S 3248 · 115th Congress · International Affairs
Turkey International Financial Institutions Act
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Placed on Senate Legislative Calendar under General Orders. Calendar No. 531.(2018-07-26)
Plain Language Summary
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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 OfficeS. 3248, Turkey International Financial Institutions Act
Aug 15, 2018As 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