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[[Page 1077]]

                                 OF 2000

[[Page 114 STAT. 1078]]

Public Law 106-309
106th Congress

                                 An Act

To establish a program to provide assistance for programs of credit and 
 other financial services for microenterprises in developing countries, 
                             and for other 
            purposes. <<NOTE: Oct. 17, 2000 -  [H.R. 1143]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress <<NOTE: Microenterprise for Self-
Reliance and International Anti-Corruption Act of 2000.>> assembled,

SECTION 1. <<NOTE: 22 USC 2151 note.>> SHORT TITLE.

    This Act may be cited as the ``Microenterprise for Self-Reliance and 
International Anti-Corruption Act of 2000''.


    The table of contents for this Act is as follows:

Sec. 1. Short title.
Sec. 2. Table of contents.


Sec. 101. Short title.
Sec. 102. Findings and declarations of policy.
Sec. 103. Purposes.
Sec. 104. Definitions.
Sec. 105. Microenterprise development grant assistance.
Sec. 106. Micro- and small enterprise development credits.
Sec. 107. United States Microfinance Loan Facility.
Sec. 108. Report relating to future development of microenterprise 
Sec. 109. United States Agency for International Development as global 
           leader and coordinator of bilateral and multilateral 
           microenterprise assistance 
Sec. 110. Sense of the Congress on consideration of Mexico as a key 
           priority in microenterprise funding allocations.


Sec. 201. Short title.
Sec. 202. Findings and purpose.
Sec. 203. Development assistance policy.
Sec. 204. Department of the Treasury technical assistance program for 
           developing countries.
Sec. 205. Authorization of good governance programs.


Sec. 301. Short title.
Sec. 302. Statement of purpose.
Sec. 303. Establishment of grant program for foreign study by American 
           college students of limited financial means.
Sec. 304. Report to Congress.
Sec. 305. Authorization of appropriations.
Sec. 306. Effective date.


Sec. 401. Support for Overseas Cooperative Development Act.
Sec. 402. Funding of certain environmental assistance activities of 

[[Page 114 STAT. 1079]]

Sec. 403. Processing of applications for transportation of humanitarian 
           assistance abroad by the Department of Defense.
Sec. 404. Working capital fund.
Sec. 405. Increase in authorized number of employees and representatives 
           of the United States mission to the United Nations provided 
           living quarters in New York.
Sec. 406. Availability of VOA and Radio Marti multilingual computer 
           readable text and voice recordings.
Sec. 407. Availability of certain materials of the Voice of America.
Sec. 408. Paul D. Coverdell Fellows Program Act of 2000.

   TITLE <<NOTE: Microenterprise for Self-Reliance Act of 2000.>> I--

SEC. 101. <<NOTE: 22 USC 2151 note.>> SHORT TITLE.

    This title may be cited as the ``Microenterprise for Self-Reliance 
Act of 2000''.


    Congress makes the following findings and declarations:
            (1) According to the World Bank, more than 1,200,000,000 
        people in the developing world, or one-fifth of the world's 
        population, subsist on less than $1 a day.
            (2) Over 32,000 of their children die each day from largely 
        preventable malnutrition and disease.
            (3)(A) Women in poverty generally have larger work loads and 
        less access to educational and economic opportunities than their 
        male counterparts.
            (B) Directly aiding the poorest of the poor, especially 
        women, in the developing world has a positive effect not only on 
        family incomes, but also on child nutrition, health and 
        education, as women in particular reinvest income in their 
            (4)(A) The poor in the developing world, particularly women, 
        generally lack stable employment and social safety nets.
            (B) Many turn to self-employment to generate a substantial 
        portion of their livelihood. In Africa, over 80 percent of 
        employment is generated in the informal sector of the self-
        employed poor.
            (C) These poor entrepreneurs are often trapped in poverty 
        because they cannot obtain credit at reasonable rates to build 
        their asset base or expand their otherwise viable self-
        employment activities.
            (D) Many of the poor are forced to pay interest rates as 
        high as 10 percent per day to money lenders.
            (5)(A) The poor are able to expand their incomes and their 
        businesses dramatically when they can access loans at reasonable 
        interest rates.
            (B) Through the development of self-sustaining microfinance 
        programs, poor people themselves can lead the fight against 
        hunger and poverty.
            (6)(A) On February 2-4, 1997, a global Microcredit Summit 
        was held in Washington, District of Columbia, to launch a plan 
        to expand access to credit for self-employment and other 
        financial and business services to 100,000,000 of the world's 
        poorest families, especially the women of those families, by 
        2005. While this scale of outreach may not be achievable in

[[Page 114 STAT. 1080]]

        this short time-period, the realization of this goal could 
        dramatically alter the face of global poverty.
            (B) With an average family size of five, achieving this goal 
        will mean that the benefits of microfinance will thereby reach 
        nearly half of the world's more than 1,000,000,000 absolute poor 
            (7)(A) Nongovernmental organizations, such as those that 
        comprise the Microenterprise Coalition (such as the Grameen Bank 
        (Bangladesh), K-REP (Kenya), and networks such as Accion 
        International, the Foundation for International Community 
        Assistance (FINCA), and the credit union movement) are 
        successful in lending directly to the very poor.
            (B) Microfinance institutions such as BRAC (Bangladesh), 
        BancoSol (Bolivia), SEWA Bank (India), and ACEP (Senegal) are 
        regulated financial institutions that can raise funds directly 
        from the local and international capital markets.
            (8)(A) Microenterprise institutions not only reduce poverty, 
        but also reduce the dependency on foreign assistance.
            (B) Interest income on the credit portfolio is used to pay 
        recurring institutional costs, assuring the long-term 
        sustainability of development assistance.
            (9) Microfinance institutions leverage foreign assistance 
        resources because loans are recycled, generating new benefits to 
        program participants.
            (10)(A) The development of sustainable microfinance 
        institutions that provide credit and training, and mobilize 
        domestic savings, is a critical component to a global strategy 
        of poverty reduction and broad-based economic development.
            (B) In the efforts of the United States to lead the 
        development of a new global financial architecture, 
        microenterprise should play a vital role. The recent shocks to 
        international financial markets demonstrate how the financial 
        sector can shape the destiny of nations. Microfinance can serve 
        as a powerful tool for building a more inclusive financial 
        sector which serves the broad majority of the world's population 
        including the very poor and women and thus generate more social 
        stability and prosperity.
            (C) Over the last two decades, the United States has been a 
        global leader in promoting the global microenterprise sector, 
        primarily through its development assistance programs at the 
        United States Agency for International Development. 
        Additionally, the Department of the Treasury and the Department 
        of State have used their authority to promote microenterprise in 
        the development programs of international financial institutions 
        and the United Nations.
            (11)(A) In 1994, the United States Agency for International 
        Development launched the ``Microenterprise Initiative'' in 
        partnership with the Congress.
            (B) The initiative committed to expanding funding for the 
        microenterprise programs of the Agency, and set a goal that, by 
        the end of fiscal year 1996, one-half of all microenterprise 
        resources would support programs and institutions that provide 
        credit to the poorest, with loans under $300.
            (C) In order to achieve the goal of the microcredit summit, 
        increased investment in microfinance institutions serving the 
        poorest will be critical.

[[Page 114 STAT. 1081]]

            (12) Providing the United States share of the global 
        investment needed to achieve the goal of the microcredit summit 
        will require only a small increase in United States funding for 
        international microcredit programs, with an increased focus on 
        institutions serving the poorest.
            (13)(A) In order to reach tens of millions of the poorest 
        with microcredit, it is crucial to expand and replicate 
        successful microfinance institutions.
            (B) These institutions need assistance in developing their 
        institutional capacity to expand their services and tap 
        commercial sources of capital.
            (14) Nongovernmental organizations have demonstrated 
        competence in developing networks of local microfinance 
        institutions and other assistance delivery mechanisms so that 
        they reach large numbers of the very poor, and achieve financial 
            (15) Recognizing that the United States Agency for 
        International Development has developed very effective 
        partnerships with nongovernmental organizations, and that the 
        Agency will have fewer missions overseas to carry out its work, 
        the Agency should place priority on investing in those 
        nongovernmental network institutions that meet performance 
        criteria through the central funding mechanisms of the Agency.
            (16) By expanding and replicating successful microfinance 
        institutions, it should be possible to create a global 
        infrastructure to provide financial services to the world's 
        poorest families.
            (17)(A) The United States can provide leadership to other 
        bilateral and multilateral development agencies as such agencies 
        expand their support to the microenterprise sector.
            (B) The United States should seek to improve coordination 
        among G-7 countries in the support of the microenterprise sector 
        in order to leverage the investment of the United States with 
        that of other donor nations.
            (18) Through increased support for microenterprise, 
        especially credit for the poorest, the United States can 
        continue to play a leadership role in the global effort to 
        expand financial services and opportunity to 100,000,000 of the 
        poorest families on the planet.

SEC. 103. <<NOTE: 22 USC 2151f note.>> PURPOSES.

    The purposes of this title are--
            (1) to make microenterprise development an important element 
        of United States foreign economic policy and assistance;
            (2) to provide for the continuation and expansion of the 
        commitment of the United States Agency for International 
        Development to the development of microenterprise institutions 
        as outlined in its 1994 Microenterprise Initiative;
            (3) to support and develop the capacity of United States and 
        indigenous nongovernmental organization intermediaries to 
        provide credit, savings, training, technical assistance, and 
        business development services to microentrepreneurs;
            (4) to emphasize financial services and substantially 
        increase the amount of assistance devoted to both financial 
        services and complementary business development services 
        designed to reach the poorest people in developing countries, 
        particularly women; and

[[Page 114 STAT. 1082]]

            (5) to encourage the United States Agency for International 
        Development to coordinate microfinance policy, in consultation 
        with the Department of the Treasury and the Department of State, 
        and to provide global leadership among bilateral and 
        multilateral donors in promoting microenterprise for the poorest 
        of the poor.

SEC. 104. <<NOTE: 22 USC 2151f note.>> DEFINITIONS.

    In this title:
            (1) Business development services.--The term ``business 
        development services'' means support for the growth of 
        microenterprises through training, technical assistance, 
        marketing assistance, improved production technologies, and 
        other services.
            (2) Microenterprise institution.--The term ``microenterprise 
        institution'' means an institution that provides services, 
        including microfinance, training, or business development 
        services, for microentrepreneurs.
            (3) Microfinance institution.--The term ``microfinance 
        institution'' means an institution that directly provides, or 
        works to expand, the availability of credit, savings, and other 
        financial services to microentrepreneurs.
            (4) Practitioner institution.--The term ``practitioner 
        institution'' means any institution that provides services, 
        including microfinance, training, or business development 
        services, for microentrepreneurs, or provides assistance to 
        microenterprise institutions.


    Chapter 1 of part I of the Foreign Assistance Act of 1961 (22 U.S.C. 
2151 et seq.) is amended by adding at the end the following new section:

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