A bill to increase transparency and accountability with respect to World Bank lending for the People's Republic of China, and for other purposes.
Accountability for World Bank Loans to China Act of 2019
This bill directs the U.S. Governor for the International Bank for Reconstruction and Development (IBRD) to instruct U.S. representatives to the IBRD that it is U.S. policy to seek China's graduation from IBRD assistance programs. (The IBRD is the World Bank's primary financing institution for middle-income countries. The World Bank's definition of middle-income country is based on a country's gross national income per capita.)
The governor shall report to Congress on U.S. efforts to secure China's graduation from IBRD assistance programs. The Department of the Treasury shall report to Congress on debt transparency and debt management assistance efforts in relation to credit provided by China to other countries, including through China's Belt and Road Initiative.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations.
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