To provide for the phase-out of existing private sector development enterprise funds for foreign countries and to prohibit the establishment of, or the support for, new private sector development enterprise funds, and for other purposes.

Summary

Prohibits the obligation or expenditure of funds made available to the U.S. Agency for International Development (AID) for assistance to specified private sector development enterprise funds for foreign countries. Prohibits the President from establishing any new private sector development enterprise funds. Prohibits the expenditure of funds appropriated to AID for assistance to any private sector development enterprise fund in which the European Bank for Reconstruction and Development (World Bank) (or any other international financial institution of which the United States is a member) participates, or which is financed by that Bank or institution, including: (1) the Russia Small Business Fund; (2) the Regional Venture Fund for the Lower Volga Region; and (3) the Slovenia Development Capital Fund. Directs the President to instruct the U.S. Executive Director of the World Bank and any other international financial institution of which the United States is a member to use the U.S. vote to oppose participation of the World Bank or institution in, or financing by that Bank or institution of, any private sector development enterprise fund named in this Act.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 March 1996

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• Introduced in House (PDF)

  Introduced in House · EN · 19 March 1996

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• Introduced in House

  summary · EN · 19 March 1996

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