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Support for Latin America and Caribbean: Development Bank Capital Increase

This act aims to increase financial support for Latin American and Caribbean countries through the Inter-American Development Bank, assisting their recovery from the COVID-19 pandemic. This means the United States will commit significant funds to economic, social, and environmental development in the region, potentially impacting trade stability and security, and thus U.S. interests.
Key points
Increase of the Inter-American Development Bank's capital by $80 billion, with the U.S. committing over $24 billion.
Support for Latin American and Caribbean countries in addressing the COVID-19 pandemic and its economic impacts, including job creation and social protection.
Promotion of inclusive economic and social development in the region, potentially through the establishment of an environmental fund within the Bank.
Strengthening the Bank's capacity to respond to humanitarian crises, such as the Venezuelan migration crisis.
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Additional Information
Print number: 117_S_616
Sponsor: Sen. Menendez, Robert [D-NJ]
Process start date: 2021-03-06
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OFFICIAL LEGAL TITLE

Inter-American Development Bank General Capital Increase Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_616.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-06.

What are the main provisions?

Key points include:

  • Increase of the Inter-American Development Bank's capital by $80 billion, with the U.S. committing over $24 billion.
  • Support for Latin American and Caribbean countries in addressing the COVID-19 pandemic and its economic impacts, including job creation and social protection.
  • Promotion of inclusive economic and social development in the region, potentially through the establishment of an environmental fund within the Bank.
  • Strengthening the Bank's capacity to respond to humanitarian crises, such as the Venezuelan migration crisis.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Menendez, Robert [D-NJ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Public Investments Economy Environment