[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 503 Introduced in House (IH)]







110th CONGRESS
  1st Session
H. RES. 503

           Commending the Middle East Investment Initiative.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 20, 2007

     Mr. Baird (for himself and Mr. Shays) submitted the following 
   resolution; which was referred to the Committee on Foreign Affairs

_______________________________________________________________________

                               RESOLUTION


 
           Commending the Middle East Investment Initiative.

Whereas economic development enhances peace, security, and prosperity in the 
        Palestinian areas of Gaza and the West Bank and is essential to the 
        well-being of people throughout the Middle East and the prospects for 
        regional peace;
Whereas small- and medium-sized enterprises (SMEs) make up 90 percent of the 
        registered Palestinian businesses;
Whereas the MEII has instituted anti-terrorism procedures to ensure that 
        beneficiaries are not connected with terror groups or acts of terror;
Whereas studies suggest that creation of a loan guarantee facility of sufficient 
        scale could increase employment by 400 percent for small enterprises and 
        240 percent for medium enterprises;
Whereas the Middle East Investment Initiative (MEII) is a loan guarantee program 
        created to increase access to financing, technical assistance, and 
        market information for Palestinian entrepreneurs;
Whereas the MEII is a 501(c)(3) non-profit corporation supported by an 
        international public private partnership including Palestinian, 
        American, and European partners;
Whereas the MEII was established by the Aspen Institute's Middle East Strategy 
        Group working with the Palestinian Investment Fund and the Overseas 
        Private Investment Corporation;
Whereas the MEII is working with the West Bank and Gaza Political Risk Insurance 
        Project (a project under the Clinton Global Initiative) and the British 
        Based Portland Trust; and
Whereas the Palestinian Investment Fund has committed $50,000,000 in guarantee 
        funds while the Overseas Private Investment Corporation is providing 
        $110,000,000 in guarantee funds: Now, therefore, be it
    Resolved,  That the House of Representatives--
            (1) commends the MEII and its contributors for their vision 
        and initiative;
            (2) believes that improved economic activity can help bring 
        about regional stability and peace;
            (3) encourages the active participation and contributions 
        of individuals, public and private institutions, and foreign 
        governments in supporting the MEII; and
            (4) pledges support for the MEII and other efforts to 
        stimulate the economy of the Palestinian people.
                                 <all>