A bill to promote the development of microenterprises in developing countries.
Microenterprise Development Act of 1991 - Authorizes the President, acting through the Administrator of the Agency for International Development (AID), to provide assistance for microenterprises in developing countries. Directs AID to establish specified criteria for determining the financial intermediaries that will receive such assistance. Requires a significant portion of such assistance to be used to support direct credit assistance by, and the institutional development of, financial intermediaries with a primary emphasis on assisting people living in absolute poverty, especially women. Outlines funding sources for such assistance.
Permits the President, in order to generate local currencies for providing such assistance, to use development and economic support fund assistance to provide assistance to developing countries on a loan basis repayable in local currencies.
Sets forth minimum levels of assistance to be provided under this Act.
Requires the Administrator to develop a monitoring system to evaluate AID's microenterprise development activities.
Subcommittee Consideration and Mark-up Session Held.
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations.
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