Microenterprise for Self-Reliance Act of 2000

Summary

Microenterprise for Self-Reliance Act of 2000 - Amends the Foreign Assistance Act of 1961 to set forth congressional findings and policy, including that: (1) the development of microenterprise (including micro- and small enterprises) is a vital factor in the growth of developing countries and in the development of free, open, and equitable international economic systems; (2) it is in the best interest of the United States to assist the development of microenterprises and of enterprises of the poor in developing countries; and (3) the support of microenterprise can be served by programs that provide credit, savings, training, technical assistance, and business development services. Authorizes the President to provide grants and other assistance for programs to increase the availability of credit and other services to microenterprises (including micro- and small enterprises) lacking full access to capital training, technical assistance, and business development services through: (1) grants to microfinance institutions; (2) loans and guarantees to credit institutions (with a limit of $30 million per borrower); (3) grants to microenterprise institutions for training, technical assistance, and business development services; and (4) policy and regulatory programs at the country level. Directs the Administrator of the U.S. Agency for International Development (AID) to establish: (1) a monitoring system that provides, among other things, for performance goals for microenterprise development grant assistance; (2) eligibility criteria for determining which entities shall carry out activities receiving credit assistance; and (3) a U.S. Microfinance Loan Facility to prevent the bankruptcy of microfinance institutions caused by natural disasters, war or civil conflict, national financial crisis, or other short-term financial movements that threaten the long-term development of such institutions. Authorizes appropriations. Directs the President to report to the appropriate congressional committees on the most cost-effective methods and measurements for increasing the access of poor people overseas to credit, other financial services, and related training. Expresses the sense of the Congress that: (1) the administrator of AID and the Secretary of State should seek to support and strengthen the effectiveness of microfinance activities in United Nations (UN) agencies, such as the International Fund for Agricultural Development and the UN Development Program, which have provided key leadership in developing the microenterprise sector; and (2) the Secretary of the Treasury should instruct each U.S. Executive Director of the multilateral development banks to advocate the development of a coherent and coordinated strategy to support the microenterprise sector, including an increase of multilateral resource flows for building microenterprise retail and wholesale intermediaries.

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Documents

3 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 11 July 2000

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 11 July 2000

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• Introduced in Senate

  summary · EN · 11 July 2000

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