill authorizing U.S. contributions to the International
Development Association, the Asian Development Fund and the
Afrian Development Bank.
    The bill authorizes 2.875 billion dlrs as the U.S.
contribution to the eighth replenishment of the International
Development Association, 584.3 mln dlrs to the Asian
Development Fund and 719.5 mln dlrs to buy 59,648 shares of the
capital stock of the African Development Bank.
    The bill, which now goes to the full Banking Committee,
includes an amendment opposing U.S. approval of development
bank loans for commodities in surplus in the world and which
are intended for export.
 Reuter
