Development Bank Reform and Authorization Act of 2005

Bill: 109-s-1129
Sponsor: Sen. Lugar, Richard G. [R-IN]
Introduced: 2005-05-26 in the Senate
Policy area: International Affairs
Subjects: Accounting
Africa (Sub-Saharan)
Auditing
Authorization
Bribery
Canada
Commerce
Compensation (Law)
Conflict of interests
Congress
Congress and foreign policy
Congressional investigations
Congressional reporting requirements
Crime and Law Enforcement
Developed countries
Developing countries
Development credit institutions
East Asia
Economics and Public Finance
Embezzlement
Energy
Energy industries
Europe
Exports
Finance and Financial Sector
Financial disclosure
Fines (Penalties)
Foreign Trade and International Finance
Foreign leaders
France
Fraud
Germany
Government Operations and Politics
Government procurement
Government publicity
International employees
Italy
Japan
Law
Licenses
Mines and mineral resources
Misconduct in office
Performance measurement
Poverty
Prosecution
Public Lands and Natural Resources
Public corruption
Russia
Small business
Summit diplomacy
Sustainable development
United Kingdom
Whistle blowing

Summary:
action_date: 2005-05-26
text: 
Development Bank Reform and Authorization Act of 2005 - Authorizes the Secretary of the Treasury to seek the creation of a pilot program that establishes an Anti-Corruption Trust at the World Bank, whose purposes shall include: (1) assisting poor countries in investigations and prosecutions of fraud and corruption related to a Bank loan, grant, or credit; and (2) determining whether such a pilot program should be carried out at other multilateral development banks. Directs the Secretary to monitor pilot program fund use.
 
Amends the International Financial Institutions Act to direct the Secretary to use U.S. influence to promote goals at multilateral development banks (the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, the World Bank, and their subsidiaries or affiliates) relating to: (1) transparency; (2) financial disclosure; (3) anti-corruption; (4) enhanced auditing; (5) compensation for people negatively affected by bank projects; (6) borrower country qualifications; and (7) resource dependent country revenue transparency.
 
Expresses the sense of Congress in support of the Extractive Industry Transparency Initiative and the 2003 and 2004 G-8 agreements. 
 
Amends the International Development Association Act to authorize the contribution of specified sums on behalf of the United States to the fourteenth replenishment of the International Development Association.
 
Amends the African Development Fund Act to authorize the contribution of specified sums on behalf of the United States to the tenth replenishment of the Fund.
 
Amends the Asian Development Bank Act to authorize the contribution of specified sums on behalf of the United States to the eighth replenishment of the Fund. 
 


Legislative actions:
action_date: 2006-12-08
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 674.
action_date: 2006-12-08
text: Committee on Foreign Relations. Reported by Senator Lugar with an amendment in the nature of a substitute. Without written report.
action_date: 2006-12-08
text: Committee on Foreign Relations. Reported by Senator Lugar with an amendment in the nature of a substitute. Without written report.
action_date: 2005-07-26
text: Committee on Foreign Relations. Ordered to be reported with an amendment in the nature of a substitute favorably.
action_date: 2005-05-26
text: Read twice and referred to the Committee on Foreign Relations. (text of measure as introduced: CR S6024-6027)
action_date: 2005-05-26
text: Sponsor introductory remarks on measure. (CR S6023-6024)
action_date: 2005-05-26
text: Introduced in Senate