[Congressional Record Volume 167, Number 87 (Wednesday, May 19, 2021)]
[Senate]
[Pages S2789-S2790]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1524. Mr. BARRASSO submitted an amendment intended to be proposed 
to amendment SA 1502 proposed by Mr. Schumer to the bill S. 1260, to 
establish a new Directorate for Technology and Innovation in the 
National Science Foundation, to establish a regional technology hub 
program, to require a strategy and report on economic security, 
science, research, innovation, manufacturing, and job creation, to 
establish a critical supply chain resiliency program, and for other 
purposes; which was ordered to lie on the table; as follows:

       At the end of subtitle B of title I of division C, add the 
     following:

     SEC. 3117. OPPOSITION TO RESTRICTIONS BY INTERNATIONAL 
                   FINANCIAL INSTITUTIONS ON FINANCING OF CERTAIN 
                   ENERGY PROJECTS.

       (a) In General.--The Secretary shall instruct the United 
     States Executive Director of each covered international 
     financial institution to use the voice, vote, and influence 
     of the United States--
       (1) to oppose any rule, regulation, policy, or guideline 
     that would restrict, prohibit, or have the effect of 
     restricting or prohibiting, the financing of coal, oil, 
     natural gas, or civil nuclear energy projects; and
       (2) to rescind each rule, regulation, policy, or guideline 
     that, as of the date of the enactment of this Act, restricts 
     or prohibits such financing.
       (b) Reversal of Policies at International Bank for 
     Reconstruction and Development.--The Secretary shall instruct 
     the United States Executive Director of the International 
     Bank for Reconstruction and Development to immediately and 
     vigorously pursue policy changes at the Bank, through formal 
     initiatives and through bilateral discussions, that will 
     result in the reversal of the Bank's--
       (1) restrictions on financing coal power generation;
       (2) prohibitions on financing upstream oil and gas 
     exploration and production; and

[[Page S2790]]

       (3) prohibition on financing of civil nuclear energy 
     projects.
       (c) Limitation on Funds for International Bank for 
     Reconstruction and Development.--Not more than 50 percent of 
     amounts made available for the International Bank for 
     Reconstruction and Development for fiscal year 2021 or any 
     fiscal year thereafter may be obligated or expended until the 
     Secretary certifies to the appropriate congressional 
     committees that the Bank--
       (1) has rescinded any rule, regulation, policy, or 
     guideline that restricts or prohibits, or would have the 
     effect of restricting or prohibiting, the financing of any 
     coal, oil, natural gas, or civil nuclear energy project; and
       (2) has in effect a policy promoting the financing of coal, 
     oil, natural gas, and civil nuclear energy projects.
       (d) Promotion of Financing of Energy Projects.--The 
     Secretary, in collaboration with the Secretary of State, the 
     Secretary of Energy, the President of the Export-Import Bank 
     of the United States, the Chief Executive Officer of the 
     United States International Development Finance Corporation, 
     and the heads of other appropriate Federal agencies, shall 
     identify steps the United States can take to promote 
     international financing of energy projects, including coal, 
     oil, and natural gas projects, in order to help developing 
     countries access affordable and reliable power.
       (e) Report Required.--Not later than 180 days after the 
     date of the enactment of this Act, and annually thereafter, 
     the Secretary shall submit to the appropriate congressional 
     committees a report that includes the following:
       (1) A list of all of the rules, regulations, policies, or 
     guidelines of each covered international financial 
     institution that would restrict, prohibit, or have the effect 
     of restricting or prohibiting, the financing of coal, oil, 
     natural gas, or civil nuclear energy projects.
       (2) A detailed description of the efforts of the United 
     States Executive Director of each such institution to 
     eliminate those rules, regulations, policies, or guidelines.
       (3) A description of the steps identified under subsection 
     (d) and progress made in implementing those steps.
       (f) Definitions.--In this section:
       (1) Appropriate congressional committees.--The term 
     ``appropriate congressional committees'' means the Committee 
     on Foreign Relations of the Senate and the Committee on 
     Foreign Affairs of the House of Representatives.
       (2) Covered international financial institution.--The term 
     ``covered international financial institution'' means any of 
     the following:
       (A) The International Bank for Reconstruction and 
     Development.
       (B) The International Development Association.
       (C) The International Finance Corporation.
       (D) The International Monetary Fund.
       (E) The Inter-American Development Bank.
       (F) The Inter-American Investment Corporation.
       (G) The North American Development Bank.
       (H) The European Bank for Reconstruction and Development.
       (I) The African Development Bank.
       (J) The African Development Fund.
       (K) The Asian Development Bank.
       (3) Secretary.--The term ``Secretary'' means the Secretary 
     of the Treasury.
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