No New Burma Funds Act
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International Affairs
Rep. Williams, Nikema [D-GA-5] (D) — GA
Summary
This bill requires the U.S. Executive Director at the International Bank for Reconstruction and Development (IBRD) to advocate and vote for a continued pause on IBRD disbursements and new financing commitments to Burma unless the Department of the Treasury determines this is not in the national interest.
The IBRD is one of the two major lending facilities of the World Bank and provides loans, guarantees, risk management products, and advisory services to middle-income countries and some creditworthy low-income countries. The World Bank paused disbursements and new financing to Burma after a 2021 military coup in that country.
Legislative subjects
Asia; Burma; Foreign aid and international relief; International Affairs; Multilateral development programs; Sanctions
Latest action
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.
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