To require the Secretary of the Treasury to direct the United States Executive Director at the Inter-American Development Bank to use the voice, vote, and influence of the United States to urge the immediate resumption of lending to Haiti.

March 5, 2003

Ms. WATERS (for herself, Mr. CONYERS, Ms. LEE, Mr. JACKSON of Illinois, Mr. OWENS, Ms. CORRINE BROWN of Florida, Mr. RUSH, and Mr. MEEK of Florida) introduced the following bill; which was referred to the Committee on Financial Services

To require the Secretary of the Treasury to direct the United States Executive Director at the Inter-American Development Bank to use the voice, vote, and influence of the United States to urge the immediate resumption of lending to Haiti.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Access to Capital for Haiti's Development Act'.

SEC. 2. FINDINGS.

The Congress finds as follows:

(1) Haiti is being denied access to funding for development projects from international financial institutions.

(2) The Inter-American Development Bank has approved $145,900,000 in loans to Haiti, including $50,000,000 for rural road development, $22,500,000 for reorganization of the health sector, $54,000,000 for potable water and sanitation and $19,400,000 million for basic education programs. However, the Inter-American Development Bank has failed to disburse these loans.

(3) Haiti could have access to an additional $317,000,000 in new Inter-American Development Bank loans for development programs.

(4) Haiti could also have access to a $50,000,000 Inter-American Development Bank loan for the investment sector.

(5) The Inter-American Development Bank is refusing to make any loans to Haiti until Haiti pays the arrears on its existing debts.

(6) Haiti cannot afford to pay the arrears on its existing debts.

(7) Haiti has been denied the opportunity to participate in the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative, which provides debt relief to heavily indebted poor countries like Haiti.

(8) Haiti is one of the most impoverished nations in the Western Hemisphere.

(9) Haiti desperately needs debt relief and new financing for development purposes.

SEC. 3. REQUIREMENT THAT UNITED STATES URGE THE INTER-AMERICAN DEVELOPMENT BANK TO RESUME LENDING TO HAITI.

The Secretary of the Treasury shall direct the United States Executive Director at the Inter-American Development Bank to use the voice, vote, and influence of the United States to urge the Inter-American Development Bank to--

(1) immediately resume lending to Haiti, and disburse all loans to Haiti that have been approved by the Inter-American Development Bank; and

(2) assist Haiti with the payment of its arrears, and consider providing debt relief to Haiti.

END