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  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Senate Committee on Foreign Relations
    IntroducedMay 1st, 2009

Bill Details

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Title

African Development Fund Replenishment Act of 2009

Official Title

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.

Summary

African Development Fund Replenishment Act of 2009 - Amends the African Development Fund Act to authorize the U.S. Governor of the African Development Fund to contribute to the 11th replenishment of the Fund. Authorizes appropriations. Authorizes the Secretary of the Treasury to contribute to the Fund for the purpose of funding debt relief under the Multilateral Debt Relief Initiative. Authorizes appropriations. Defines "Multilateral Debt Relief Initiative" as 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. Directs the Secretary to: (1) seek to ensure that each multilateral development bank discloses to member countries the bank's operating budget, including expenses for staff, consultants, travel, and facilities; and (2) submit a related report to Congress. Directs the Secretary to: (1) require that the U.S. Executive Director of each multilateral development bank use U.S. influence to ensure that the bank endorses and integrates the principles of the Extractive Industry Transparency Initiative; and (2) submit a related report to Congress. States that: (1) "multilateral development bank" has the meaning given that term in specified provisions of the International Financial Institutions Act; and (2) "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.

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