No Funds for Forced Labor Act

Block IFI loans tied to forced labor

This bill would require the Treasury Secretary to tell U.S. Executive Directors at international financial institutions to use the U.S. voice, vote, and influence to oppose loans for projects that pose a significant risk of using forced labor. It would also bar support for projects carried out by state-owned or heavily state-influenced entities in the Xinjiang Uyghur Autonomous Region. Each institution would have to provide a project-specific explanation of how it vetted forced labor risks and what it did to mitigate, track, and reverse those risks. The Treasury Secretary would submit an initial report within 1 year and then annual reports for 5 years to specified House and Senate committees. Those reports, or an unclassified version, would be made available to the public. The bill would define "forced labor" by reference to section 307 of the Tariff Act of 1930 and would explicitly include convict and indentured labor under penal sanctions.