Sec. 5427. United States opposition to multilateral development bank projects that provide a public subsidy to a private sector firm unless the subsidy is awarded using an open, competitive process or on an open-access basis
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Title XV of the International Financial Institutions Act (22 U.S.C. 262o-262o-4) is amended by adding at the end the following: The Secretary of the Treasury shall instruct the United States Executive Director at each multilateral development bank— to use voice, vote, and influence of the United States to ensure that private sector subsidies provided by the respective bank, including through the Private Sector Window of the International Development Association, are provided in accordance with the World Bank guidelines; and to vote against any project at the respective bank, including through the Private Sector Window of the International Development Association, that provides a public subsidy to a private sector firm unless— the subsidy is awarded using an open, competitive process; the subsidy is awarded on an open access basis; or the United States Executive Director at the respective bank determines that the subsidy falls within an exception provided in the World Bank guidelines for the use of direct contracting.
Within 60 days after the United States Executive Director at any multilateral development bank makes a determination described in subsection (a)(2)(C), the Secretary of the Treasury shall cause to be posted on the website of the Department of the Treasury a justification for the determination. In this section: The term multilateral development bank has the meaning given in section 1701(c)(4). The term World Bank Guidelines means the July 2014 revised edition of the document, entitled Procurement of Goods, Works, and Non-Consulting Services under IBRD Loans and IDA Credits & Grants by World Bank Borrowers , published by the World Bank Group. .
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- 22 USC 262o-262o
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Sec. 5427
United States opposition to multilateral development bank projects that provide a public subsidy to a private sector firm unless the subsidy is awarded using an open, competitive process or on an open-access basis
Cite22 USC 262o-262o
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