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22 U.S.C. § 262p–15 — United States policy on Burma at the International Monetary Fund, the World Bank Group, and the Asian Development Bank

submitted 5 years ago by Pub. L. 95-118 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 348 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law makes it U.S. policy to oppose loans to Burma's military-controlled government, except for humanitarian aid. Treasury must report certain statements to Congress, and the President may waive this rule for humanitarian or national-interest reasons.

(a) Policy of the United States
The Treasury Secretary must instruct the U.S. representatives at the IMF, World Bank Group, and Asian Development Bank to tell those institutions that U.S. policy is to oppose any loan or financial help to Burma through the State Administration Council or any successor group controlled by the military. The U.S. representatives must vote against such loans. The one exception is humanitarian assistance, but only if it's delivered through an agency that the Burmese military doesn't control.

(b) Submission of written statements
Within 60 days after a Board of Directors meeting of the World Bank Group or Asian Development Bank, the Treasury Secretary must send the House Financial Services Committee and Senate Foreign Relations Committee any written statement the U.S. representative gave at that meeting. This covers statements about the policy in subsection (a), or about any U.S. position on a strategy, policy, loan, or assistance related to Burma that the Board discussed.

(c) Waiver
The President can waive subsection (a) case-by-case, but only after certifying to those same two committees that the waiver either: (1) mainly helps deliver humanitarian assistance to Burma's civilian population — with a detailed explanation of why the waiver is needed, what the assistance is, how it will be delivered, and what oversight will be in place; or (2) otherwise serves the national interest of the United States, with a detailed explanation of the reasons.

(d) World Bank Group defined
In this section, "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.

the actual law source: uscode.house.gov ↗public domain
(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.

Source credit: (Pub. L. 95–118, title XVI, § 1631, as added Pub. L. 117–81, div. F, title LXI, § 6104(b), Dec. 27, 2021, 135 Stat. 2385.)

history & why it existsrecord from the source credit
  • 2021Enacted · Pub. L. 95-118 · 135 Stat. 2385

A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-118 on 2021-12-27.

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