The "Combating Global Poverty Through Energy Development Act" aims to promote the financing of affordable and reliable energy projects by international financial institutions. It instructs the Secretary of the Treasury to direct U.S. Executive Directors at various international financial institutions, including the International Bank for Reconstruction and Development and the African Development Bank, to actively oppose and seek the rescission of any policies that restrict or prohibit the financing of coal, oil, natural gas, or civil nuclear energy projects . This directive emphasizes using the U.S.'s voice, vote, and influence to ensure these institutions support a broad range of energy development. Specifically, the bill mandates the U.S. Executive Director of the International Bank for Reconstruction and Development to vigorously pursue policy changes to reverse its restrictions on financing coal power generation, upstream oil and gas exploration, and civil nuclear energy projects. It also imposes a significant financial limitation, stating that up to 50 percent of U.S. funds for the International Bank for Reconstruction and Development may be withheld starting in fiscal year 2026 until the Bank rescinds these restrictive policies and actively promotes such energy financing. The Secretary, in collaboration with other federal agencies, is also required to identify and report on steps the U.S. can take to promote international financing for these energy projects in developing countries.
Combating Global Poverty Through Energy Development Act
Introduced in Senate
Read twice and referred to the Committee on Foreign Relations. (text: CR S2953-2954)
International Affairs
Combating Global Poverty Through Energy Development Act
USA119th CongressS-1783| Senate
| Updated: 5/15/2025
The "Combating Global Poverty Through Energy Development Act" aims to promote the financing of affordable and reliable energy projects by international financial institutions. It instructs the Secretary of the Treasury to direct U.S. Executive Directors at various international financial institutions, including the International Bank for Reconstruction and Development and the African Development Bank, to actively oppose and seek the rescission of any policies that restrict or prohibit the financing of coal, oil, natural gas, or civil nuclear energy projects . This directive emphasizes using the U.S.'s voice, vote, and influence to ensure these institutions support a broad range of energy development. Specifically, the bill mandates the U.S. Executive Director of the International Bank for Reconstruction and Development to vigorously pursue policy changes to reverse its restrictions on financing coal power generation, upstream oil and gas exploration, and civil nuclear energy projects. It also imposes a significant financial limitation, stating that up to 50 percent of U.S. funds for the International Bank for Reconstruction and Development may be withheld starting in fiscal year 2026 until the Bank rescinds these restrictive policies and actively promotes such energy financing. The Secretary, in collaboration with other federal agencies, is also required to identify and report on steps the U.S. can take to promote international financing for these energy projects in developing countries.