J.C. Watts: “I rise in support of H.R. 2604 the Multinational Development Banks Authorization Act. I would like to commend Mr. Oxley…”

“I rise in support of H.R. 2604 the Multinational Development Banks Authorization Act. I would like to commend Mr. Oxley, the Chairman of the Financial Services Committee, and Mr. LaFalce, the Ranking Member, and also the sponsor, Mr. Bereuter, for crafting a bill that addresses important development issues in those parts of our world which are struggling to end poverty, hunger and disease and working to restructure, reform and develop their economies for the benefit of all their citizens. Last year I had the opportunity to travel to Africa on two occasions with a number of my Republican and Democratic colleagues under the auspices of the Trade-Aid Coalition which I initiated last year to focus on the links between trade and economic reform and prosperity. The continent of Africa faces difficult challenges, but with the help of projects made possible by the multinational development banks, there are clear signs of progress in many of the countries we visited. This progress is important not only to their economies and the American economy but also to American national security.”