    [United States Statutes at Large, Volume 124, 111th Congress, 2nd Session]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    Public Law 111-158
    111th Congress

    An Act

    To urge the Secretary of the Treasury to instruct the United States
    Executive Directors at the International Monetary Fund, the World Bank,
    the Inter-American Development Bank, and other multilateral development
    institutions to use the voice, vote, and influence of the United States
    to cancel immediately and completely Haiti's debts to such institutions,
    and for other purposes. <>

    Be it enacted by the Senate and House of Representatives of the
    United States of America in Congress assembled, <>
    SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Haiti Debt Relief and Earthquake
    Recovery Act of 2010''.
    SEC. 2. DEBT RELIEF FOR HAITI.

    Title XVI of the International Financial Institutions Act (22 U.S.C.
    262p et seq.) is amended by adding at the end the following new section:
    ``SEC. 1628. <>  CANCELLATION OF HAITI'S
    DEBTS TO INTERNATIONAL FINANCIAL
    INSTITUTIONS.

    ``(a) In General.--The Secretary of the Treasury should direct the
    United States Executive Director at the International Monetary Fund, the
    International Development Association, the Inter-American Development
    Bank, the International Fund for Agricultural Development, and other
    multilateral development institutions (as defined in section 1701(c)(3))
    to use the voice, vote and influence of the United States at each such
    institution to seek to achieve--
    ``(1) the immediate and complete cancellation of any and all
    remaining debts owed by Haiti to such institutions;
    ``(2) the suspension of Haiti's debt service payments to
    such institutions until such time as the debts are canceled
    completely; and
    ``(3) <>  the provision, before February 1,
    2015, of emergency, humanitarian and reconstruction assistance
    from such institutions to Haiti in the form of grants or other
    assistance such that Haiti does not accumulate debt.

    ``(b) Use of Certain Funds for Assistance to Haiti.--The Secretary
    of the Treasury should instruct the United States Executive Director of
    the International Monetary Fund to advocate the use of some of the
    realized windfall profits that exceed the required contribution to the
    Poverty Reduction and Growth Trust (as referenced in the IMF Reforms
    Financial Facilities for Low-Income Countries Public Information Notice
    (PIN) No. 09/94) from the ongoing sale of 12,965,649 ounces of gold
    acquired since the second Amendment of the Fund's Article of Agreement,
    to provide debt

    [[Page 1122]]

    stock relief and debt service relief for Haiti and, before February 1,
    2015, to provide grants for Haiti.
    ``(c) Securing Other Relief for Haiti.--The Secretary of the
    Treasury and the Secretary of State should use all appropriate
    diplomatic influence to secure cancellation of any and all remaining
    bilateral, multilateral and private creditor debt owed by Haiti.''.
    SEC. 3. INFRASTRUCTURE INVESTMENT.

    (a) Trust Fund.--The Secretary of the Treasury should support the
    creation and utilization of a multilateral trust fund for Haiti that
    would leverage potential United States contributions and promote
    bilateral donations to such a fund for the purpose of making investments
    in Haiti's future and future generations, including efforts to combat
    soil degradation and promote reforestation and infrastructure
    investments such as electric grids, roads, water and sanitation
    facilities, and other critical infrastructure projects.
    (b) Increase in Transfer of Earnings.--The Secretary of the Treasury
    should direct the United States Executive Director of the Inter-American
    Development Bank to seek to increase the transfer of its earnings to the
    Fund for Special Operations and to a trust fund or grant facility for
    Haiti.

    Approved April 26, 2010.

    LEGISLATIVE HISTORY--H.R. 4573:
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    CONGRESSIONAL RECORD, Vol. 156 (2010):
    Mar. 10, considered and passed House.
    Mar. 26, considered and passed Senate, amended.
    Apr. 14, House concurred in Senate amendments.