February 4, 2008
hp-804

Proposed Treasury International Programs Budget for FY 2009

The fiscal year 2009 President's budget request for the Treasury Department's International Programs supports key objectives of the President's international assistance agenda, including helping Africa's poorest people, debt relief, results measurement, greater transparency, fighting corruption, and helping countries reduce dependency on foreign aid. The mission of the Treasury International Programs is to promote economic growth and poverty reduction in developing countries through U.S. participation in the Multilateral Development Banks (MDBs), efforts to prevent the buildup of unsustainable debt burdens in poor countries, and technical advice to developing countries on building sound financial sectors and market-based economies.

The Treasury appropriations request for the International Programs for FY 2009 is $2.2 billion, an increase of $913.7 million over the FY 2008 enacted budget and includes $1.7 billion for the MDBs, $141 million for debt restructuring programs and $29 million for technical assistance. Of this, $1.2 billion is the first payment for the new replenishment of International Development Association, the World Bank's fund for the world's poorest countries, and $156 million is to begin replenishing the African Development Fund.

The budget request also includes $400 million as the first installment of a $2 billion international clean technology fund to address the growing problem of accelerating greenhouse gas emissions in developing countries. The fund will help ensure that the developing country demand for energy will be met with clean technologies by supporting the additional cost of clean investments over their dirtier alternatives.

http://www.treas.gov/offices/management/budget/budgetinbrief/fy2009/index.shtml