On the recordJuly 15, 2004
I join the chairman in opposition to the amendment. Because what the amendment would do is cut $250 million from the International Development Association and IDA funds, loans to the poorest countries in the world, mostly African countries, at low rates of interest and long-term repayment schedules. IDA is the source of much of the capital that poor countries use to rebuild vital infrastructure and deal with the chronic problems of poor health and education systems. This amendment, if we had unlimited funds and we can do it all, it might make sense, but in light of the good work of the committee in trying to balance needs in all the accounts, I do not think we can possibly deal with cutting $250 million from IDA, and, therefore, I am opposed to this amendment.
Source
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