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This bill 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.
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. The World Bank paused disbursements and new financing to Burma after a 2021 military coup in that country.
SenateReceived in the Senate and Read twice and referred to the Committee on Foreign Relations.
House floor actionsMr. Davidson moved to suspend the rules and pass the bill, as amended.
Floor Vote
Passed the House
House floor actionsReported (Amended) by the Committee on Financial Services. H. Rept. 119-245.
House committee actionsCommittee Consideration and Mark-up Session Held
Library of CongressIntroduced in House
House floor actionsReferred to the House Committee on Financial Services.
Introduced
Committee
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What Congress Said
Members who spoke about this bill on the floor, in their own words from the Congressional Record.
Republicans3 spoke
I rise in support of H.R. 4423, the No New Burma Funds Act. I thank the gentlewoman from Georgia (Ms. Williams) for sponsoring this bipartisan legislation.
I rise in support of H.R. 4423, the No New Funds for Burma Act. This bill would suspend disbursements and financing from the International Bank for Reconstruction and Development to Burma until the Treasury Secretary identifies a meaningful change in regime and restoration of democratic values.
On Roll Call Nos. 306 and 307, I am not recorded because I was absent due to official business. Had I been present, I would have voted YEA on Roll Call No. 306 and YEA on Roll Call No. 307.
This bill, which I introduced with my colleague Young Kim, would mandate that the United States use its voice and vote to continue the World Bank's pause on disbursements and new financing commitments to the Government of Burma.
I was absent during the time of votes today due to minor health concerns. Had I been present, I would have voted YEA on Roll Call No. 306 and YEA on Roll Call No. 307.
I was absent from the floor and missed Roll Call Nos. 306 and 307. Had I been present, I would have voted YEA on Roll Call No. 306 and YEA on Roll Call No. 307.
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