Gregory Meeks: “I thank the gentlewoman for yielding time. Today, I rise in opposition to H.R. 3326, the World Bank Accountability Act…”

“I thank the gentlewoman for yielding time. Today, I rise in opposition to H.R. 3326, the World Bank Accountability Act of 2017. Let me start by stating how important our Nation's contributions are to the World Bank's International Development Association, IDA. Those funds support the largest source of development finance for the world's poorest nations, including those in Africa, Latin America, and Asia. That is why, at the committee level, I voted in favor. Both Democrats and Republicans agreed that funding the World Bank's development finance for poor nations represented America's highest ideals and interests. And, naturally, I would support a bill like this, but we had agreed that it wasn't the last word, that we would work and there would be additions thereto and/or subtractions in reviewing the bill. In my estimation, looking at the bill, it also cedes too much authority to the executive, and those concerns have not been addressed in the final bill. For me, particularly in light of this administration's statements just a few days ago, it is troubling that it could be misused by this administration. As written, the President, who has indicated a complete disdain for poor nations and people of color, could withhold foreign assistance if the World Bank does not conform to his administration's policies.…”