S 3248 · 115th Congress · International Affairs

Turkey International Financial Institutions Act

Introduced 2018-07-19· Sponsored by Sen. Corker, Bob [R-TN]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Placed on Senate Legislative Calendar under General Orders. Calendar No. 531.(2018-07-26)

Plain Language Summary

[AI summary unavailable — showing source text] 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. Such restrictions: 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

S. 3248, Turkey International Financial Institutions Act

Aug 15, 2018

As reported by the Senate Committee on Foreign Relations on July 26, 2018

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (5)

3 Democrats2 Republicans