To establish the United States policy on Burma at the International Monetary Fund, the World Bank Group, and the Asian Development Bank, and for other purposes.

Bill: 117-hr-6340
Sponsor: full_name: Rep. Waters, Maxine [D-CA-43]
Introduced: 2021-12-20
Policy area: International Affairs
Latest action: action_date: 2021-12-20
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2021-12-20
action_desc: Introduced in House
text: <p>This bill establishes a U.S. policy to oppose certain financial assistance to Burma (Myanmar) and addresses related issues.</p> <p>Specifically, the Department of the Treasury must instruct U.S. representatives to the International Monetary Fund, the World Bank Group, and the Asian Development Bank to inform the respective institution that it is U.S. policy to oppose and vote against any loan or financial assistance to Burma through the State Administration Council or any successor entity controlled by Burma's military. This policy shall not apply to humanitarian assistance implemented by an entity not controlled by Burma's military. </p> <p>The President may waive this policy on a case-by-case basis upon certifying that doing so would substantially promote delivering humanitarian assistance to Burma's civilian population or otherwise support U.S. national interests.</p> <p>This policy shall be repealed upon the earlier of (1) the President certifying that certain events have occurred, including Burma's military releasing all political prisoners and the instatement of an elected government following free and fair elections; or (2) 10 years after this bill's enactment.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 6340 IN THE HOUSE OF REPRESENTATIVES December 20, 2021 Ms. Waters introduced the following bill; which was referred to the Committee on Financial Services A BILL To establish the United States policy on Burma at the International Monetary Fund, the World Bank Group, and the Asian Development Bank, and for other purposes.

1. United States policy on Burma at the International Monetary Fund, the World Bank Group, and the Asian Development Bank (a) Sense of the Congress It is the sense of the Congress that the United States should not support the recognition of, or dealing with, the State Administration Council, or any successor entity controlled by the military, as the government of Burma for the purpose of the provision of any loan or financial assistance by the International Monetary Fund, the World Bank Group, or the Asian Development Bank, except for humanitarian assistance channeled through an implementing agency not controlled by the Burmese military. (b) Policy Title XVI of the International Financial Institutions Act ( 22 U.S.C. 262p et seq. ) is amended by adding at the end the following: 1630. United States policy on Burma at the International Monetary Fund, the World Bank Group, and the Asian Development Bank (a) Policy of the United States The Secretary of Treasury shall instruct the United States Executive Directors at the International Monetary Fund, the World Bank Group, and the Asian Development Bank to inform the respective institution that it is the policy of the United States to oppose, and to use the voice and vote of the United States to vote against, any loan or financial assistance to Burma through the State Administration Council, or any successor entity controlled by the military, except for humanitarian assistance channeled through an implementing agency not controlled by the Burmese military. (b) Submission of written statements No later than 60 calendar days after a meeting of the Board of Directors of the World Bank Group or the Asian Development Bank, the Secretary of the Treasury shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate any written statement presented at the meeting by the United States Executive Director concerning the United States policy described in subsection (a) or the United States position on any strategy, policy, loan, extension of financial assistance, or technical assistance related to Burma considered by the Board. (c) Waiver The President of the United States may waive the application of subsection (a) on a case-by-case basis upon certifying to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that the waiver— (1) substantially promotes the objective of delivering humanitarian assistance to the civilian population of Burma, including a detailed explanation as to the need for such a waiver, the nature of the humanitarian assistance, the mechanisms through which such assistance will be delivered, and the oversight safeguards that will accompany such assistance; or (2) is otherwise in the national interest of the United States, with a detailed explanation of the reasons therefor. (d) World bank group defined In this section, the term World Bank Group means the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, and the Multilateral Investment Guarantee Agency. . (c) Sunset Section 1630 of the International Financial Institutions Act, as added by subsection (b), is repealed on the earlier of— (1) the date the President of the United States submits to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate a certification that— (A) the Burmese military has released all political prisoners; (B) an elected government has been instated following free and fair elections; and (C) all government institutions involved in the provision of multilateral assistance are fully under civilian control; or (2) the date that is 10 years after the date of the enactment of this Act.