S.1388 - Middle East and North Africa Transition and Development Act

A bill to support private sector development, employment growth, rule of law, democratic reform, and accountable government in qualified transition countries in the Middle East and North Africa through the authorization of the participation by the United States in the general capital increase of the European Bank for Reconstruction and Development, and for other purposes. view all titles (2)

All Bill Titles

  • Official: A bill to support private sector development, employment growth, rule of law, democratic reform, and accountable government in qualified transition countries in the Middle East and North Africa through the authorization of the participation by the United States in the general capital increase of the European Bank for Reconstruction and Development, and for other purposes. as introduced.
  • Short: Middle East and North Africa Transition and Development Act as introduced.

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Introduced
 
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07/19/11
 
 
 
 
 
 
 

Official Summary

Middle East and North Africa Transition and Development Act - States that it is U.S. policy to: (1) support a democratic transition in the Middle East and North Africa, including Egypt and Tunisia; and (2) increase economic prosperity in that region through financial investment and technica

Official Summary

Middle East and North Africa Transition and Development Act - States that it is U.S. policy to:
(1) support a democratic transition in the Middle East and North Africa, including Egypt and Tunisia; and
(2) increase economic prosperity in that region through financial investment and technical assistance and by utilizing the resources of appropriate multilateral development banks. States that U.S. negotiating objectives to expand the European Bank for Reconstruction and Development's (Bank) resources for countries in the Middle East or North Africa should be to seek:
(1) specified lending criteria for loans or other Bank assistance for countries of activity (countries provided with Bank resources for loans or other assistance), and
(2) establishment of a Bank mechanism to ensure that countries of activity not committed to multiparty democracy and market economics do not benefit from Bank resources. Urges the Secretary of the Treasury to use U.S. influence to:
(1) oppose the approval of a loan or other Bank assistance to a country of activity in the Middle East or North Africa that does not meet specified criteria, and
(2) seek the Bank's adoption of clear standards for the graduation of countries of activity that have substantially achieved required transition objectives. Amends the European Bank for Reconstruction and Development Act to authorize the U.S. Governor of the Bank to subscribe to additional shares of Bank stock. Authorizes appropriations for such purpose. Amends the Millennium Challenge Act of 2003 to:
(1) revise candidate country criteria, and
(2) permit a country that no longer meets the requirements for being a candidate country because of per capita income changes in a fiscal year to maintain such candidate status during such fiscal year and the next three fiscal years.

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