Sponsors (21)
The bill increases Congressional transparency and prevents U.S.-backed financing for shrimp-related projects to protect environmental and economic interests, but it narrows IFI financing options and could harm exporters, complicate lending, reduce development returns, and add GAO workload.
Congress, taxpayers, and federal employees will receive regular, independent reporting on whether U.S. Executive Directors are following statutory instructions, improving transparency and enabling corrective action when Executive Directors support financing contrary to U.S. instructions.
Taxpayers and broader U.S. policy interests: U.S.-backed financing will be blocked from shrimp-related projects overseas, reducing the likelihood that World Bank/IFI loans support activities that cause environmental harm (e.g., mangrove loss) or labor abuses and aligning U.S. contributions with stated policy priorities.
Taxpayers and U.S. economic interests: Regular reporting and oversight may help prevent IFI financing that would flood markets with surplus commodities, protecting U.S. producers and market stability from disruptive financing decisions.
U.S. exporters and foreign small businesses that rely on IFI-backed financing may lose access to development finance and export opportunities, reducing competitiveness and sales for affected firms.
Financial institutions (IFIs) could face reduced flexibility and more complicated lending decisions because restrictions on shrimp-related or related aquaculture/agriculture financing narrow available project options.
Taxpayers may see reduced international development returns or diminished market-access outcomes if restrictions on IFI financing limit projects that could have produced economic benefits tied to U.S. contributions.
Based on analysis of 3 sections of legislative text.
Prohibits U.S. funds to international financial institutions from financing shrimp farming, processing, or shrimp exports, and requires GAO reports on related IFI voting and opposition practices.
Introduced March 11, 2025 by Troy E. Nehls · Last progress March 11, 2025
Prohibits the use of U.S. federal funds provided to international financial institutions for any activities related to shrimp farming, shrimp processing, or the export of shrimp in foreign countries, and requires the Treasury to impose that prohibition as a condition on such funding. It also directs the Comptroller General to report to Congress within 180 days of enactment and annually thereafter on whether U.S. Executive Directors at certain U.S.-represented international financial institutions have followed instructions to oppose IFI assistance for production or extraction of export commodities that are in surplus on world markets. The measure does not appropriate new funds; it attaches a funding condition and establishes recurring federal reporting and oversight requirements about U.S. representation and voting on related IFI financing decisions.