Expresses the sense of Congress that implementing greenhouse gas accounting includes: (1) calculating net greenhouse gas flows; (2) establishing uniform, publicly available calculation techniques; (3) measuring individual project emissions; (4) considering global social costs when evaluating the economic cost benefit of projects; and (5) performing greenhouse gas accounting for each project.

Directs the Secretary to instruct the U.S. Executive Director at the World Bank to: (1) urge the Bank to help countries build capacity to investigate and punish corruption and crime in a manner consistent with well-established law enforcement and judicial norms; and (2) enhance programs that improve recipient countries' ability to prevent and prosecute fraud and corruption.

Directs the Secretary to seek to ensure that multilateral development banks: (1) evaluate the development impact of selected bank projects and financing operations; and (2) use random assignment when feasible in conducting such evaluations.

Expresses the sense of Congress that: (1) multilateral development banks should evaluate the development impact of selected bank projects and financing operations; (2) such evaluations should focus on building a body of research-proven approaches that have sustained impacts on important development outcomes and use random assignment when feasible; and (3) multilateral development banks should issue an annual report or similar publication.

Amends the International Development Association Act to authorize the U.S. Governor of the International Development Association to contribute to the 15th replenishment of the Association. Authorizes appropriations.

Authorizes the Secretary to contribute to the Association for debt relief funding under the Multilateral Debt Relief Initiative in the period governed by the 15th replenishment of the Association. Authorizes appropriations.

Defines "Multilateral Debt Relief Initiative" as the proposal set out in the G8 Finance Ministers' Communique entitled "Conclusions on Development," done at London, June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.

Directs the Secretary, in coordination with the Secretary of State, the Administrator of the United States Agency for International Development (USAID), and other federal agencies to conduct a study on the respective roles each agency plays in the formulation of U.S. policy regarding the World Bank Group.

(Sec. 3) Amends the International Financial Institutions Act to direct the Secretary of the Treasury to: (1) seek to ensure that multilateral development banks implement greenhouse gas accounting in analyzing the benefits and costs of individual projects, and expand their climate change mitigation activities; and (2) submit a related annual report to the appropriate congressional committees.

Expresses the sense of Congress that implementing greenhouse gas accounting includes: (1) calculating net greenhouse gas flows; (2) establishing uniform publicly available calculation techniques; (3) measuring individual project emissions; (4) considering global social costs when evaluating economic cost benefits; and (5) performing greenhouse gas accounting for each project.

(Sec. 4) Directs the Secretary to instruct the U.S. Executive Director at the World Bank to: (1) urge the Bank to help countries build capacity to investigate and punish corruption and crime in a manner consistent with well-established law enforcement and judicial norms; and (2) enhance programs that improve recipient countries' ability to prevent and prosecute fraud and corruption.

(Sec. 5) Directs the Secretary to instruct the U.S. Executive Director at each multilateral development bank to use U.S. influence to encourage assessments of inspection functions and to strengthen the inspection mechanism where appropriate.

(Sec. 6) Directs the Secretary to seek to ensure that multilateral development banks: (1) evaluate the development impact of selected bank projects and financing operations; and (2) use random assignment when feasible in conducting such evaluations.

Expresses the sense of Congress that: (1) multilateral development banks should evaluate the development impact of selected bank projects and financing operations; (2) such evaluations should focus on building a body of research-proven approaches that have sustained impacts on important development outcomes and use random assignment when feasible; and (3) multilateral development banks should issue an annual report or similar publication.

(Sec. 7) Amends the International Development Association Act to authorize the U.S. Governor of the International Development Association to contribute to the 15th replenishment of the Association. Authorizes appropriations.

Authorizes the Secretary to contribute to the Association for debt relief funding under the Multilateral Debt Relief Initiative in the period governed by the 15th replenishment of the Association. Authorizes appropriations.

Defines "Multilateral Debt Relief Initiative" as the proposal set out in the G8 Finance Ministers' Communique entitled "Conclusions on Development," done at London, June 11, 2005, and reaffirmed by G8 Heads of State at the Gleneagles Summit on July 8, 2005.

(Sec. 8) Directs the Secretary: (1) in coordination with the Secretary of State, the Administrator of the United States Agency for International Development (USAID), and other federal agencies to study each agency's role in the formulation of U.S. policy regarding the World Bank Group; and (2) submit a related report to the appropriate congressional committees.