Combating Global Poverty Through Energy Development Act

senate

house

president

Introduced on November 21, 2024 by John A. Barrasso

Legislation Details

The legislation aims to support financing for affordable and reliable energy projects by international financial institutions.
The Secretary of the Treasury is instructed to oppose any restrictions on financing coal, oil, natural gas, or civil nuclear energy projects.
The Secretary must pursue policy changes at the International Bank for Reconstruction and Development to reverse existing restrictions on financing coal power, upstream oil and gas exploration, and civil nuclear energy projects.
A limitation is placed on the funds for the International Bank for Reconstruction and Development, requiring certification that the Bank has rescinded prohibitive rules and has a policy promoting financing for the specified energy projects.
The Secretary, in collaboration with other federal agencies, is tasked with identifying steps to promote international financing of energy projects to help developing countries access reliable power.
An annual report is required to be submitted to Congress detailing restrictive rules by international financial institutions, efforts to eliminate them, and progress on promoting energy project financing.
The legislation defines “appropriate congressional committees” and specifies which international financial institutions are covered under the Act.

Last updated 12/18/2024

The legislation aims to support financing for affordable and reliable energy projects by international financial institutions.
The Secretary of the Treasury is instructed to oppose any restrictions on financing coal, oil, natural gas, or civil nuclear energy projects.
The Secretary must pursue policy changes at the International Bank for Reconstruction and Development to reverse existing restrictions on financing coal power, upstream oil and gas exploration, and civil nuclear energy projects.
A limitation is placed on the funds for the International Bank for Reconstruction and Development, requiring certification that the Bank has rescinded prohibitive rules and has a policy promoting financing for the specified energy projects.
The Secretary, in collaboration with other federal agencies, is tasked with identifying steps to promote international financing of energy projects to help developing countries access reliable power.
An annual report is required to be submitted to Congress detailing restrictive rules by international financial institutions, efforts to eliminate them, and progress on promoting energy project financing.
The legislation defines “appropriate congressional committees” and specifies which international financial institutions are covered under the Act.