22 U.S.C. § 262p-15

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 262p-15 - 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.

22 U.S.C. § 262p-15

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.

Repeal of Section For repeal of section by section 6104(c) of Pub. L. 117-81 see Effective Date of Repeal note below.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF REPEAL Pub. L. 117-81, div. F, title LXI, §6104(c), Dec. 27, 2021, 135 Stat. 2386, provided that: "Section 1631 of the International Financial Institutions Act [22 U.S.C. 262p-15], 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 [Dec. 27, 2021]."

DEFINITIONSThe definitions in section 262p-5 of this title apply to this section.