S 955 ISRS
111th CONGRESS
1st Session
S. 955
To authorize United States participation in, and appropriations for the United States contribution to, the African Development Fund and the Multilateral Debt Relief Initiative, to require budgetary disclosures by multilateral development banks, to encourage multilateral development banks to endorse the principles of the Extractive Industries Transparency Initiative, and for other purposes.
IN THE SENATE OF THE UNITED STATES
May 1, 2009
Mr. KERRY (for himself and, Mr. LUGAR, and Mr. KAUFMAN) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations
July 16, 2009
Reported by Mr. KERRY, without amendment
A BILL
To authorize United States participation in, and appropriations for the United States contribution to, the African Development Fund and the Multilateral Debt Relief Initiative, to require budgetary disclosures by multilateral development banks, to encourage multilateral development banks to endorse the principles of the Extractive Industries Transparency Initiative, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
SEC. 2. AFRICAN DEVELOPMENT FUND.
The African Development Fund Act (22 U.S.C. 290g et seq.) is amended by adding at the end the following:
‘SEC. 219. ELEVENTH REPLENISHMENT.
‘(a) In General- The United States Governor of the Fund is authorized to contribute on behalf of the United States $468,165,000 to the eleventh replenishment of the resources of the Fund, subject to obtaining the necessary appropriations.
‘(b) Authorization of Appropriations- In order to pay for the United States contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $468,165,000 for payment by the Secretary of the Treasury.
‘SEC. 220. MULTILATERAL DEBT RELIEF INITIATIVE.
‘(a) In General- The Secretary of the Treasury is authorized to contribute, on behalf of the United States, not more than $26,000,000 to the African Development Fund for the purpose of funding debt relief under the Multilateral Debt Relief Initiative, subject to obtaining the necessary appropriations and without prejudice to any funding arrangements in existence on the date of the enactment of this section.
‘(b) Authorization of Appropriations- In order to pay for the United States contribution provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, not more than $26,000,000 for payment by the Secretary of the Treasury.
‘(c) Multilateral Debt Relief Initiative Defined- In this section, the term ‘Multilateral Debt Relief Initiative’ means the proposal set out in the G8 Finance Ministers’ Joint Communique entitled ‘Conclusions on Development’, London, June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.’.
SEC. 3. BUDGET DISCLOSURE AND ENDORSEMENT OF EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE BY MULTILATERAL DEVELOPMENT BANKS.
(a) Budgetary Disclosure-
(1) IN GENERAL- The Secretary of the Treasury shall seek to ensure that each multilateral development bank discloses to member countries the operating budget of the bank, including expenses for staff, consultants, travel, and facilities.
(2) REPORT- Not later than December 1, 2009, the Secretary of the Treasury shall submit to Congress a report describing the status of the budget disclosure of each multilateral development bank required by paragraph (1). The report shall contain an assessment of--
(A) the degree to which each such bank has disclosed the budget of the bank; and
(B) how the budget disclosure of each such bank may be improved in order to permit the evaluation of the budget by member countries.
(b) Endorsement of Extractive Industries Transparency Initiative-
(1) IN GENERAL- The Secretary of the Treasury shall direct the United States Executive Director of each multilateral development bank to use the voice and vote of the United States to ensure that the bank--
(A) endorses the principles of the Extractive Industry Transparency Initiative; and
(B) integrates such principles into any project funded by the bank that is related to an extractive industry.
(2) REPORT- Not later than December 1, 2009, the Secretary of the Treasury shall submit to Congress a report--
(A) listing each multilateral development bank that has endorsed the principles of the Extractive Industry Transparency Initiative; and
(B) assessing the extent to which each such bank has integrated such principles into the projects of the bank.
(c) Definitions- In this section:
(1) MULTILATERAL DEVELOPMENT BANK- The term ‘multilateral development bank’ has the meaning given that term in section 1307(g) of the International Financial Institutions Act (22 U.S.C. 262m-7(g)).
(2) PRINCIPLES OF THE EXTRACTIVE INDUSTRY TRANSPARENCY INITIATIVE- The term ‘principles of the Extractive Industry Transparency Initiative’ means the principles contained in the Statement of Principles and Agreed Actions of the Extractive Industries Transparency Initiative, agreed to in London June 17, 2003.
Calendar No. 113
111th CONGRESS
1st Session
S. 955
[Report No. 111-51]
A BILL
To authorize United States participation in, and appropriations for the United States contribution to, the African Development Fund and the Multilateral Debt Relief Initiative, to require budgetary disclosures by multilateral development banks, to encourage multilateral development banks to endorse the principles of the Extractive Industries Transparency Initiative, and for other purposes.
July 16, 2009
Reported without amendment
U.S. Congress - Text of S.955 as Reported in Senate African Development Fund Replenishment Act of 2009
