Wed, Mar 9, 2022
The U.S. Congress is at work this week to reach an agreement on an FY22 spending bill to avoid a government shutdown and provide much needed aid to Ukraine. The bill would also include annual funding for the International Financial Institutions (IFIs).
One item BWC hopes to see in the bill is an exemption for the World Bank’s International Development Association (IDA) from costly registration requirements with the U.S. Securities and Exchange Commission (SEC). If granted, this exemption will permit IDA to provide low-income countries nearly $700 million in additional resources. Read this explainer on the issue published by BWC’s Legislative Working Group.