Chuck Hagel: “I rise to commend Senator Leahy and Senator McConnell for their leadership in crafting the Fiscal Year 2002 Foreign…”

“I rise to commend Senator Leahy and Senator McConnell for their leadership in crafting the Fiscal Year 2002 Foreign Operations Appropriations Bill. I am here today to state my continued support of international economic assistance for programs that utilize cooperatives and credit unions. Last year, Senators Grams, Feingold and I sponsored the Support for Overseas Development Act, S. 3072. This Act was included as part of a larger bill, the Microenterprise for Self-Reliance and International Anti-Corruption Act, H.R. 4673, which was signed into public law on October 17, 2000. This bipartisan legislation enhances current language in Section 111 of the Foreign Assistance Act of 1961. Overseas cooperatives foster similar principles abroad that U.S. cooperatives are based on: free democratic associations of mutual benefit for members. For four decades, cooperatives and credit unions have proven to be an effective and efficient way to assist people in developing and market transition countries. Currently, U.S. cooperatives are working in over 67 different countries. Under our legislation, USAID is encouraged to put greater priority on the development of agricultural cooperatives for marketing, processing and inputs. USAID should explore community-based cooperatives for rural electric and telephone service when national utilities are privatized.”