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119-s-1783119th CongressWALLET

Combating Global Poverty Through Energy Development Act

Sponsored By: Senator Barrasso, John [R-WY]

Introduced

Summary

This bill would push international banks to expand financing for coal, oil, natural gas, and civil nuclear energy. It would direct U.S. officials to use their voice and vote at covered international financial institutions to oppose or rescind rules that limit that financing and would require interagency steps and regular reports to Congress.

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  • Developing countries and project sponsors would gain a U.S.-backed push for more international financing of energy projects, including fossil fuels and civil nuclear, aimed at improving access to affordable and reliable power.
  • The Treasury Secretary would be required to instruct U.S. Executive Directors at covered international financial institutions to oppose or rescind any rule that restricts financing for those projects. The bill lists multiple covered institutions and calls for an initial report to Congress within 180 days and then annual reports documenting restrictive rules and U.S. efforts to remove them.
  • Funding for the International Bank for Reconstruction and Development would be limited so that no more than 50 percent of amounts made available for fiscal year 2026 or later may be obligated or spent until the Secretary certifies the Bank has rescinded its restrictions on coal power, upstream oil and gas, and civil nuclear financing and adopted policies to promote those projects.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

Limit World Bank funding until changes

If enacted, for fiscal year 2026 and any later fiscal year, the U.S. could not obligate or spend more than 50 percent of amounts made available for the IBRD. That hold would remain until the Treasury Secretary certifies to the named congressional committees that the Bank has rescinded restrictions on financing coal, oil, natural gas, and civil nuclear projects and has a policy promoting such financing. The restriction applies to U.S. obligations and expenditures for the IBRD.

Push international banks to finance energy

If enacted, the Treasury Secretary would direct U.S. Executive Directors at listed international banks to oppose rules that block financing for coal, oil, natural gas, and civil nuclear projects. The Secretary would require the U.S. Director at the World Bank (IBRD) to press the Bank to reverse bans on coal power, upstream oil and gas, and civil nuclear financing. The Secretary would also work with State, Energy, Ex-Im, DFC, and other agencies to identify steps to promote international energy financing. The provision does not itself appropriate new funds.

Which global banks are covered

If enacted, the bill would name the congressional committees that get its reports. It would list the covered international banks and funds, like the World Bank, IMF, regional development banks, and funds. It would also say the term "Secretary" means the Secretary of the Treasury.

Sponsors & CoSponsors

Sponsor

Barrasso, John [R-WY]

WY • R

Cosponsors

  • Sen. Lummis, Cynthia M. [R-WY]

    WY • R

    Sponsored 5/15/2025

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 5/15/2025

  • Sen. Blackburn, Marsha [R-TN]

    TN • R

    Sponsored 5/15/2025

  • Sen. Cruz, Ted [R-TX]

    TX • R

    Sponsored 5/15/2025

  • Sen. Lee, Mike [R-UT]

    UT • R

    Sponsored 5/15/2025

  • Sen. Hagerty, Bill [R-TN]

    TN • R

    Sponsored 5/15/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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