No New Burma Funds Act

No New Burma Funds Act

This bill requires the U.S. Executive Director at the International Bank for Reconstruction and Development (IBRD) to advocate and vote for a continued pause on IBRD disbursements and new financing commitments to Burma unless the Department of the Treasury determines this is not in the national interest.

The IBRD is one of the two major lending facilities of the World Bank and provides loans, guarantees, risk management products, and advisory services to middle-income countries and some creditworthy low-income countries. The World Bank paused disbursements and new financing to Burma after a 2021 military coup in that country.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov