The Senate is proposing new assistance and investment in the Middle East and Central Asia.
The purpose of the Act (S 2305 IS) is to authorise assistance for political freedom and economic development, particularly through private sector development, in the Greater Middle East and Central Asia, including contributions to and participation in three new entities: a Trust for Democracy, a Development Foundation, and a Development Bank.
Here’s the complete text. While I certainly am a fan of the small and medium business support provisions, it’s the democratization stuff that most interests me:
CREATION OF TRUST FOR DEMOCRACY- The President is authorized to establish, together with other donors and private sector and nongovernmental leaders from the Greater Middle East and Central Asia, a multilateral, public-private Trust for Democracy to support grass-roots development of civil society, democratic reform, good governance practices, and rule of law reform in the Greater Middle East and Central Asia. Private foundations shall be encouraged to participate in the Trust through the provision of matching funds.
Sure, there are no specifics, and I’m sure there will undoubtedly be changes made, but the extra $5 billion for 2005-2009 is very welcome.
Comments on this entry are closed.