This bill — known as the World Bank Accountability Act — would authorize the appropriation of about $3.3 billion over the 2018-2020 period for the United States’ share of the 18th replenishment of the International Development Association (IDA), which is part of the World Bank. The Secretary of the Treasury would be required to withhold up to 30 percent of that contribution unless they certify to Congress that the World Bank and IDA are adopting institutional reforms aimed at promoting accountability in its poverty reduction initiatives and fighting corruption in each of the three preceding fiscal years.
The bill would require the Secretary of the Treasury to instruct the U.S. Executive Director at the International Bank for Reconstruction and Development to use the voice and vote of the U.S. to oppose assistance to governments that have failed to implement sanctions required by U.N. Security Council resolution that’s in effect (such as the one targeting North Korea).