# What This Bill Does

This bill tells the U.S. Treasury Department to take a specific stance when voting on development projects at major international banks. Essentially, it instructs American representatives at these banks to vote against any project that involves financing from the Asian Infrastructure Investment Bank (AIIB) unless certain conditions are met first.

The bill is really about the U.S. expressing concern about the AIIB, which is a Chinese-led development bank that finances infrastructure projects in Asia and other regions. The concern appears to be that the AIIB might not be as generous or flexible as other major development institutions when it comes to helping the poorest countries. So the bill says: don't approve projects that involve AIIB money unless the Treasury Secretary can certify that the AIIB actually does provide grants and favorable loans to the world's poorest nations, similar to what the World Bank does, and that they have a proven track record of doing so.

**Who this affects:** This mainly impacts countries seeking development funding and the international development community. It could slow down or block certain infrastructure projects in Asia and developing regions if they involve AIIB financing. For average Americans, the practical effect is indirect—it's essentially the U.S. taking a harder line in international financial negotiations to push back against Chinese influence in global development financing. It doesn't directly change any laws affecting Americans at home, but it does signal a shift in how the U.S. wants to engage with Chinese-backed financial institutions on the world stage.

To amend the International Financial Institutions Act to provide instructions with respect to the U.S. policy on co-financing arrangements at the multilateral development banks, and for other purposes.

Rep. Torres, Ritchie [D-NY-15]

 <p>This bill requires U.S. representatives to vote against any program or project at a multilateral development bank (e.g., the World Bank) that includes joint or parallel financing provided by the Asian Infrastructure Investment Bank (AIIB) unless the Department of the Treasury certifies that the AIIB (1) has the authority and resources to provide grants and concessional assistance to countries eligible to borrow from the International Development Association on terms similar to those provided to these countries by the International Development Association, and (2) has a demonstrated history of providing such assistance to these countries.</p>