No New Burma Funds Act in plain language
1: Short title
This section would give the Act the short title "No New Burma Funds Act."
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1. Short title This Act may be cited as the No New Burma Funds Act .
2: Continuation of pause on World Bank disbursements and commitments to Burma
This section would require the Secretary of the Treasury to direct the United States Executive Director at the International Bank for Reconstruction and Development (the World Bank) to use the United States' voice and vote to keep in place the Bank's existing pause on disbursements and on making new financing commitments to the Government of Burma. That pause began after a military coup overthrew Burma's democratically elected government in 2021. The Secretary of the Treasury could stop directing the Executive Director to maintain the pause if the Secretary determines that continuing the pause is not in the public interest.
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2. Continuation of pause on World Bank disbursements and commitments to Burma The Secretary of the Treasury shall direct the United States Executive Director at the International Bank for Reconstruction and Development to use the voice and vote of the United States to continue the pause by the Bank on disbursements and the making of new financing commitments to the Government of Burma, which was initiated after a military coup overthrew the democratically elected Government of Burma in 2021, unless the Secretary of the Treasury determines that it is not in the public interest to do so.