A bill to authorize the President to agree to certain amendments to the Agreement Between the Government of the United States of America and the Government of the United Mexican States Concerning the Establishment of a Border Environment Cooperation Commission and a North American Development Bank.

Amends the North American Free Trade Agreement Implementation Act to authorize the President to instruct the U.S. representative to the North American Development Bank to vote for or otherwise agree to amendments to the Border Environment Cooperation Agreement (the November 1993 Agreement Between the Government of the United States of America and the Government of the United Mexican States Concerning the Establishment of a Border Environment Cooperation Commission and a North American Development Bank) that would: (1) authorize the Bank, with the approval of its Board of Directors, to make grants and non-market rate loans out of its paid-in capital for qualified water conservation projects, provided the grants are structured only as co-financing to pay a portion of the recipient's debt service on debt financing for such projects; and (2) amend the definition of "border region" as it relates to such projects to include specified areas in the United States and Mexico that are within a certain distance of the international boundary between the two countries.