Benjamin Gilman: “H.R. 4673, a bill introduced by our Committee Members, Mr. Bereuter, the gentleman from Nebraska, and cosponsored by Mr.…”

“H.R. 4673, a bill introduced by our Committee Members, Mr. Bereuter, the gentleman from Nebraska, and cosponsored by Mr. Pomeroy, the gentleman from North Dakota, would serve to enhance and expand international economic assistance programs that utilize cooperatives and credit unions. This bill encourages the formation of credit unions and grassroots financial institutions as a way to promote democratic decision-making while concurrently fostering free market principles and self-help approaches to development in some of the world's poorest and neediest countries. The bill's purpose is multi-faceted. It encourages the creation of agricultural and urban cooperatives in the electrical, telecommunications, and housing fields as well as the establishment of base-level credit unions. By doing so, the bill also promotes the adoption of international cooperative principles and practices in our foreign assistance programs and encourages the incorporation of market-oriented principles into these programs. By ensuring that small businessmen and women as well as small-scale farmers have access to credit, and also a stake in their own financial institutions, the United States will foster the key values of self-reliance, community participation, and democratic decision-making in programs that directly affect their lives.”