S. 1783

119 S1783 IS: Combating Global Poverty Through Energy Development Act
 U.S. Senate
 2025-05-15
 text/xml
 EN
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  II
  119th CONGRESS
  1st Session
  S. 1783
  IN THE SENATE OF THE UNITED STATES
  May 15, 2025
  Mr. Barrasso  (for himself,  Ms. Lummis ,  Mr.
  Ricketts ,  Mrs. Blackburn ,
  Mr. Cruz ,  Mr.
  Lee , and  Mr. Hagerty )
  introduced the following bill; which was read twice and referred to the
  Committee on Foreign
  Relations
  A BILL
To support financing of affordable and reliable energy projects by
  international financial institutions, and for other purposes.
1.
Short title
This Act may be cited as the   Combating Global Poverty Through Energy Development Act  .
2.
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
(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 2026 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has rescinded any rule, regulation, policy, or guideline that restricts or prohibits, or would have the effect of restricting or prohibiting, the financing of any coal, oil,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.