Sec. 5. Support for environmental sustainability initiatives of Inter-American Development Bank
170 words·~1 min read·
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Congress makes the following findings: The Inter-American Development Bank has served as an executing agency for the Global Environment Facility, a grant-making and financing facility supported by 182 countries to address global environmental issues and sustainable development. The Inter-American Development Bank has never had its own environmental grant-making and financing facility despite the fact that the Americas are home to the world’s largest tropical rain forest and include countries significantly affected by natural disasters annually.
It is the sense of Congress that the Inter-American Development Bank should— establish its own environmental grant-making and financing facility in order to implement and expand environmental policies, metrics, and standards, to strengthen resilience and disaster preparedness, and to improve sustainability and conservation; and continue to strengthen environmental safeguards as an element of economic development in the Western Hemisphere. The President shall advance diplomatic engagement to build support among member countries of the Bank for the creation of an environmental fund and financing facility as part of the tenth general capital increase for the Bank.