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Restricting Financial Aid to China from World Bank and Asian Development Bank

This bill aims to restrict financial assistance to China from international institutions like the World Bank and Asian Development Bank. Funds will be withheld unless China meets specific conditions regarding debt transparency and participation in relief initiatives. This ensures that U.S. funds are used responsibly and align with U.S. national interests.
Key points
The U.S. will vote against financial aid to China unless China commits to transparent lending practices to other countries.
Aid will only be possible if China participates in multilateral debt relief initiatives on terms comparable to other G20 governments.
Financial support will only be granted if it significantly contributes to a global public good, such as limiting climate change impacts, and serves U.S. national interests.
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Expired
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Additional Information
Print number: 117_HR_6475
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2022-01-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the International Financial Institutions Act to instruct certain United States Executive Directors to vote against any assistance to the People's Republic of China unless certain certifications are met, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6475.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-01-25.

What are the main provisions?

Key points include:

  • The U.S. will vote against financial aid to China unless China commits to transparent lending practices to other countries.
  • Aid will only be possible if China participates in multilateral debt relief initiatives on terms comparable to other G20 governments.
  • Financial support will only be granted if it significantly contributes to a global public good, such as limiting climate change impacts, and serves U.S. national interests.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Waters, Maxine [D-CA-43].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Public Investments