H.R.953 - Social Investment and Economic Development Fund for the Americas Act of 2005109th Congress (2005-2006)
|Sponsor:||Rep. Menendez, Robert [D-NJ-13] (Introduced 02/17/2005)|
|Committees:||House - Financial Services; International Relations|
|Latest Action:||06/29/2005 Forwarded by Subcommittee to Full Committee by Voice Vote.|
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Subject — Policy Area:
- International Affairs
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Summary: H.R.953 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (02/17/2005)
Social Investment and Economic Development Fund for the Americas Act of 2005 - Sets forth the policy of the United States to: (1) promote market-based principles, economic integration, social development, and trade in the Americas; and (2) establish an investment fund for the Western Hemisphere to advance U.S. national interests, improve the lives of the poor, encourage economic growth while protecting the environment, build human capital and knowledge, support democratic institutions and processes, and promote peace and justice in the Americas.
Amends the Foreign Assistance Act of 1961 to require the President, through the United States Agency for International Development (USAID), to provide assistance to reduce poverty and foster increased economic opportunity in the Western Hemisphere by: (1) nurturing public-private partnerships and microenterprise development; (2) improving the quality of life and investing in human capital; (3) strengthening the rule of law through improved efficiency and transparency in government services; and (4) reducing poverty and eliminating the exclusion of marginalized populations. Establishes a project review committee.
Amends the Inter-American Development Bank Act to require the Secretary of the Treasury to urge the Bank to establish an account to be operated consistent with the above guidelines. Establishes a technical review committee.
Expresses the sense of Congress that the Western Hemisphere countries should collectively provide assistance equal to the amount of U.S. bilateral and multilateral assistance.