§262p–15 United States Policy on Burma at the International Monetary Fund, the World Bank Group, and the Asian Development Bank

Summary

The Treasury Secretary must tell the United States Executive Directors at the International Monetary Fund, the World Bank Group, and the Asian Development Bank to tell those institutions that the United States will oppose and vote against any loan or financial help to Burma that goes through the State Administration Council or any military-controlled successor. The only exception is humanitarian aid that is given through an agency not controlled by the Burmese military. Within 60 calendar days after a World Bank Group or Asian Development Bank board meeting, the Treasury Secretary must send to the Committee on Financial Services of the House and the Committee on Foreign Relations of the Senate any written statement the U.S. Executive Director gave about U.S. policy or positions on Burma. The President can waive the rule against voting for such loans, case by case, if he certifies to those same committees that the waiver either will substantially promote delivery of humanitarian aid to civilians (and explains the need, the aid, how it will be delivered, and oversight safeguards) or is otherwise in the national interest (with an explanation). The World Bank Group means the IBRD, IDA, IFC, and MIGA.