[Congressional Record Volume 148, Number 137 (Thursday, October 17, 2002)]
[Extensions of Remarks]
[Page E1921]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               H.R. 5400

                                 ______
                                 

                               speech of

                        HON. CHARLES A. GONZALEZ

                                of texas

                    in the house of representatives

                       Thursday, October 10, 2002

  Mr. GONZALEZ. Mr. Speaker, I am glad that this important legislation 
was promptly brought to the floor and passed by unanimous consent. The 
North American Development Bank, NADBank, is the only development bank 
specifically dedicated to the infrastructure challenges of the U.S./
Mexico border. This bill provides the Department of Treasury requested 
authorization to complete negotiations with the Mexican government by 
providing authorization for a new low interest loan facility and 
expanding the grant-making capacity of the bank. In addition it 
requires the Department of Treasury to annually report to the House 
Committee on Financial Services on efforts to improve the effectiveness 
of this important institution.
  Mr. Speaker, I was disappointed in Treasury's initial lack of 
willingness to fully discuss with Congress on how best to improve 
NADBank. The public finance needs of the U.S./Mexico border are complex 
and are growing at an exponential rate. Treasury and Congress must 
communicate in a regular and frank basis on how best to improve this 
institution. I view this legislation as offering a tremendous 
opportunity for Treasury to work in concert with Congress on addressing 
the public finance challenges of the U.S./Mexico border. This is the 
intent of the annual reporting provisions of this bill and I thank 
Congressman Doug Bereuter for his assistance in inserting this 
provision.
  Mr. Speaker, H.R. 5400 is one step out of many that will have to be 
taken to ensure that NADBank achieves its intended goal of providing a 
flexible, competitive option for infrastructure financing for 
struggling U.S./Mexico border communities. I look forward to working 
with my fellow Members on the Financial Services Committee on ensuring 
that NADBank lives up to its full potential and encourage the Senate to 
quickly consider this important legislation.

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