US SB3509

Establishes a debt reduction program for developing countries to help them build resilience against economic, climate, or other systemic challenges

Authorizes the U.S. government to reduce, cancel, or restructure bilateral debt owed by eligible developing nations

Requires participating countries to direct savings from debt relief toward resilience-building initiatives such as climate adaptation, public health infrastructure, or economic stability programs

Directs the Secretary of the Treasury to negotiate debt reduction agreements and establish eligibility criteria for participating nations

Creates reporting requirements to Congress on program implementation and the use of funds freed up through debt relief