January 17, 2018 Update
Today, the U.S. House of Representatives passed the World Bank Accountability Act of 2017. The Act, which was briefly discussed in an earlier MassPoint post of July 22, 2017 (below), maintains the anti-corruption and accountability purposes outlined below. The text of the Act, H.R. 3326, can be viewed here. The Act will next be referred to the Senate where it must pass and then be presented to and signed by the President to become law.
For more information about the Act or related anti-corruption or legislative process matters, contact MassPoint PLLC at email@example.com.
July 22, 2017
World Bank Accountability Act of 2017 Would Condition Certain U.S. Appropriations on World Bank’s Anti-Corruption and Counter-Violent Extremism Performance and Authorize Trump Administration’s Request to Reduce Funding to IDA
On July 25, 2017, the House Financial Services Committee will meet to markup H.R. 3326, the “World Bank Accountability Act of 2017.” H.R. 3326 was introduced in the House on July 20, 2017 by Rep. Andy Barr (R-KY), who is a member of the House Financial Services Committee. To date, the bill has no co-sponsors.
The stated purpose of the World Bank Accountability Act of 2017 is to “increase accountability, combat corruption, and strengthen management effectiveness at the World Bank.” Among other measures, H.R. 3326 would, as summarized by the Financial Services Committee, “withhold a portion of future appropriations for the World Bank until the Treasury Department reports that the World Bank has undertaken reforms to fight corruption, strengthen management accountability, and undermine violent extremism.” In addition, the World Bank Accountability Act of 2017 would “authorize the Trump Administration’s request for reduced funding to the Bank’s International Development Association.”
H.R. 3326 is available here.
For more information about the World Bank Accountability Act of 2017; analysis of relevant U.S. legal, policy, and political matters; or for assistance tracking the legislation and relevant developments, contact Hdeel Abdelhady at firstname.lastname@example.org.