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Combating Global Poverty Through Energy Development Act

USA117th CongressS-758| Senate 
| Updated: 3/16/2021
John Barrasso

John Barrasso

Republican Senator

Wyoming

Cosponsors (9)
Bill Cassidy (Republican)Cindy Hyde-Smith (Republican)Cynthia M. Lummis (Republican)James M. Inhofe (Republican)Ted Cruz (Republican)Kevin Cramer (Republican)Bill Hagerty (Republican)John Cornyn (Republican)John Hoeven (Republican)

Foreign Relations Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Combating Global Poverty Through Energy Development Act This bill supports the elimination of restrictions that limit support for certain energy projects at specified international financial institutions. Specifically, the bill requires the Department of the Treasury to instruct the U.S. executive directors of certain financial institutions (e.g., the International Finance Corporation, the International Monetary Fund, and the Inter-American Development Bank) to (1) oppose any restriction or prohibition on the financing of coal, oil, natural gas, or civil nuclear energy projects; and (2) seek to rescind current restrictions or prohibitions on this financing. Further, not more than 50% of amounts made available for the International Bank for Reconstruction and Development may be used until Treasury certifies that the bank (1) has rescinded any restrictions or prohibitions on the financing of coal, oil, natural gas, or civil nuclear energy projects; and (2) has in effect a policy promoting the financing of these projects. Treasury must coordinate with designated agencies to identify steps the United States can take to promote international financing of these energy projects in order to help developing countries access affordable and reliable power.
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Timeline
Mar 16, 2021
Introduced in Senate
Mar 16, 2021
Read twice and referred to the Committee on Foreign Relations.
  • March 16, 2021
    Introduced in Senate


  • March 16, 2021
    Read twice and referred to the Committee on Foreign Relations.

International Affairs

Administrative law and regulatory proceduresCoalCompetitiveness, trade promotion, trade deficitsCongressional oversightElectric power generation and transmissionForeign aid and international reliefForeign loans and debtMultilateral development programsNuclear powerOil and gas

Combating Global Poverty Through Energy Development Act

USA117th CongressS-758| Senate 
| Updated: 3/16/2021
Combating Global Poverty Through Energy Development Act This bill supports the elimination of restrictions that limit support for certain energy projects at specified international financial institutions. Specifically, the bill requires the Department of the Treasury to instruct the U.S. executive directors of certain financial institutions (e.g., the International Finance Corporation, the International Monetary Fund, and the Inter-American Development Bank) to (1) oppose any restriction or prohibition on the financing of coal, oil, natural gas, or civil nuclear energy projects; and (2) seek to rescind current restrictions or prohibitions on this financing. Further, not more than 50% of amounts made available for the International Bank for Reconstruction and Development may be used until Treasury certifies that the bank (1) has rescinded any restrictions or prohibitions on the financing of coal, oil, natural gas, or civil nuclear energy projects; and (2) has in effect a policy promoting the financing of these projects. Treasury must coordinate with designated agencies to identify steps the United States can take to promote international financing of these energy projects in order to help developing countries access affordable and reliable power.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 16, 2021
Introduced in Senate
Mar 16, 2021
Read twice and referred to the Committee on Foreign Relations.
  • March 16, 2021
    Introduced in Senate


  • March 16, 2021
    Read twice and referred to the Committee on Foreign Relations.
John Barrasso

John Barrasso

Republican Senator

Wyoming

Cosponsors (9)
Bill Cassidy (Republican)Cindy Hyde-Smith (Republican)Cynthia M. Lummis (Republican)James M. Inhofe (Republican)Ted Cruz (Republican)Kevin Cramer (Republican)Bill Hagerty (Republican)John Cornyn (Republican)John Hoeven (Republican)

Foreign Relations Committee

International Affairs

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Administrative law and regulatory proceduresCoalCompetitiveness, trade promotion, trade deficitsCongressional oversightElectric power generation and transmissionForeign aid and international reliefForeign loans and debtMultilateral development programsNuclear powerOil and gas