Washington, DC – This week, the House of Representatives passed H.R. 4423, the No New Burma Funds Act, bipartisan legislation led by Representatives Young Kim (CA-40) and Nikema Williams (GA-05) to ensure U.S. taxpayer-backed international financing does not support Burma’s military junta, the Tatmadaw.
The No New Funds for Burma Act directs the U.S. Secretary of the Treasury to require the United States Executive Director at the International Bank for Reconstruction and Development (IBRD) to continue the pause on disbursements and new financing commitments to the Government of Burma until the Treasury Secretary determines conditions in Burma justify lifting the pause.
“For nearly five years, the Tatmadaw has terrorized Burmese civilians through violence, oppression, and fear. U.S. taxpayer-dollars have no place financing an illegitimate foreign military that terrorizes civilians, holds sham elections, and serves as a proxy for China and Russia,” said Rep Young Kim “I’m proud to see the House work in a bipartisan way to keep this pressure in place and stand firmly with the people of Burma. I urge the Senate to move quickly so we can get this across the finish line.”
Watch Rep. Kim speak in support of the bill on the House floor HERE.
