H.R. 6892: To authorize the Secretary of the Treasury to subscribe to additional shares of the capital stock of the Inter-American Investment Corporation.

This bill, identified as H.R. 6892, proposes to grant the Secretary of the Treasury the authority to subscribe on behalf of the United States for up to 25,124 additional shares of capital stock in the Inter-American Investment Corporation (IIC). The legislation aims to enhance U.S. involvement in this financial institution, which primarily supports economic development in Latin America and the Caribbean by providing financing and other support to promote private sector growth.

Key Provisions of the Bill

• Subscription Authorization: The bill allows the Secretary of the Treasury to subscribe to additional shares, which represents the U.S. financial commitment to the IIC.
• Limitation on Subscription: The subscription for the additional shares can only happen to the extent that funding is available through appropriations Acts. This means that the U.S. government must allocate funds in advance for this purpose.

Purpose of the Inter-American Investment Corporation

The IIC is part of a regional development bank that focuses on supporting the private sector in Latin America and the Caribbean by providing loans, equity investments, and guarantees to stimulate business growth and create jobs. By subscribing to additional shares, the United States aims to reinforce its commitment to economic development in the region, potentially influencing positive changes in trade and investment relations.

Overall Impacts

By increasing its investment in the IIC, the U.S. may enhance its diplomatic and economic ties with countries in Latin America and the Caribbean. This action can lead to increased collaboration in various sectors, including infrastructure, technology, and sustainable development initiatives.

Relevant Companies

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