To amend the International Financial Institutions Act to instruct certain United States Executive Directors to vote against any assistance to the People's Republic of China unless certain certifications are met, and for other purposes.
About This Bill
Committee
Latest Action · January 25, 2022
Referred to the House Committee on Financial Services.
This bill requires U.S. representatives to certain international financial institutions to vote and advocate against the institutions providing assistance to China unless the Department of the Treasury makes certain certifications to Congress.
Specifically, Treasury must order U.S. representatives to the World Bank Group and the Asian Development Bank to oppose the relevant institution providing assistance to China unless Treasury certifies that (1) China's government (and any lenders it owns or controls) has credibly committed to taking certain actions, such as participating in multilateral debt relief initiatives on terms at least comparable to other Group of 20 governments; and (2) the assistance to China contributes significantly to a global public good that serves U.S. national interests, such as limiting the negative impacts of climate change.
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