Foreign Assistance Reform and Democracy Support Act of 2000

Foreign Assistance Reform and Democracy Support Act of 2000 - Title I: Phase-Out of Development Assistance - Directs the President to: (1) report biannually to Congress on the level of economic freedom in countries receiving U.S. development assistance; and (2) certify to Congress with respect to each country proposed to receive such assistance whether it is free, mostly free, mostly unfree, or repressed in light of the level of economic freedom determined in that country with respect to trade, tax, and price control policies, government intervention in the economy, and other specified factors.

Prohibits U.S. development assistance for countries that have been certified: (1) mostly unfree after FY 2005 (with a limit on such assistance in FY 2006 and thereafter); (2) repressed countries after FY 2004 (with a limit on such assistance in FY 2005 and thereafter).

Requires certain actions with respect to countries that have been certified free or mostly free, including: (1) programs by the Overseas Private Investment Corporation, the Export-Import Bank of the United States, and the Trade and Development Agency to encourage, finance, or otherwise support private investment from U.S. sources (especially health, education, transportation, financial, and communications infrastructure projects); and (2) a review by the Secretary of the Treasury of the feasibility of restructuring, rescheduling, or eliminating debt owed by the country to any U.S. agency, and a proposal by the U.S. Executive Director of each international financial institution to which the United States is a member for a similar review.

Directs the Secretary to instruct the U.S. Executive Director of each international financial institution to use the U.S. vote to oppose any assistance to the government, any citizen, or entity of any country to which U.S. development assistance is not provided under this Act. Requires the withholding of U.S. assistance from any such institutions that provide assistance to the government, citizen, or entity of any country ineligible to receive U.S. development assistance under this Act.

Title II: Procurement Reform in Development Lending and Assistance - Directs the Secretary to report to the President and to the appropriate congressional committees on a strategic plan for requiring the use of independent third-party procurement monitoring and other international procurement reforms relating to the U.S. participation in multilateral development banks and other lending institutions.