French Hill : Reining in Wrong Incentives at the World Bank

WASHINGTON - Congressman French Hill (AR-02) issued the following statement after supporting the World Bank Accountability Act:

'The World Bank's extravagant and unaccountable spending practices have been in conflict with the values of Arkansans and Americans for far too long. This bill helps put an end to sending hard-earned American dollars to despots and corrupt regimes, stop the culture of measuring success not by 'how effective' but by 'how much,' and see these funds used how they were truly intended, which is to help lift individuals out of poverty and put them on the pathway to success.'

Click HERE to watch Rep. Hill's floor speech on the World Bank Accountability Act.

Background:

The World Bank Accountability Act, H.R. 3326, withdraws up to 30 percent of future appropriations for the World Bank's International Development Association (IDA) until the Secretary of the Treasury reports that the Bank has undertaken reforms to fight corruption, strengthen management accountability, and undermine violent extremism. This legislation also calls for the United States to oppose Bank assistance to IDA countries that knowingly fail to enforce UN Security Council sanctions against North Korea.