Janice Schakowsky: “I want to express my continuing support for H.R. 3519, the World Bank AIDS Marshall Plan Trust Fund Act, is sponsored by…”

“I want to express my continuing support for H.R. 3519, the World Bank AIDS Marshall Plan Trust Fund Act, is sponsored by the chairman of the Committee on Banking and Financial Services and the gentlewoman from California. I am very proud to be a cosponsor of that bill. If enacted, H.R. 3519 would create a worldwide trust fund that is administered by the World Bank and funded by governments, the private sector, and international organizations. Nations would be able to receive grants from the trust fund to address the HIV/AIDS crisis. The bill would direct the United States to contribute $100 million a year to the fund for 5 years, the hope being that U.S. contributions would help leverage contributions from others in the private sector and the international community. I must say that, while I am happy this bill seems to have the support necessary for passage, I am extremely disappointed that the amount of annual U.S. contributions to the fund under this bill will be $100 million instead of $200 million, the amount approved by the House Banking Committee. Although the passage of this bill would be a significant victory in the battle against HIV/AIDS, it is a small drop in a very big bucket. It is estimated that about $10 billion would be needed over the next 5 years, just to fight AIDS in Africa. We must do much more if we want to seriously address the HIV/AIDS epidemic that is killing millions of people worldwide, and the United States has to lead the way.”