Department of State

Stop Sending $Billions in Foreign Aid to African Banks

Here is the exact wording from the 2011 budget:

"To Support the Poorest Populations Globally. The Multilateral Development Banks (MDBs) provide concessional financing to meet the needs of the poorest populations globally, including in fragile and post-conflict countries and in countries that have disproportionally felt the effects of the global financial crisis. The MDBs

play a particularly important role in regions of high need like Sub-Saharan Africa, while working throughout the developing world to help countries achieve sustained economic growth and poverty reduction. U.S. contributions to the MDBs leverage other donor resources and increase the U.S.’s influence, credibility, and effectiveness globally.

The Budget also provides funding for new Millennium

Challenge Corporation compacts in eligible countries, such as Indonesia and Zambia, to reduce poverty and stimulate economic growth.

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Idea No. 8544