This bill directs the U.S. Treasury Secretary to pressure international financial institutions—including the World Bank, International Monetary Fund, and regional development banks—to remove restrictions on financing coal, oil, natural gas, and nuclear energy projects in developing countries. The legislation requires the U.S. Executive Directors at these institutions to actively oppose and rescind any existing policies limiting such energy financing. A key enforcement mechanism withholds 50 percent of U.S. funding to the International Bank for Reconstruction and Development starting in fiscal year 2026 until the bank reverses its coal, oil, and nuclear financing restrictions and adopts a policy promoting such projects. The bill also requires the Treasury Secretary to work with other federal agencies to identify additional steps to promote international financing of fossil fuel and nuclear energy projects, with progress reports due within 180 days and annually thereafter. The stated goal is to help developing nations access affordable and reliable power to combat global poverty.
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