S.3951 - A bill to authorize United States participation in, and appropriations for, the United States contribution to the ninth replenishment of the resources of the Asian Development Fund and the United States subscription to the fifth general capital increase of the Asian Development Bank.111th Congress (2009-2010)
|Sponsor:||Sen. Kerry, John F. [D-MA] (Introduced 11/17/2010)|
|Committees:||Senate - Foreign Relations|
|Latest Action:||11/17/2010 Read twice and referred to the Committee on Foreign Relations.|
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Subject — Policy Area:
- International Affairs
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Summary: S.3951 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in Senate (11/17/2010)
Amends the Asian Development Bank Act to authorize the United States Governor of the Asian Development Bank to: (1) contribute on behalf of the United States to the ninth replenishment of the resources of the Asian Development Fund; and (2) subscribe on behalf of the United States to additional shares of the capital stock of the Bank.
Directs the Secretary of the Treasury to instruct the U.S. Executive Director of the Asian Development Bank to: (1) advocate for the Bank to encourage best practices in the areas of climate change adaptation, water resource management, aquatic and terrestrial systems management, and food security; and (2) encourage the Bank to enhance its coordination with other multilateral and bilateral assistance programs in the Mekong River Basin to reduce risks to the region's environment, economy, and food security.
States that it is U.S. policy to: (1) support the adoption of policies and practices that ensure conflict sensitivity in lending; (2) discourage multilateral development banks from providing financing for coal-fired power plants unless the bank has provided financing or technical assistance to develop the borrower country's capacity to examine alternatives to coal-fired power; and (3) promote the phasing out of fossil fuel subsidies and provide financial assistance to support deployment of sustainable clean energy in developing countries.