Sec. 60101. U.S. policy on World Bank Group and Asian Development Bank Loans to China
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Title XVI of the International Financial Institutions Act ( 22 U.S.C. 262p et seq. ) is amended by adding at the end the following: The Secretary of the Treasury shall instruct the United States Executive Directors at the World Bank Group and the Asian Development Bank to use the voice and vote of the United States at the respective institution to vote against any assistance to the People’s Republic of China unless the Secretary of the Treasury has certified to the appropriate congressional committees that— the Government of the People’s Republic of China and any lenders owned or controlled by the Government of the People’s Republic of China have credibly committed— to participate in multilateral debt relief initiatives on terms at least comparable to other Group of 20 governments; to the practice of presumptive public disclosure of the terms and conditions on which they extend credit to other governments (without regard to the form of any such extension of credit); not to enforce any agreement terms that may impair their own or the borrowers’ capacity fully to implement commitments described under subparagraphs
(A)and (B); and not to enter into any agreement containing terms that may impair their own or the borrowers’ capacity fully to implement commitments described under subparagraphs
(A)and (B); and such assistance contributes significantly to the provision of a global public good that serves the national interest of the United States, such as limiting the negative impacts of climate change. In this section: The term appropriate congressional committees means the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate. The term World Bank Group means the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, and the Multilateral Investment Guarantee Agency. .
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Sec. 60101
U.S. policy on World Bank Group and Asian Development Bank Loans to China
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