(a) In generalThe Secretary of the Treasury shall instruct the United States Executive Director at each international financial institution of the World Bank Group and at the Asian Development Bank to use the voice and vote of the United States at the respective institution to vote against the provision of any loan, extension of financial assistance, or technical assistance to the People’s Republic of China unless the Secretary of the Treasury has certified to the appropriate congressional committees that—
(1) the Government of the People’s Republic of China and any lender owned or controlled by the Government of the People’s Republic of China have demonstrated a commitment—
(A)
to the rules and principles of the Paris Club, or of other similar coordinated multilateral initiatives on debt relief and debt restructuring in which the United States participates, including with respect to debt transparency and appropriate burden-sharing among all creditors;
(B)
to the practice of presumptive public disclosure of the terms and conditions on which they extend credit to other governments (without regard to the form of any such extension of credit);
(b) DefinitionsIn this section:
(1) Appropriate congressional committees
The term “appropriate congressional committees” means the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate.
(Pub. L. 95–118, title XVI, § 1632, as added Pub. L. 117–263, div. E, title LVII, § 5701, Dec. 23, 2022, 136 Stat. 3407.)