S.3248 - Turkey International Financial Institutions Act115th Congress (2017-2018)
|Sponsor:||Sen. Corker, Bob [R-TN] (Introduced 07/19/2018)|
|Committees:||Senate - Foreign Relations|
|Latest Action:||Senate - 07/26/2018 Placed on Senate Legislative Calendar under General Orders. Calendar No. 531. (All Actions)|
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Summary: S.3248 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (07/19/2018)
Turkey International Financial Institutions Act
This bill requires the Department of the Treasury to:
- oppose the extension by the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development of loans or financial or technical assistance to Turkey or to any entity for a project in Turkey, and
- work with other donor countries to develop a lending policy with Turkey that advances human rights.
Treasury may waive the IFC restriction for projects to diversify Turkey's energy resources and lessen its dependence on Russian or Iranian oil or gas.
- shall terminate after the President certifies to Congress that Turkey is no longer arbitrarily detaining or denying freedom of movement to U.S. citizens (including dual citizens) or locally employed staff of the U.S. mission to Turkey, and
- shall not apply to loans or financial or technical assistance for humanitarian purposes.