119-s2626

[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