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Multilateral Development Banks: Current Authorization Requests, May 3, 2005 1 (May 3, 2005)

handle is hein.tera/crser0023 and id is 1 raw text is: Order Code RS22133 May 3, 2005 CRS Report for Congress Received through the CRS Web Multilateral Development Banks: Current Authorization Requests Jonathan E. Sanford Specialist in International Political Economy Foreign Affairs, Defense and Trade Division Summary The Administration has asked Congress to authorize U.S. participation in three new funding plans for multilateral development bank (MDB) concessional aid programs. In total, the three plans would authorize the appropriation of $1.2 billion annually for these programs, a small increase in the amount currently authorized for these programs. The Administration states that it has been very successful in its efforts to promote policy reform or procedural change in the MDBs. This report will be updated as the status of the legislation changes in Congress. Pending Authorization Requests Three Authorization Proposals In April 2005, the Administration asked Congress to authorize U.S. participation in replenishment agreements for three concessional MDB aid programs: the International Development Association (IDA), the Asian Development Fund (AsDF), and the African Development Fund (AfDF). IDA is the largest of these programs. The Administration proposes that Congress should authorize and appropriate $2.85 billion over three years (fiscal 2006-7-8) for this purpose. Concessional MDB programs make grants and low- cost loans to the banks' poorest borrower countries.' The World Bank's executive board approved the IDA 14 funding plan and submitted it to member country governments on March 10, 2005. By April 18, enough countries had 1 Several CRS reports are relevant to this topic. See Multilateral Development Banks. Basic Background, CRS Report RS2079 1; Multilateral Development Banks: Procedures for US. Participation, CRS Report RS20793, and The World Bank's International Development Association's 14'h Replenishment (2006-2008), CRS Report RS22092. Congressional Research Service oe The Library of Congress

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