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US Policy on Co-Financing with Asian Infrastructure Investment Bank

This bill aims to ensure that the United States opposes programs and projects in multilateral development banks if they are co-financed by the Asian Infrastructure Investment Bank (AIIB), unless the AIIB meets specific conditions. This means the U.S. will push for AIIB funds to be used in a manner consistent with its policies, potentially affecting the availability of financing for developing countries and how these projects are implemented.
Key points
The U.S. will vote against projects co-financed by the Asian Infrastructure Investment Bank (AIIB) at multilateral development banks.
This opposition will stand unless the AIIB demonstrates it can provide grants and concessional assistance on terms similar to the International Development Association (IDA).
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Additional Information
Print number: 118_HR_692
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2023-01-31
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the International Financial Institutions Act to provide instructions with respect to the U.S. policy on co-financing arrangements at the multilateral development banks, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_692.

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 2023-01-31.

What are the main provisions?

Key points include:

  • The U.S. will vote against projects co-financed by the Asian Infrastructure Investment Bank (AIIB) at multilateral development banks.
  • This opposition will stand unless the AIIB demonstrates it can provide grants and concessional assistance on terms similar to the International Development Association (IDA).
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. Torres, Ritchie [D-NY-15].

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 2025-12-25.

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