Description:
H.R. 3326 would authorize the appropriation of almost $3.3 billion for the United States’ share of the eighteenth general replenishment of the resources of the International Development Association (IDA; a part of the World Bank). That replenishment agreement covers the three-year period ending in June 2020.
Based on information from the Department of the Treasury, CBO expects that the U.S. commitment would be funded with annual appropriations over the 2018-2020 period. The President has requested $1,097 million for the first tranche in 2018, and CBO estimates that the remainder would be provided in two additional tranches of $1,097 million each in 2019 and 2020. In total, CBO estimates that implementing H.R. 3326 would cost about $3.3 billion over the 2018-2022 period, assuming appropriation of the specified amounts.
Enacting H.R. 3326 would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply. CBO estimates that enacting H.R. 3326 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
Other provisions of the bill would require the Secretary of the Treasury to withhold amounts from IDA pending certain institutional reforms, to report to the Congress on the implementation of those reforms, and to oppose any assistance from the World Bank to governments that refuse to implement or enforce sanctions required under certain U.N. resolutions. CBO estimates that implementing those requirements would cost less than $500,000 over the 2018-2022 period; such spending would be subject to the availability of appropriated funds.
H.R. 3326 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would not affect the budgets of state, local, or tribal governments.
