S. 2027 · 112th Congress
Microfinance and Microenterprise Enhancement Act of 2011
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D
BennetSponsor4 cosponsors · 2 D, 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Microfinance and Microenterprise Enhancement Act of 2011 - Expresses the sense of Congress that the United States Agency for International Development (USAID) should expand specified microfinance programming.
What it does: CRS summary · Introduced in Senate · Dec 17, 2011
Microfinance and Microenterprise Enhancement Act of 2011 - Expresses the sense of Congress that the United States Agency for International Development (USAID) should expand specified microfinance programming.
Directs USAID to: (1) modify the Poverty Assessment Tools so that partner organizations can use them for expanded data management purposes, (2) align household-level interventions with interventions that link the poor to expanding economic opportunities, (3) support the development of financial products adapted to the needs of enterprises, (4) support microfinance institutions and providers that are using agriculture-specific tools, (5) promote financial services to meet the needs of poor households for cash flow management and asset accumulation, and (6) support partners that provide informal savings-led and asset building approaches to microfinance.
Urges USAID to: (1) consider support for small- and medium-sized enterprises as a means to improve productivity and competitiveness in key subsectors in which large numbers of poor micro-entrepreneurs participate; and (2) support organizations that link social protection programs with microfinance services, savings services, and business development services.
Authorizes USAID to utilize 1% of its development assistance account budget for FY2013 through FY2017 for the creation of a financial access and microenterprise innovation challenge fund that shall: (1) support cost-effective and innovative products and technologies that improve the delivery of financial services to the poor, particularly in rural locations; (2) support new microfinance and microenterprise products, services, and delivery systems that show potential to become cost-effective at large scale; and (3) help transition such methods and technologies to widespread adoption.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Microfinance and Microenterprise Enhancement Act of 2011
Latest action (Dec 17, 2011): Read twice and referred to the Committee on Foreign Relations.
Policy area: International Affairs · Origin: Senate · Introduced: Dec 17, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.