IV
105TH CONGRESS
2D SESSION
H. RES. 475
Recognizing the importance of achieving the goal of the 1997 Microcredit
Summit to provide access to microcredit to 100,000,000 of the world’s
poorest families.
IN THE HOUSE OF REPRESENTATIVES
JUNE 17, 1998
Mr. LUTHER (for himself and Mr. FOX of Pennsylvania) submitted the follow-
ing resolution; which was referred to the Committee on International Re-
lations, and in addition to the Committee on Banking and Financial Serv-
ices, for a period to be subsequently determined by the Speaker, in each
case for consideration of such provisions as fall within the jurisdiction of
the committee concerned
RESOLUTION
Recognizing the importance of achieving the goal of the
1997 Microcredit Summit to provide access to micro-
credit to 100,000,000 of the world’s poorest families.
Whereas 1,300,000,000 people, which is nearly one-fifth of
the population of the world, live in poverty;
Whereas microcredit programs enable poor individuals to
work their way out of poverty with dignity by providing
them with small loans at reasonable interest rates, which
can be used to build an asset base or improve self-em-
ployment opportunities;
•HRES 475 IH
Whereas microcredit programs have operated successfully in
developing countries in Asia, Africa, Latin America, and
Eastern Europe, and in industrialized countries, includ-
ing the United States;
Whereas more than 2,900 individuals from 137 countries at-
tended a global microcredit summit held February 2 to
4, 1997, in Washington, D.C.;
Whereas the 1997 Microcredit Summit recognized that, to be
successful, a strategy to address poverty must include a
broad range of effective initiatives, and that microcredit
is one such initiative;
Whereas at the 1997 Microcredit Summit a poverty measure-
ment discussion group comprised of 600 individuals was
formed, dedicated to finding effective and efficient pov-
erty measurements for different regions of the world;
Whereas the 1997 Microcredit Summit adopted the goal of
providing access to microcredit to 100,000,000 of the
world’s poorest families;
Whereas the 1997 Microcredit Summit began a campaign to
achieve that goal by 2005, with four core themes to pur-
sue that goal;
Whereas the first core theme is to target microcredit pro-
grams toward the poorest of the poor, which is defined
for industrialized countries as all individuals who are
below the poverty line, and for developing countries as
the more impoverished half of individuals who are below
the poverty line;
Whereas the second core theme is to target microcredit pro-
grams toward poor women, who studies have shown to be
very adept at saving, highly creative as entrepreneurs,
and consistent in applying earnings toward improving the
•HRES 475 IH
well-being of their families, but who are more likely than
men to be left out of poverty eradication programs;
Whereas the third core theme is to foster the financial viabil-
ity of institutions that offer microcredit programs; and
Whereas the fourth core theme is to make measurable, posi-
tive impacts on the lives of individuals and families
through microcredit programs: Now, therefore, be it
Resolved, That the House of Representatives—
(1) recognizes the importance of achieving the
goal of the 1997 Microcredit Summit to provide ac-
cess to microcredit to 100,000,000 of the world’s
poorest families;
(2) urges international and regional financial
institutions and other organizations to explore the
use of microcredit programs as a method of eradi-
cating poverty;
(3) encourages appropriate public agencies to
support the goal of the 1997 Microcredit Summit by
developing, announcing, and implementing institu-
tional action plans to achieve that goal;
(4) encourages the President of the United
States to foster international support for the goal of
the 1997 Microcredit Summit in his communications
with leaders of other Nations; and
(5) calls upon the President of the United
States to affirm his commitment to the goal of the
•HRES 475 IH
1997 Microcredit Summit during annual meetings of
the World Bank and International Monetary Fund.
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