[Congressional Record Volume 171, Number 132 (Thursday, July 31, 2025)]
[Senate]
[Pages S5122-S5123]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3377. Mr. McCORMICK (for himself and Mr. Kaine) submitted an 
amendment intended to be proposed by him to the bill S. 2296, to 
authorize appropriations for fiscal year 2026 for military activities 
of the Department of Defense, for military construction, and for 
defense activities of the Department of Energy, to prescribe military 
personnel strengths for such fiscal year, and for other purposes; which 
was ordered to lie on the table; as follows:

       At the end of title XII, add the following:

              Subtitle F--Inter-American Development Bank

     SEC. 1271. SHORT TITLE.

       This subtitle may be cited as the ``Strengthening United 
     States Leadership at the IDB Act''.

     SEC. 1272. DEFINITIONS.

       In this subtitle:
       (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. 1273. UNITED STATES POLICY RELATED TO THE PEOPLE'S 
                   REPUBLIC OF CHINA AT INTER-AMERICAN DEVELOPMENT 
                   BANK.

       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, involving the PRC 
     or PRC entities, for potential risks to the national and 
     economic security interests of the United States; and
       (2) voting against--
       (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.

     SEC. 1274. 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. 1275. 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.

[[Page S5123]]

       (2) An analysis of potential areas to expand collaboration 
     between the Corporation and the IDB in IDB borrowing member 
     countries.
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