Connect with us

Hi, what are you looking for?

Florida Politics

Marco Rubio Backs More Funds for the Inter-American Development Bank

Rubio is backing the “Inter-American Development Bank General Capital Increase Act” from U.S. Sen. Bob Menendez, D-NJ. The proposal would increase American funds for the IDB by $20 billion. The IDB is run by almost 50 counties, including the U.S., and is the largest source of support for Latin American and Caribbean economic development. Other backers of the bill include U.S. Sens. Ben Cardin, D-Mary., Bill Cassidy, R-La., and Tim Kaine, D-Va.

Share Story Via Text or E-Mail

At the end of last week, U.S. Sen. Marco Rubio, R-Fla., threw his support behind a proposal to increase funding for the Inter-American Development Bank (IDB).

Rubio is backing the “Inter-American Development Bank General Capital Increase Act” from U.S. Sen. Bob Menendez, D-NJ. The proposal would increase American funds for the IDB by $20 billion. The IDB is run by almost 50 counties, including the U.S., and is the largest source of support for Latin American and Caribbean economic development. Other backers of the bill include U.S. Sens. Ben Cardin, D-Mary., Bill Cassidy, R-La., and Tim Kaine, D-Va.

“As we continue looking for ways to step up our efforts to address global challenges posed by the COVID-19 pandemic, this important legislation renews the United States’ commitment to the region’s leading multilateral development bank and to deepening economic relations with our hemispheric partners,” Menendez said. “I’m glad to be joined by so many of my colleagues to ensure the IDB has the resources it needs to support our partners in Latin America and the Caribbean, particularly after the hemisphere’s economic outlook was severely battered by COVID-19 and a devastating hurricane season. This bill would also ensure that the IDB is better prepared to address the growing challenges of climate change in the Americas by calling for the establishment of its first-ever environmental fund.”

See also  Rubio: We Must Not Let China Succeed In Its Information War Against United States

“I’m proud to join Senator Menendez and my colleagues in reintroducing this important bill at a time when American leadership in our hemisphere is needed more than ever,” Rubio said. “By supporting the Inter-American Development Bank’s capital increase, we are reaffirming our support of the organization and its financial initiatives. As we continue to confront this global pandemic, we must continue doing all we can to counter China’s predatory behavior in our hemisphere.”

The bill was sent to the U.S. Senate Foreign Relations Committee, which Menendez chairs. So far, there is no companion measure over in the U.S. House.

 

Reach Kevin Derby at kevin.derby@floridadaily.com.

 

Author

  • Kevin Derby

    Originally from Jacksonville, Kevin Derby is a contributing writer for Florida Daily and covers politics across Florida.

    View all posts
Share Story Via Text or E-Mail
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Follow Us on Social Media

Ed Dean: Publisher

 

Ed Dean is a leading radio and news media personality including hosting the #1 statewide radio talk show in Florida. Contact Ed.Dean@FloridaDaily.com

Article Archives

Related Stories

Foreign Affairs

Florida Senator Marco Rubio (R), who serves as Vice Chairman of the Senate Select Committee on Intelligence, joined Lindsey Graham (R-SC), Ranking Member of...

Healthcare

Florida Senator Rick Scott (R) joined fellow Florida Senator Marco Rubio (R, Senator Jerry Moran (R-Kan.) and 17 of their colleagues in urging Department...

Florida Politics

Getting your Trinity Audio player ready... In response to former President Donald Trump being found guilty on all 34 counts during his hush money...

Immigration

With the 2024 Presidential Election less than six months away, a recent poll shows that most Americans (52%) prefer a candidate who supports mass...

Senator Rick Scott

Florida Senator Rick Scott was joined by fellow Florida Republican Senator Marco Rubio and Alaska’s Senators Lisa Murkowski (R), and Dan Sullivan (R), to...

Healthcare

The Veterans Affairs Community Care Program (VCCP) provides health care for veterans in need outside of VA facilities. A recent report exposed flaws in the Veterans...

Most Recent

Florida Senator Marco Rubio (R-FL), who serves as vice chair of the Senate Select Committee on Intelligence, touted three national security bills that were...

Business

Chinese-owned company ByteDance, the parent company of TikTok, has one year to sell TikTok to a U.S. company if it hopes to avoid an...