A bill (H.R. 4673) pertaining to international microenterprise programs was approved, by voice vote, by the House International Relations Committee on September 7. Microenterprise programs provide small loans for entrepreneurs to start their own small businesses, or microenterprises. The loans often benefit poor women who would otherwise have difficulty earning their own money or acquiring funds to start a business.
The measure urges congressional support for “the development and expansion of economic assistance programs that fully utilize cooperatives and credit unions.” The bill sets forth criteria for the best programs, including those “committed to…democratic governance and involvement of women and ethnic minorities for economic and social development.”
The bill would require the U.S. Agency for International Development (USAID) to administer its microenterprise programs with a high priority on programs that assist low-income farmers, promote national credit union systems, establish rural cooperatives for electricity and telecommunications, and promote community-based housing. USAID would be required to report to Congress on its progress within six months after the bill’s enactment.
