Senate bill would create tribal development bank

Senator Daniel Inouye, D-Hawaii, has introduced a bill, S439, that would create a Tribal Development Bank. The bank would help to overcome the lack of financial and physical infrastructure in Indian Country by delivering seed money to start new and diverse tribal businesses on reservations.

The Tribal Development Bank would help tribes to finance alternative energy systems such as windmill farms and ocean wave energy projects.

Rep. Eni Faleomavaega, the non-voting congressional delegate from American Samoa, has introduced Inouye’s bill in the House and looks forward to offering amendments authorizing the Tribal Development Bank to support U.S. tribes to engage in trade relations with the First Nations of Canada, Maori tribes of New Zealand and other Indigenous groups around the world.

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