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July 31, 2017 the Honorable Robert Corker the Honorable Benjamin Cardin U.S. Senate U.S. Senate the Honorable Andy Barr the H

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July 31, 2017 the Honorable Robert Corker the Honorable Benjamin Cardin U.S. Senate U.S. Senate the Honorable Andy Barr the H 1701 K STREET, N.W., SUITE 950 • WASHINGTON, D.C. 20006 • PHONE: 202.331.1616 • WWW.BRETTONWOODS.ORG July 31, 2017 The Honorable Robert Corker The Honorable Benjamin Cardin U.S. Senate U.S. Senate The Honorable Andy Barr The Honorable Gwen Moore U.S. House of Representatives U.S. House of Representatives Dear Senator Corker, Senator Cardin, Representative Barr and Representative Moore: We are writing in collective support of the authorization and appropriation for the International Development Association (IDA), the World Bank’s fund for the poorest. At a minimum, we request a 3-year authorization of $3.291 billion and appropriation of $1.097 billion for the first year, as per the President’s request. In December 2016, the United States pledged $3.871 billion for the 3-year IDA18 replenishment period. While the House Financial Services Committee has authorized the President’s requested amount, the House State Foreign Operations Appropriations Subcommittee has proposed only $658m for FY2018, a drastic 50% cut from the original U.S. pledge. IDA’s work critically supports U.S. national security. IDA leverages the power of the global community to assist countries where poverty and disease can breed political instability and foster extremism. Good governance, anti-corruption, disease prevention, and infrastructure investment projects promote stability in weak states, which precipitates positive spillover effects on regional and global security. IDA’s rapid response to the Ebola pandemic and the current famine in Sub-Saharan Africa and Yemen proves its capacity to both promote long-term stability and address immediate crises. IDA projects target major underlying drivers of conflict and extremism, fostering a safer world for all Americans. IDA funding champions U.S. global leadership. As the largest shareholder of the World Bank, the United States is the only country that possesses veto power, thus assuring a strong voice for U.S. economic, national security and diplomatic interests and priorities at the institution. Sustained U.S. international leadership proves critical at a time when China and Russia seek to scale up global economic influence. Maintaining the United States’ historical level of support for IDA will ensure and reinforce U.S. leadership on the global stage. IDA produces high development impact at low cost. Over 55 years of experience, global reach, cross-sector knowledge, and rigorous impact measurement solidify IDA as one of the world’s most effective platforms for development. Contributions from over 50 countries coupled with internal resources and funds leveraged through capital markets reduces aid fragmentation and opens new markets to American goods, such as Eastern Europe and Southeast Asia. IDA provides unparalleled HONORARY CO-CHAIRS CHAIRS EMERITI ADVISORY COUNCIL CO-CHAIRS SECRETARY PRESIDENT GEORGE H.W. BUSH E. GERALD CORRIGAN MOHAMED EL-ERIAN JIM KOLBE JAMES C. ORR PRESIDENT JIMMY CARTER HENRY H. FOWLER RUTH PORAT JAMES D. WOLFENSOHN PRESIDENT GERALD R. FORD BILL FRENZEL WILLIAM R. RHODES EXECUTIVE DIRECTOR HENRY OWEN JEAN-CLAUDE TRICHET CHAIR, RANY S. RODGERS SIR DAVID WALKER PAUL A. VOLCKER INTERNATIONAL COUNCIL CHARLS E. WALKER RICHARD A. DEBS value for money: every $1 in IDA donor contributions generates about $3 in financing for the poorest states. We certainly recognize the fiscal pressures the Congress faces, but we urge you to authorize at least $3.291 billion over three years and appropriate $1.097b in FY2018 for IDA, as requested by the President. Sincerely, Jim Kolbe James D. Wolfensohn Randy S. Rodgers Co-Chair Co-Chair Executive Director On behalf of the members of the Bretton Woods Committee, including our U.S. members: Nishith Acharya Cate Ambrose James Baker, III Calvert Foundation Latin America Private Equity and Baker Botts LLP Venture Capital Association Renee Acosta Kevin F. Barnard Global Justice Center Eric Anderson Arnold & Porter LLP Planetary Resources, Inc. Tim Adams R. Michael Barth Institute of International Finance Martin Apple Barth & Associates LLC Council Of Scientific Society Reena Aggarwal Presidents David Beckmann Georgetown University Bread For The World Paul V. Applegarth Robert Albertson Value Enhancement International Geoffrey Bell Sandler O'Neill & Partners, L.P. Geoffrey Bell & Company, Inc. Daniel Arbess Madeleine Albright Perella Weinberg Partners Robert R. Bench Albright Stonebridge Group WorldBoston Robert R. Aronsson Buzz Aldrin Apollo Energy Systems, Inc Lucy Wilson Benson Starbuzz Enterprises Norman R. Augustine Kenneth E. Bentsen, Jr. Donna Alexander Review of the United States Human Securities Industry and Financial Advoxum Global Strategies Space Flight Plans Committee Markets Association Sarah E. Alexander James Bacchus Robert J. Berg Emerging Markets Private Equity Greenberg Traurig LLP Alliance for Peacebuilding Daniel Alpert Raymond Baker C. Fred Bergsten Westwood Capital, LLC Global Financial Integrity Peterson Institute for International Economics Richard H. Baker Managed Funds Association Jörg Bibow James B. Burnham West Hill Skidmore College Duquesne University (ret.) Julie Chon David Biltchik Edward Burton Perry Capital Consultants International Group U.S.-Saudi Arabian Business Council Aysha Chowdhry Nancy M. Birdsall RiceHadleyGates LLC Center for Global Development Landon Butler James Claire Landon Butler & Co. Mizuho Securities James J. Blanchard DLA Piper Cesare Calari Bill Clapp Wolfensohn & Company LLC Seattle International Foundation Alan S. Blinder Princeton University Kent Calder Robert L. Clarke Johns Hopkins University School of Bracewell LLP W. Michael Blumenthal Advanced International Studies Jewish Museum of Berlin James Clawson Carolyn Campbell University of Virginia David L. Boren Emerging Capital Partners Oklahoma University Kevin Cleaver Frank C. Carlucci James Boughton Carlyle Group E. Patrick Coady Centre for International Governance Coady Diemar Partners Innovation Jimmy Carter The Carter Center Warren Coats Colin Bradford IMF (ret.) The Brookings Institution Lourdes Casanova S.C. Johnson School of Kenneth S. Cohen Nicholas F. Brady Management, Cornell Univeristy MassMutual Financial Group Darby Overseas Investments Kevin Casas-Zamora Rodgin Cohen Joseph C. Brandt Inter American Dialogue Sullivan & Cromwell LLP ContourGlobal Gilbert F. Casellas William Cohen Myron Brilliant Omnitru Technologies, LLC The Cohen Group U.S. Chamber of Commerce Stephen D. Cashin Jean-Marc Coicaud Harry G. Broadman Pan African Capital Group Rutgers University Johns Hopkins University SAIS Gerald S. J. Cassidy Julius E. Coles Pierre Brondeau Cassidy & Associates Andrew Young Center for Global FMC Corporation Leadership, Morehouse College Guillaume Castel Carole L. Brookins The Advisory Board Company Jay Collins Public Capital Advisors Citigroup Michael M. Chamberlin Harold Brown Emerging Markets Traders Mark M. Collins Center for Strategic and Association Brown Advisory and Trust International Studies Company Sandra Charles Giancarlo Bruno C&O Resources, Inc John Conroy World Economic Forum Baker & McKenzie Kenneth I. Chenault Ralph C. Bryant American Express Bank Jill M. Considine The Brookings Institution LCHClearnet Edward J. Chesky Deborah Burand State Dept/USAID (ret.) Lawrence S. Cooley New York University Management Systems International Samuel F. Chevalier Richard N. Cooper Thelma Diaz Business Roundtable Harvard University Independent Consultant Robert Fagenson E. Gerald Corrigan Robert L. Dilenschneider National Holdings Corporation The Challenger Foundation The Dilenschneider Group David A. Coulter James Dimon Marina Fanning Warburg Pincus LLC J.P. Morgan Chase & Co. Management Systems International (ret.) Sam Y. Cross Patricia Mary Dinneen International Monetary Fund (Ret.) EMPEA Thomas L. Farmer International Consultants Group, Alexander B. Cummings Patrick F. Dolan Inc. Acadia Fund, LP Jason Cummins Diana Farrell Brevan Howard Donald F. Donahue J.P. Morgan Chase & Co. Miranda Partners, LLC Nelson Cunningham Patrick Fay McLarty Associates John Donaldson Mizuho Securities USA, Inc. The World Bank Group (ret.) W. Bowman Cutter Martin Feldstein Roosevelt Institute Peter Donaldson Harvard University David D. Cutting Craig S. Donohue Niall Ferguson The Options Clearing Corporation Harvard University J. Dewey Daane Owen Graduate School of Cal Dooley Michael Feroli Management American Chemistry Council J.P. Morgan Chase & Co. 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