[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2626 Reported in Senate (RS)]
<DOC>
Calendar No. 240
119th CONGRESS
1st Session
S. 2626
To strengthen the leadership role of the United States at the Inter-
American Development Bank, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 31, 2025
Mr. McCormick (for himself and Mr. Kaine) introduced the following
bill; which was read twice and referred to the Committee on Foreign
Relations
October 30, 2025
Reported by Mr. Risch, with an amendment
[Strike out all after the enacting clause and insert the part printed
in italic]
_______________________________________________________________________
A BILL
To strengthen the leadership role of the United States at the Inter-
American Development Bank, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
<DELETED>SECTION 1. SHORT TITLE.</DELETED>
<DELETED> This Act may be cited as the ``Strengthening United States
Leadership at the IDB Act''.</DELETED>
<DELETED>SEC. 2. DEFINITIONS.</DELETED>
<DELETED> In this Act:</DELETED>
<DELETED> (1) Appropriate congressional committees.--The
term ``appropriate congressional committees'' means--</DELETED>
<DELETED> (A) the Committee on Foreign Relations of
the Senate; and</DELETED>
<DELETED> (B) the Committee on Foreign Affairs and
the Committee on Financial Services of the House of
Representatives.</DELETED>
<DELETED> (2) IDB.--The term ``IDB'' means all of the
current and former institutions in the IDB Group, including the
Inter-American Development Bank, the Inter-American Investment
Corporation (commonly known as ``IDB Invest''), IDB Lab, and
any related or predecessor entities.</DELETED>
<DELETED> (3) PRC.--The term ``PRC''--</DELETED>
<DELETED> (A) means the People's Republic of
China;</DELETED>
<DELETED> (B) except as provided by subparagraph
(C), includes all Special Administrative Regions of the
People's Republic of China, including Hong Kong and
Macau; and</DELETED>
<DELETED> (C) excludes Taiwan.</DELETED>
<DELETED> (4) PRC entity.--The term ``PRC entity'' means any
corporation, company, limited liability company, limited
partnership, business trust, business association, or other
similar entity owned by, controlled by, or subject to the
jurisdiction or direction of the Government of the People's
Republic of China.</DELETED>
<DELETED>SEC. 3. UNITED STATES POLICY RELATED TO THE PEOPLE'S REPUBLIC
OF CHINA AT INTER-AMERICAN DEVELOPMENT BANK.</DELETED>
<DELETED> The Secretary of the Treasury, in consultation with the
Secretary of State, shall instruct the United States Executive Director
at the Inter-American Development Bank to use the voice, vote, and
influence of the United States to reduce the influence of the PRC and
PRC entities in IDB operations, activities, and projects, including
by--</DELETED>
<DELETED> (1) reviewing any IDB projects, or loans, grants,
or other financing, that include entry into a contract,
provision of funding, or provision of other financing,
involving the PRC or PRC entities, for potential risks to the
national and economic security interests of the United States;
and</DELETED>
<DELETED> (2) voting against--</DELETED>
<DELETED> (A) any project, or loan, grant, or other
financing, that--</DELETED>
<DELETED> (i) would include the
participation of PRC trust funds created within
the IDB; or</DELETED>
<DELETED> (ii) after a review is conducted
under paragraph (1), the United States
Executive Director or the Secretary of the
Treasury determines poses a risk to the
national and economic security interests of the
United States; and</DELETED>
<DELETED> (B) the issuance, sale, or transfer of
additional shares of stock in the IDB to the PRC in a
manner that increases the voting share of the PRC at
the IDB relative to the voting share of the United
States.</DELETED>
<DELETED>SEC. 4. ENCOURAGING INTER-AMERICAN DEVELOPMENT BANK
PROCUREMENT FROM UNITED STATES AND PARTNER COUNTRY
ENTITIES.</DELETED>
<DELETED> The Secretary of the Treasury shall instruct the United
States Executive Director at the Inter-American Development Bank to use
the voice, vote, and influence of the United States to advocate for--
</DELETED>
<DELETED> (1) increased internal and external capacity-
building by the IDB to encourage procurement by entities from
the United States and member countries of the IDB that are
allies or partners of the United States, rather than entities
from the People's Republic of China; and</DELETED>
<DELETED> (2) implementing IDB procurement policies that
prioritize value for money, transparency, and integrity over
lowest upfront cost.</DELETED>
<DELETED>SEC. 5. UNITED STATES DEVELOPMENT FINANCE CORPORATION
COLLABORATION WITH INTER-AMERICAN DEVELOPMENT
BANK.</DELETED>
<DELETED> (a) In General.--The Secretary of the Treasury shall
instruct the United States Executive Director at the Inter-American
Development Bank to use the voice, vote, and influence of the United
States to encourage collaboration between the IDB and the United States
International Development Finance Corporation (in this section referred
to as the ``Corporation'') on projects, financing, loans, or grants in
IDB borrowing member countries.</DELETED>
<DELETED> (b) Report Required.--Not later than 180 days after the
date of the enactment of this Act, the Chief Executive Officer of the
Corporation shall submit to the appropriate congressional committees a
report that includes the following:</DELETED>
<DELETED> (1) An overview of collaboration between the
Corporation and the IDB since the signing in 2019 of a
memorandum of understanding between the IDB and the
Corporation's predecessor agency with respect to investments in
projects in Latin America and the Caribbean.</DELETED>
<DELETED> (2) An analysis of potential areas to expand
collaboration between the Corporation and the IDB in IDB
borrowing member countries.</DELETED>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Strengthening United States
Leadership at the IDB Act''.
SEC. 2. DEFINITIONS.
In this Act:
(1) Appropriate congressional committees.--The term
``appropriate congressional committees'' means--
(A) the Committee on Foreign Relations of the
Senate; and
(B) the Committee on Foreign Affairs and the
Committee on Financial Services of the House of
Representatives.
(2) IDB.--The term ``IDB'' means all of the current and
former institutions in the IDB Group, including the Inter-
American Development Bank, the Inter-American Investment
Corporation (commonly known as ``IDB Invest''), IDB Lab, and
any related or predecessor entities.
(3) PRC.--The term ``PRC''--
(A) means the People's Republic of China;
(B) except as provided by subparagraph (C),
includes all Special Administrative Regions of the
People's Republic of China, including Hong Kong and
Macau; and
(C) excludes Taiwan.
(4) PRC entity.--The term ``PRC entity'' means any
corporation, company, limited liability company, limited
partnership, business trust, business association, or other
similar entity owned by, controlled by, or subject to the
jurisdiction or direction of the Government of the People's
Republic of China.
SEC. 3. UNITED STATES POLICY RELATED TO THE PEOPLE'S REPUBLIC OF CHINA
AT INTER-AMERICAN DEVELOPMENT BANK.
(a) In General.--The Secretary of the Treasury, in consultation
with the Secretary of State, shall instruct the United States Executive
Director at the Inter-American Development Bank to use the voice, vote,
and influence of the United States to reduce the influence of the PRC
and PRC entities in IDB operations, activities, and projects, including
by--
(1) reviewing any IDB projects, or loans, grants, or other
financing, that include entry into a contract, provision of
funding, or provision of other financing, whether directly or
indirectly, involving the PRC or PRC entities, for potential
risks to the national and economic security interests of the
United States; and
(2) voting against or taking action to prevent a quorum for
all votes related to--
(A) any project, or loan, grant, or other
financing, that--
(i) would include the participation of PRC
trust funds created within the IDB; or
(ii) after a review is conducted under
paragraph (1), the United States Executive
Director or the Secretary of the Treasury
determines poses a risk to the national and
economic security interests of the United
States; and
(B) the issuance, sale, or transfer of additional
shares of stock in the IDB to the PRC in a manner that
increases the voting share of the PRC at the IDB
relative to the voting share of the United States.
(b) Reports on Sanctions and Export Control Violations.--The United
States Executive Director shall--
(1) identify IDB projects involving PRC entities that are
or have engaged in activities in violation of sanctions or
export controls imposed by the United States; and
(2) submit to the appropriate congressional committees a
report on any such project.
SEC. 4. ENCOURAGING INTER-AMERICAN DEVELOPMENT BANK PROCUREMENT FROM
UNITED STATES AND PARTNER COUNTRY ENTITIES.
The Secretary of the Treasury shall instruct the United States
Executive Director at the Inter-American Development Bank to use the
voice, vote, and influence of the United States to advocate for--
(1) increased internal and external capacity-building by
the IDB to encourage procurement by entities from the United
States and member countries of the IDB that are allies or
partners of the United States, rather than entities from the
People's Republic of China; and
(2) implementing IDB procurement policies that prioritize
value for money, transparency, and integrity over lowest
upfront cost.
SEC. 5. UNITED STATES DEVELOPMENT FINANCE CORPORATION COLLABORATION
WITH INTER-AMERICAN DEVELOPMENT BANK.
(a) In General.--The Secretary of the Treasury shall instruct the
United States Executive Director at the Inter-American Development Bank
to use the voice, vote, and influence of the United States to encourage
collaboration between the IDB and the United States International
Development Finance Corporation (in this section referred to as the
``Corporation'') on projects, financing, loans, or grants in IDB
borrowing member countries.
(b) Report Required.--Not later than 180 days after the date of the
enactment of this Act, the Chief Executive Officer of the Corporation
shall submit to the appropriate congressional committees a report that
includes the following:
(1) An overview of collaboration between the Corporation
and the IDB since the signing in 2019 of a memorandum of
understanding between the IDB and the Corporation's predecessor
agency with respect to investments in projects in Latin America
and the Caribbean.
(2) An analysis of potential areas to expand collaboration
between the Corporation and the IDB in IDB borrowing member
countries.
SEC. 6. REPORT ON INFLUENCE OF THE PEOPLE'S REPUBLIC OF CHINA AT THE
INTER-AMERICAN DEVELOPMENT BANK.
(a) In General.--Not later than 180 days after the date of the
enactment of this Act, the Secretary, in consultation with the
Secretary of State, shall submit to the appropriate congressional
committees a report that includes the following:
(1) The scope and scale of the influence of the PRC and PRC
entities in the IDB, including in--
(A) the organization and personnel of the IDB;
(B) IDB governance and transparency;
(C) the financing of the IDB;
(D) determinations around which projects to fund or
finance;
(E) deliberations regarding the involvement or
membership of Taiwan in the IDB; and
(F) any other modes through which the PRC or PRC
entities influence the IDB.
(2) A complete list of all projects of the IDB that include
financing or funding from the PRC, PRC entities, or PRC trust
funds created at the IDB since the PRC joined the IDB as a
member country on January 12, 2009, including--
(A) the title and identification number of the
project;
(B) a description of the project;
(C) the location of the project;
(D) the amount of funding or financing initially
allocated for the project;
(E) the amount of funding or financing disbursed
under the project;
(F) a summary of the status of the implementation
of the project;
(G) a description of any incidents in which funding
or financing for a project has been disbursed, but
required work has not been implemented or completed;
and
(H) an identification of each PRC entity
participating in funding or financing such a project,
including--
(i) an identification of the ultimate
beneficial owner for each such entity;
(ii) a statement of whether each such
entity is included in the World Bank cross-
debarment list, including conditional non-
debarments, due to fraud, human rights abuses,
corruption, or related misconduct; and
(iii) a statement of whether sanctions were
imposed by the United States with respect to
each such entity.
(3) A complete list of the projects of the IDB in which PRC
entities participate, whether through direct or indirect
procurement or other contracting, including--
(A) the title and identification number of the
project;
(B) a description of the project;
(C) the location of the project;
(D) the amount of funding or financing initially
allocated for the project;
(E) the amount of funding or financing disbursed
under the project;
(F) an identification of all PRC entities
participating in the project, including--
(i) a statement of whether, for each such
entity, the participation consists of direct or
indirect procurement or other contracting;
(ii) an identification of the ultimate
beneficial owner for each such entity;
(iii) a statement of whether each such
entity is on the World Bank cross-debarment
list, including conditional non-debarments, due
to fraud, human rights abuses, corruption, or
related misconduct; and
(iv) a statement of whether sanctions were
imposed by the United States with respect to
each such entity;
(G) the amount of funding or financing received by
the PRC entities under the project;
(H) a summary of the work conducted by the PRC
entities as part of direct or indirect procurement or
other contracting; and
(I) a description of any incidents in which the PRC
entities received funding or financing as part of a
direct or indirect procurement or other contracting,
but required work has not been implemented or
completed.
(4) A full review of projects described in paragraphs (2)
and (3) to assess whether any of the projects featured any
human rights abuses, delays, corruption, or poor results, and
an analysis of the procurement practices involved in the
projects.
(5) The extent to which--
(A) the IDB uses equipment or services produced by
entities on--
(i) the list of entities that produce or
provide communications equipment or services on
the list published by the Federal
Communications Commission under section 2(a) of
the Secure and Trusted Communications Networks
Act of 2019 (47 U.S.C. 1601(a)); or
(ii) the Entity List maintained by the
Bureau of Industry and Security of the
Department of Commerce and set forth in
Supplement No. 4 to part 744 of the Export
Administration Regulations; and
(B) projects funded or financed by the IDB use
equipment or services provided by such entities.
(6) A review of how and to what extent the PRC has used the
IDB to, within IDB member countries--
(A) spread the diplomatic, economic, informational,
and military influence of the PRC;
(B) promote the adoption and use of technologies of
PRC entities; and
(C) promote the preferred values of the PRC.
(7) An action plan for the Executive Director to work to
reduce the involvement of the PRC and PRC entities in the IDB
and projects funded or financed by the IDB, as determined under
this subsection.
(8) The extent to which PRC entities sanctioned by the
United States serve in leadership or management positions in
entities that are PRC entities and are working on IDB-funded or
IDB-financed projects.
(9) The extent to which the PRC has used its voice, vote,
and influence in the IDB to promote the interests of the PRC at
the expense of regional development interests.
(10) A list of IDB projects funded by the PRC or PRC
entities assessed to pose a risk to United States interests as
a result of their proximity to--
(A) a cooperative security location;
(B) a United States military installation outside
the contiguous United States; or
(C) a military installation of a partner or ally of
the United States.
(b) Subsequent Reports.--Not later than 2 years after the Secretary
submits the report required by subsection (a), and every 2 years
thereafter for 8 years, the Secretary shall submit to the appropriate
congressional committees a report that includes--
(1) any updates to information included in all reports
submitted under subsection (a); and
(2) any new information related to the matters described in
subsection (a).
(c) Notification Requirement.--In addition to the reports required
by subsections (a) and (b), the Secretary shall notify the appropriate
congressional committees in writing not later than 15 days after
becoming aware of any new IDB project--
(1) in which the PRC or any PRC entity is engaged in a
contract, either through financing or funding, or as a
participant; and
(2) that is related to matters described in subsection
(a)(10).
(d) Format.--Each report and notification required by subsection
(a), (b), or (c) shall be submitted to the appropriate congressional
committees in unclassified form, but may include a classified annex.
(e) Public Availability.--Not earlier than 60 days, and not later
than 90 days, after the Secretary submits a report or notification
required by subsection (a), (b), or (c), the Secretary shall post an
unclassified summary of the report or notification on a public-facing
web page of the Department of the Treasury and the Secretary of State
shall post such summary on a public-facing web page of the Department
of State.
(f) Definitions.--In this section:
(1) Cooperative security location.--The term ``cooperative
security location'' means any facility that is--
(A) located outside the United States that is owned
or operated by a country that is a partner of the
United States; and
(B) used for security cooperation activities,
contingency access, and regional training.
(2) Executive director.--The term ``Executive Director''
means the United States Executive Director at the IDB.
(3) Export administration regulations.--The term ``Export
Administration Regulations'' has the meaning given that term in
section 1742 of the Export Control Reform Act of 2018 (50
U.S.C. 4801).
(4) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury.
(5) Ultimate beneficial owner.--The term ``ultimate
beneficial owner'' means, with respect to an entity, an
individual who, directly or indirectly, through any contract,
arrangement, understanding, relationship, or otherwise--
(A) exercises substantial control over the entity;
or
(B) owns or controls 25 percent or more of the
ownership interests of the entity.
Calendar No. 240
119th CONGRESS
1st Session
S. 2626
_______________________________________________________________________
A BILL
To strengthen the leadership role of the United States at the Inter-
American Development Bank, and for other purposes.
_______________________________________________________________________
October 30, 2025
Reported with an amendment