S.Amdt. 3699

This amendment, known as the Strengthening United States Leadership at the IDB Act, aims to add a new subtitle to bill S. 2296. Its purpose is to use United States influence at the Inter-American Development Bank (IDB) to reduce the influence of the People's Republic of China (PRC) and PRC entities.

Key Changes and Objectives

• Reducing PRC Influence: The Secretary of the Treasury and Secretary of State will instruct the U.S. Executive Director at the IDB to vote against projects involving PRC trust funds or those that pose risks to U.S. national and economic security. It also aims to block the PRC from increasing its voting share relative to the United States.

• Promoting U.S. and Ally Procurement: The amendment seeks to advocate for the IDB to procure from the United States and U.S. partner countries instead of the PRC. It also pushes for procurement policies that prioritize integrity, transparency, and value for money over the lowest upfront cost.

• Increasing Collaboration: The amendment encourages the IDB to collaborate with the United States International Development Finance Corporation on grants, loans, and projects in IDB borrowing member countries.

• Accountability Reporting: The CEO of the Corporation must provide a report to the appropriate congressional committees within 180 days of the Act's enactment. This report will overview past collaboration with the IDB and analyze ways to expand that collaboration.