No Funds for Forced Labor Act
Summary
What This Bill Does
This bill directs U.S. policy at international financial institutions against projects tied to forced labor. After findings about forced labor in the Xinjiang Uyghur Autonomous Region and concerns involving International Finance Corporation clients, the bill states that international financial institutions should not fund, finance, or guarantee loans to entities credibly accused of forced labor. It amends the International Financial Institutions Act to require the Treasury Secretary to instruct each U.S. Executive Director to use U.S. voice, vote, and influence to oppose loans for projects that pose significant forced-labor risk or are carried out by state-owned or heavily state-influenced entities in Xinjiang. It also requires project-specific explanations of forced-labor vetting and mitigation, annual reports for 5 years, and public release of those reports or unclassified versions.
Who Benefits and How
Uyghur workers, other forced-labor victims, human-rights advocates, Congress, and the public benefit because U.S. representatives must oppose risky loans and disclose how international financial institutions vet and mitigate forced-labor risk. The policy may reduce international financing for projects connected to forced labor.
Who Bears the Burden and How
The Treasury Department and U.S. Executive Directors at international financial institutions must oppose covered loans, press for project-specific explanations, report annually to Congress, and publish the reports. International financial institutions and borrowers with Xinjiang state-owned or forced-labor-risk projects face greater scrutiny and possible U.S. opposition to financing.
Key Provisions
- States congressional findings about forced labor in Xinjiang and concerns involving International Finance Corporation clients.
- Directs the Treasury Secretary to instruct U.S. Executive Directors to oppose IFI loans for projects with significant forced-labor risk.
- Requires opposition to loans for projects carried out by state-owned or heavily state-influenced entities in Xinjiang.
- Requires project-specific explanations of forced-labor vetting, mitigation, tracking, and reversal actions.
- Requires annual Treasury reports for 5 years to congressional committees and public release of the report or an unclassified version.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Requires U.S. representatives at international financial institutions to oppose loans for projects with forced-labor risk, especially Xinjiang-linked state-owned or heavily state-influenced projects, and to report on implementation.
Key Policy Areas
Foreign Policy, Civil Rights, Financial Services
Primary Purpose
Requires U.S. representatives at international financial institutions to oppose loans for projects with forced-labor risk, especially Xinjiang-linked state-owned or heavily state-influenced projects, and to report on implementation.
Policy Domains
Substantive provisions
Identified Gains
- Uyghur workers
- Forced labor victims
- Human rights advocates
- Congressional foreign affairs committees
Identified Costs
- Department of the Treasury
- U.S. Executive Directors at international financial institutions
- International financial institutions
- Xinjiang state-owned entities
- Borrowers with forced-labor-risk projects
Sponsors
Legislative Progress
In CommitteeReferred to the House Committee on Financial Services.
Introduced in House
Mr. Subramanyam (for himself, Mr. Nunn of Iowa, Mr. Krishnamoorthi, …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Forced labor victims, Human rights advocates, Uyghur workers
International Finance Corporation, International financial institutions
Congressional-Executive Commission on China, Department of the Treasury, U.S. Executive Directors at international financial institutions
Positive-direction: Congressional-Executive Commission on China
Negative-direction: Department of the Treasury, U.S. Executive Directors at international financial institutions
Borrowers with forced-labor-risk projects, Xinjiang state-owned entities
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary"
- → Secretary of the Treasury
- "u_s_executive_director"
- → United States Executive Director at each international financial institution
- "international_financial_institution"
- → International financial institution as defined in section 1701(c)(2) of the International Financial Institutions Act
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology