Tag: inter-american development bank

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.

Marco Rubio Backs Effort to Increase Capital for the Inter-American Development Bank

U.S. Sen. Bob Menendez, D-NJ, introduced the bill on Thursday and Rubio’s office spelled out some of the details of the legislation and why the Florida Republican was backing it.