Nepal Recovery Act

openUnited States· United States Congress· EN

Introduced

29 July 2015

Last action

2 February 2016 · Reported

Status

Placed on Senate Legislative Calendar under General Orders. Calendar No. 357.

Summary

Nepal Recovery Act This bill urges the Department of the Treasury to direct the U.S. Executive Director of each international financial institution to advocate in such institution: cancellation of remaining debt obligations of Nepal, including debt obligations incurred after enactment of this Act; provision of debt service relief for all remaining payments of Nepal until the debt can be cancelled; and extension of any new assistance to Nepal primarily as grants rather than loans. Treasury and the Department of State are urged to use all appropriate diplomatic influence to secure the cancellation of Nepal's remaining bilateral debt. Treasury is also urged to support the creation of a World Bank trust fund for Nepal that would leverage potential U.S. contributions and promote bilateral donations to promote transparency, donor coordination, and Nepalese ownership. The U.S. government may establish a Nepal Recovery Private Investment Fund to provide loans, equity investments, and other forms of support to small- and medium-sized private enterprises to: promote Nepal's private sector, particularly small- and medium-sized enterprises; promote and test innovative policies and practices to strengthen Nepal's private sector; enhance domestic engineering, construction, and accounting capacity; advance good governance and transparency in Nepal, particularly within the private sector; create jobs; and foster greater adherence to Nepal's tax code. The U.S. Agency for International Development (USAID) may provide a seed investment to capitalize the funds to be matched or exceeded by investments from private equity firms, as well as private funds raised from other limited investors. The Fund should liquidate its assets and dissolve by April 25, 2030, unless the Department of State determines that it should be extended. USAID may provide accelerated response in Nepal for: project identification and investment analyses; trade capacity building and sector development activities, including technical assistance and feasibility studies that support investments in infrastructure that contribute to overseas development; and trade capacity building and sector development assistance supporting the establishment of industry standards, rules, and market liberalization.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

29 July 2015
Introduced
Read twice and referred to the Committee on Foreign Relations.
Source: IntroReferral
29 July 2015
Introduced
Introduced in Senate
Source: IntroReferral
28 January 2016
Reported
Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
Source: Committee
2 February 2016
Calendars
Placed on Senate Legislative Calendar under General Orders. Calendar No. 357.
Source: Calendars
2 February 2016
Reported
Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
Source: Committee
2 February 2016
Reported
Committee on Foreign Relations. Reported by Senator Corker with an amendment in the nature of a substitute. Without written report.
Source: Committee

Votes

No vote records are attached yet.

Versions

Reported to Senate · 2 February 2016 · Download file
Introduced in Senate · 29 July 2015 · Download file

Documents

6 official files

Reported to Senate (text)

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Reported to Senate (text)
Reported to Senate · EN · 2 February 2016
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Reported to Senate (PDF)
Reported to Senate · EN · 2 February 2016
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Reported to Senate with amendment(s)
summary · EN · 2 February 2016
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Introduced in Senate (text)
Introduced in Senate · EN · 29 July 2015
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Introduced in Senate (PDF)
Introduced in Senate · EN · 29 July 2015
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Introduced in Senate
summary · EN · 29 July 2015
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
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Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to ← Nepal Recovery Act

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/114th-congress/senate-bill/1882
Open data entity: https://api.congress.gov/v3/bill/114/s/1882
us · 114-s-1882 · source updated 3 December 2025