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HR 4423 - No New Burma Funds Act - National Key Vote

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Title: No New Burma Funds Act

Vote Smart's Synopsis:

Vote to pass a bill that requires the U.S. Executive Director at the International Bank for Reconstruction and Development to vote for a continued pause on disbursements to Burma.

Highlights:

  • 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 (Sec. 2).

  • Specifies that 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 (Sec. 2).

  • Specifies further that the World Bank paused disbursements and new financing to Burma after a 2021 military coup in that country (Sec. 2).

Full Bill Text

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