II 

111TH CONGRESS 

2D SESSION S. 2961 

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

IN THE SENATE OF THE UNITED STATES 

JANUARY 28, 2010 

Mr. DODD (for himself and Mr. LUGAR) introduced the following bill; which 

was read twice and referred to the Committee on Foreign Relations 

A BILL 

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, 

3 SECTION 1. SHORT TITLE. 

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

5 SEC. 2. DEBT RELIEF FOR HAITI. 

6 (a) IN GENERAL.— 

7 (1) CANCELLATION OF DEBT.—The Secretary 

8 of the Treasury should direct the United States Ex9 ecutive Director to each international financial insti10 tution to advocate in such institution— 

11 (A) the cancellation of any and all remain12 ing debt obligations of Haiti, including debt obVerDate Nov 24 2008 01:59 Jan 29, 2010 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2961.IS S2961

tjames on DSKG8SOYB1PROD with BILLS
2 

•S 2961 IS

1 ligations incurred after the date of the enact2 ment of this Act and before February 1, 2012; 

3 (B) the provision of debt service relief for 

4 all remaining payments of Haiti; and 

5 (C) to the extent practicable, the extension 

6 of any new assistance to Haiti be primarily in 

7 the form of grants, not loans. 

8 (2) INTERNATIONAL FINANCIAL INSTITU9 TION.—The term ‘‘international financial institu10 tion’’ means each of the institutions listed in section 

11 1701(c)(2) of the International Financial Institu12 tions Act (22 U.S.C. 262r(c)(2)) and includes the 

13 International Development Fund for Agricultural 

14 Development. 

15 (b) USE OF CERTAIN FUNDS FOR POVERTY REDUC16 TION.—The Secretary of the Treasury should instruct the 

17 United States Executive Director of the International 

18 Monetary Fund to advocate the use of the proceeds, in 

19 excess of May 2009 projections from the ongoing sale of 

20 12,965,649 ounces of gold acquired since the second 

21 Amendment of the Fund’s Article of Agreement, to pro22 vide debt stock relief, debt service relief, and grants for 

23 low-income countries that are eligible for the Poverty Re24 duction and Growth Facility or any other programs de25 signed to assist low-income countries, including Haiti. 


tjames on DSKG8SOYB1PROD with BILLS
3 

•S 2961 IS

1 (c) SECURING OTHER RELIEF FOR HAITI.—The Sec2 retary of the Treasury and the Secretary of State should 

3 use all appropriate diplomatic influence to secure cancella4 tion of any and all remaining bilateral debt of Haiti. 

5 SEC. 3. INFRASTRUCTURE INVESTMENT. 

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

7 should support the creation and utilization of an Inter8 American Development Bank trust fund for Haiti that 

9 would leverage potential United States contributions and 

10 promote bilateral donations to such a fund for the purpose 

11 of making investments in Haiti’s infrastructure, including 

12 electric grids, roads, water and sanitation facilities, and 

13 other critical infrastructure projects. 

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

15 Secretary of the Treasury should direct the United States 

16 Executive Director of the Inter-American Development 

17 Bank to increase the transfer of its earnings to the Fund 

18 for Special Operations, which finances programming in 

19 Haiti and other weak economies in the Western Hemi20 sphere. 

Æ 


tjames on DSKG8SOYB1PROD with BILLS