World Bank Integrity Preservation Act of 2021

Bill: 117-s-1454
Sponsor: full_name: Sen. Grassley, Chuck [R-IA]
Introduced: 2021-04-29
Policy area: International Affairs
Subjects: Foreign loans and debt

Human rights

International organizations and cooperation

Multilateral development programs

Religion
Latest action: action_date: 2021-04-29
text: Read twice and referred to the Committee on Foreign Relations.

Summaries:
action_date: 2021-04-29
action_desc: Introduced in Senate
text: <p><b>World Bank Integrity Preservation Act of 2021</b></p> <p>This bill requires the U.S. Executive Director of the International Bank for Reconstruction and Development to oppose any extension of financial or technical assistance by the bank to a country that both exceeds the graduation threshold of the bank and is designated as a country of particular concern for religious freedom.</p>

tv_txt: II 117th CONGRESS 1st Session S. 1454 IN THE SENATE OF THE UNITED STATES April 29, 2021 Mr. Grassley (for himself, Mr. Rubio , Mr. Cotton , Mr. Cruz , and Mr. Scott of Florida ) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations A BILL To require the United States Executive Director of the International Bank for Reconstruction and Development to oppose assistance by the Bank for any country that exceeds the graduation threshold of the Bank and is of concern with respect to religious freedom.

1. Short title This Act may be cited as the World Bank Integrity Preservation Act of 2021 . 2. Opposition to assistance by the International Bank for Reconstruction and Development for countries that exceed the graduation threshold and are of concern for religious freedom The United States Governor of the International Bank for Reconstruction and Development shall instruct the United States Executive Director of the Bank to vote against, and to use the Executive Director’s best efforts to deny, any loan or the extension of any financial or technical assistance by the Bank to a country if— (1) the gross national income per capita of the country exceeds, by more than 35 percent, the threshold for graduation from eligibility for assistance from the Bank; (2) the reserves of the country exceed an amount equivalent to the value of goods and services imported into the country during the most recent 12-month period for which data are available; and (3) the country is designated— (A) as a country of particular concern for religious freedom under clause (ii) of section 402(b)(1)(A) of the International Religious Freedom Act of 1998 ( 22 U.S.C. 6442(b)(1)(A) ); or (B) for placement on the special watch list under clause (iii) of that section.