[Congressional Record Volume 140, Number 11 (Tuesday, February 8, 1994)]
[Extensions of Remarks]
[Page E]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: February 8, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
   INTRODUCTION OF THE MIDDLE EAST PEACE AND DEVELOPMENT ACT OF 1994

                                 ______


                         HON. TIMOTHY J. PENNY

                              of minnesota

                    in the house of representatives

                       Tuesday, February 8, 1994

  Mr. PENNY. Mr. Speaker, I rise today to introduce legislation which 
would require the President of the United States to direct the 
establishment of a Middle East Development Initiative [MEDI] to provide 
development assistance to the people of the Middle East for the purpose 
of promoting the peace process in that region.
  This legislation authorizes $260 million per year for the next 3 
years for the MEDI. This bill includes a pay-as-you-go provision to pay 
for the MEDI--a provision reducing United States foreign assistance by 
5 percent, from the fiscal year 1994 levels, for the countries of 
Israel and Egypt.
  Under this initiative, development assistance will be available to 
those countries which are engaged in bilateral or multilateral 
discussions or negotiations which promote the peace process in the 
Middle East region. Development assistance will also be made available 
to organizations or communities in the West Bank and Gaza which are 
engaged in the peace process.
  In fiscal year 1994, the United States is providing a total of $36.5 
million in development assistance to the Middle East region. However, 
the United States provides a total of $3.1 billion in military 
assistance to the region, plus an additional $2.03 billion in economic 
assistance--much of which is used for military spending.
  Clearly, the United States will need to increase its commitment to 
economic and political development in the Middle East as the peace 
process continues in the next several months. Every country in the 
Middle East, including Israel and Egypt, will be eligible for funds 
from this initiative so long as they are engaged in the peace process. 
This legislation simply transfers foreign assistance funds from two 
Middle East accounts to another Middle East account in order to provide 
necessary development assistance funds to people in the region.
  I ask Members to cosponsor the Middle East Peace and Development Act 
of 1994.

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