We introduce a new statistical machine translation approach specifically geared to learning translation from low resource languages, that exploits monolingual English semantic parsing to bias inversion transduction grammar (ITG) induction. We show that in contrast to conventional statistical machine translation (SMT) training methods, which rely heavily on phrase memorization, our approach focuses on learning bilingual correlations that help translating low resource languages, by using the output language semantic structure to further narrow down ITG constraints. This approach is motivated by previous research which has shown that injecting a semantic frame based objective function while training SMT models improves the translation quality. We show that including a monolingual semantic objective function during the learning of the translation model leads towards a semantically driven alignment which is more efficient than simply tuning loglinear mixture weights against a semantic frame based evaluation metric in the final stage of statistical machine translation training. We test our approach with three different language pairs and demonstrate that our model biases the learning towards more semantically correct alignments. Both GIZA++ and ITG based techniques fail to capture meaningful bilingual constituents, which is required when trying to learn translation models for low resource languages. In contrast, our proposed model not only improve translation by injecting a monolingual objective function to learn bilingual correlations during early training of the translation model, but also helps to learn more meaningful correlations with a relatively small data set, leading to a better alignment compared to either conventional ITG or traditional GIZA++ based approaches.