Policy Update

Legislative Update: CARES Act


Thu, Apr 2, 2020


Over the past year, the Bretton Woods Committee has worked to raise awareness among Members of Congress and staffers on the critical role of U.S. leadership in the International Financial Institutions (IFIs) and to help shore up Congressional support for pending pieces of legislation. We welcome the passage of the CARES Act (Coronavirus Aid, Relief and Economic Security Act) which included expedited authorization for: 

  • African Development Fund replenishment 

  • African Development Bank capital increase 

The authorizations will provide these institutions with the critical resources and support they need to mount a robust and effective response to the coronavirus crisis.  

The Bretton Woods Committee is a member of the IFI Working Group (IFIWG), a diverse coalition of organizations with a shared interest in ensuring continued U.S. leadership in the World Bank and other multilateral development banks (MDBs). Click here to read our letter of appreciation to Congressional leadership.