This bill would create the Haitian American Enterprise Fund for Haiti. The President may designate a nonprofit to serve as the Fund. The Chief Executive Officer of the U.S. International Development Finance Corporation (DFC) would operate the Fund. A nine-member Oversight Panel would monitor the Fund; members would be appointed by the DFC CEO and the President and include U.S. and Haitian citizens. The Fund may invest in private-sector projects in Haiti, focusing on micro, small, and medium businesses and sectors such as agriculture, biodiversity, construction, energy, finance, manufacturing, and tourism. Allowed activities include equity investments, loans, guarantees, grants, insurance, technical assistance, and training. The Fund may support national infrastructure projects (electricity, roads, ports, water and sanitation, dams, canals, stormwater systems, and related health programs) and may encourage U.S. private venture capital. The bill limits federal funds used as grants to 20 percent and caps operating costs and feasibility studies at 15 percent of appropriated funds. The Fund must be audited annually by an independent accountant and may be audited by the Government Accountability Office when it holds U.S. funds. The Fund must repay all U.S. funds to the Treasury and terminate by December 31, 2031. The bill authorizes $1,000,000,000 for each fiscal year 2026 through 2031, available until expended or Fund termination.
The bill text says supporters want to promote private-sector growth in Haiti, strengthen institutions and democracy, build resilient infrastructure, leverage the Haitian-American diaspora and U.S. private capital, reduce irregular migration, and support long-term development that avoids debt-trap financing. It cites Haiti's strategic location, historical ties, large diaspora remittances, and a need for investments to achieve development goals.
No publicly available information.