111TH CONGRESS 

2D SESSION S. 2961 

AN ACT 

To provide debt relief to Haiti, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 
2 

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1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Haiti Recovery Act’’. 

3 SEC. 2. DEBT RELIEF FOR HAITI. 

4 (a) IN GENERAL.— 

5 (1) CANCELLATION OF DEBT.—The Secretary 

6 of the Treasury should direct the United States Ex7 ecutive Director to each international financial insti8 tution to advocate in such institution— 

9 (A) the cancellation of any and all remain10 ing debt obligations of Haiti, including debt ob11 ligations incurred before the date of the enact12 ment of this Act; 

13 (B) the provision of debt service relief for 

14 all payments of Haiti remaining on the date of 

15 the enactment of this Act; and 

16 (C) to the extent practicable, the extension 

17 of any new assistance to Haiti be primarily in 

18 the form of grants until February 1, 2012. 

19 (2) INTERNATIONAL FINANCIAL INSTITU20 TION.—The term ‘‘international financial institu21 tion’’ means each of the institutions listed in section 

22 1701(c)(2) of the International Financial Institu23 tions Act (22 U.S.C. 262r(c)(2)) and includes the 

24 International Development Fund for Agricultural 

25 Development. 
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1 (3) SENSE OF THE SENATE.—It is the sense of 

2 the Senate that international financial institutions 

3 should cancel any debt incurred by Haiti after the 

4 date of the enactment of this Act and before Feb5 ruary 1, 2012, so that Haiti can rebuild after the 

6 devastation of the earthquake of January 2010. 

7 (b) USE OF CERTAIN FUNDS FOR POVERTY REDUC8 TION.—The Secretary of the Treasury should instruct the 

9 United States Executive Director of the International 

10 Monetary Fund to advocate the use of some of the realized 

11 windfall profits that exceed the required contribution to 

12 the Poverty Reduction and Growth Trust (as referenced 

13 in the IMF Reforms Financial Facilities for Low-Income 

14 Countries Public Information Notice (PIN) No. 09/94) 

15 from the ongoing sale of 12,965,649 ounces of gold ac16 quired since the second Amendment of the Fund’s Article 

17 of Agreement, to provide debt stock relief, debt service re18 lief, loan subsidies, and grants for Haiti. 

19 (c) SECURING OTHER RELIEF FOR HAITI.—The Sec20 retary of the Treasury and the Secretary of State should 

21 use all appropriate diplomatic influence to secure cancella22 tion of any and all remaining bilateral debt of Haiti. 

23 SEC. 3. INFRASTRUCTURE INVESTMENT. 

24 (a) TRUST FUND.—The Secretary of the Treasury 

25 should support the creation and utilization of a multilat-
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1 eral trust fund for Haiti that would leverage potential 

2 United States contributions and promote bilateral dona3 tions to such a fund for the purpose of making invest4 ments in Haiti’s future, including efforts to combat soil 

5 degradation and promote reforestation and infrastructure 

6 investments such as electric grids, roads, water and sani7 tation facilities, and other critical infrastructure projects. 

8 (b) INCREASE IN TRANSFER OF EARNINGS.—The 

9 Secretary of the Treasury should direct the United States 

10 Executive Director of the Inter-American Development 

11 Bank to seek to increase the transfer of its earnings to 

12 the Fund for Special Operations and to a trust fund or 

13 grant facility for Haiti. 

Passed the Senate March 5, 2010. 

Attest: 

Secretary. 

111TH CONGRESS 

2D SESSION S. 2961 

AN ACT 

To provide debt relief to Haiti, and for other 

purposes.