|Office of Management and Budget||Print this document|
April 12, 1999
The Administration supports efforts to assist microenterprises as an
important economic development tool. In 1994, with strong support of
Congress and nonprofit microenterprise practitioners, the Administration
revitalized microenterprise development with the Microenterprise
Initiative. The Initiative emphasized support for the poor and for poverty
lending. The U.S. Agency for International Development (USAID) renewed
that Initiative in 1997, with a strong commitment to support microfinance
institutions and poverty lending. The Administration remains committed to
identifying new and creative means for providing assistance targeted at the
poorest of entrepreneurs.
The Administration, however, is concerned that specific provisions of H.R. 1143 would hamper USAID's ability to program microenterprise funds effectively and to respond to rapidly changing economic conditions. The Administration, therefore, cannot support H.R. 1143 in its current form, but will work with Congress to fashion a mutually acceptable bill.
Key concerns with H.R. 1143 include provisions that: