The first section of the act provides its short title, stating that it shall be called the “International Financial Institution Improvements Act of 2024.”

The document outlines the table of contents for a legislative act that focuses on international financial institutions, multilateral development banks, and the International Monetary Fund. It covers various topics, including transparency, human rights, climate change, debt forgiveness, and anti-corruption measures.

The new section added to the International Financial Institutions Act requires the Secretary of the Treasury to direct the U.S. representatives at international financial bodies to make their projects and activities more transparent to the people in the countries where they operate. These efforts aim to help local citizens understand the benefits and purposes of these projects in simple terms.

The Secretary of the Treasury is directed to have the U.S. representatives at international financial organizations encourage these institutions to clearly explain their projects and activities in other countries. This is to help the local citizens understand and appreciate the benefits of these efforts.

The bill amends the International Financial Institutions Act to require U.S. representatives at international financial institutions to develop policies that ensure meaningful engagement with civil society organizations. These policies should include consultations with various groups, like women's rights and anti-corruption organizations, and the Secretary of the Treasury is directed to regularly meet with these organizations to discuss U.S. involvement in these institutions.

The section requires the Secretary of the Treasury to direct the U.S. Executive Director at international financial institutions to create policies encouraging genuine engagement and consultation with civil society organizations, including those focused on women's rights, economic justice, and anti-corruption. It emphasizes that the International Monetary Fund should particularly engage with experts on issues like inequality and climate change, and mandates that the Secretary meets with these organizations twice a year to gather their input on U.S. activities in these institutions.

The section outlines a requirement for the Secretary of the Treasury to report to Congress about debt restructuring and relief for developing countries. It also directs the U.S. to advocate for changes in the IMF's Debt Sustainability Framework to improve debt restructuring processes and transparency for low-income countries.

The section amends the Bretton Woods Agreements Act to rename sections 73 and 74 as sections 74 and 75 and allows the United States Governor of the International Bank for Reconstruction and Development to agree to remove a specific part of the Bank's Articles of Agreement.

The section permits the United States Governor of the Bank to accept an amendment that removes a specific part, Article III, Section 3, from the Bank's Articles of Agreement on behalf of the United States.

The amendment to the International Development Association Act exempts the Association's securities and guarantees from U.S. federal securities laws, requiring them to file reports with the Securities and Exchange Commission (SEC) instead. The SEC can suspend this exemption if necessary and must report on the amendment's impact to Congress.

The section exempts securities of the International Development Association from U.S. securities laws, treating them as special cases similar to government securities. The Securities and Exchange Commission (SEC) can suspend this exemption if necessary and must report any such actions to Congress.

The Secretary of the Treasury is required to instruct the U.S. representative at the International Bank for Reconstruction and Development to use their influence to oppose funding for projects rejected by U.S. agencies due to environmental, social, or human rights concerns, unless all concerns are proven resolved. Additionally, the Secretary must notify Congress whenever the Bank decides to support such projects.

The section requires the United States to use its influence at the International Bank for Reconstruction and Development and the International Development Association to find ways to make project planning and completion more efficient. The Secretary of the Treasury must report on the progress of identifying these improvements to Congress and then provide a follow-up report on efforts to implement them.

The section requires the U.S. Executive Directors at certain international banks to oppose funding projects in countries guilty of human rights abuses, particularly against LGBTQ+ individuals, unless the projects are inclusive of marginalized groups. However, the Secretary of the Treasury can waive this requirement if it's in the U.S. national interest.

The U.S. Treasury Secretary is directed to instruct the U.S. Executive Director at the International Development Association to vote against providing more funding to the Private Sector Window during any funding replenishment rounds.

The section mandates the Secretary of the Treasury to instruct the U.S. representatives at major international banks to advocate for a long-term economic development plan for Haiti, and requires a report to Congress on this topic within 180 days of the Act's enactment.

The Secretary of the Treasury must instruct the U.S. Executive Director at the International Development Association to push for a study on creating a consortium bank in the Caribbean. The purpose is to address financial access and banking issues within 180 days after the law is enacted.

The Secretary of the Treasury is required to provide Congress with quarterly reports about the actions of the World Bank related to compensating survivors of child sexual abuse linked to the Bridge Academies project and holding those responsible accountable. These reporting obligations will end three years after this law is enacted.

The section outlines how the United States intends to use its influence at the International Bank for Reconstruction and Development to promote the inclusion of detailed risk mitigation plans in shipping projects. These plans aim to reduce corruption and crime through measures like enhanced security personnel, improved tracking and information systems, compliance audits, community engagement, technological surveillance, and reporting programs for suspicious activities.

The Secretary of the Treasury is instructed to guide the U.S. representative at the World Bank to encourage the institution to work with others to prevent stolen assets from finding safe places and to help return these assets to their rightful owners.

The section mandates that the U.S. representative at the World Bank continue to stop the Bank from giving money or making new financial promises to Burma's government, following a military coup in 2021. However, this pause can be lifted if the U.S. Treasury Secretary believes it is in the public interest.

The Secretary of the Treasury is responsible for organizing meetings with government agencies, private sector, and civil society to decide which digital safety measures should be used for projects and funding by international financial institutions. Additionally, a report detailing these decisions and recommendations must be submitted to Congress within a year.

The section requires the Secretary of the Treasury to direct U.S. representatives at international development banks to use their influence to enhance the banks' independent accountability mechanisms, push for responsible project exit policies, and report annually to Congress on the status and handling of these cases.

The section instructs the Secretary of the Treasury to ensure that the U.S. representatives at global development banks work to prevent sexual exploitation and assault by improving policies and guidance. It also requires the Secretary to report to Congress on these banks' efforts and the number of relevant cases, including those involving minors, reported by civil society organizations.

The Secretary of the Treasury is required to direct the U.S. representative at each major international development bank to push for loan agreements, whether involving public or private projects, to be publicly available.

The section mandates the Secretary of the Treasury to ensure the U.S. Executive Director at multilateral development banks promotes transparency and fairness by using competitive bidding for public-private partnerships and opposes subsidies for non-competitive private investments. Additionally, it requires the publication of detailed investment data, including project costs and returns, to enhance accountability.

The Secretary of the Treasury is directed to have the U.S. Executive Director at each multilateral development bank urge the banks to adopt rules against reprisals in their policies and loan agreements, ensuring more accountability when reprisals happen.

The section requires the Secretary of the Treasury to report every two years to Congress on human rights abuse allegations at for-profit hospitals that receive funding from international financial institutions and to ensure these allegations are investigated and addressed. Furthermore, the Secretary is tasked with encouraging independent evaluations of these banks' healthcare investments to assess their impact on healthcare access and equality.

The section requires the Secretary of the Treasury to instruct U.S. representatives at international banks to push for these banks to openly share how they calculate the impact of their projects on climate change and explain the methods they use for these calculations.

The section of the bill directs the Secretary of the Treasury to encourage international financial institutions to support projects that help countries reduce their dependence on Russia for agricultural products like fertilizer and grain, while also boosting global grain supply resilience and private investment. It also allows the Secretary to waive these instructions if it benefits the United States, and specifies that this section will expire either five years after enactment or 30 days after the President reports to Congress that its termination is in the national interest.

The section directs the Secretary of the Treasury to instruct U.S. representatives at international financial institutions to promote projects that reduce countries' dependence on Russia for agricultural goods like fertilizer and grain, ensuring global grain supply resilience and encouraging private investment. Additionally, the Secretary has the power to waive these directives if it serves the national interest of the United States.

The section urges the U.S. Secretary of the Treasury to direct the U.S. Executive Director at the World Bank to push for the removal of certain labor indicators from the Bank's Business Ready Report. Specifically, it targets indicators that negatively assess countries for having high minimum wages and higher corporate taxes.

The bill instructs the U.S. representative at the International Monetary Fund (IMF) to push for a plan helping low-income or small countries temporarily stop paying back debts and accruing interest to the IMF if they face major climate-related disasters, until their economy recovers to a specified level or for five years, whichever is longer.

The U.S. Secretary of the Treasury will instruct the representative at the International Monetary Fund to support a program that lets low-income and small countries facing major climate disasters stop paying back loans and avoid extra interest on their debt for up to 5 years or until their economy recovers significantly.

The International Financial Institutions Act is amended to direct the U.S. Treasury Secretary to encourage the IMF to reduce loan conditions that limit spending on essential services like health and education, weaken regulations, or increase taxes in ways that unfairly impact the poorer population.

The Secretary of the Treasury is directed to tell the U.S. Executive Director at the International Monetary Fund to push for reducing or removing conditions on loans that might cut essential spending on health, education, or climate efforts, weaken important regulations, or unfairly burden populations with increased taxes or reduced subsidies.

The new section added to the International Financial Institutions Act outlines measures to combat corruption in international loans. It instructs the U.S. to push for anti-corruption commitments in loan agreements, involve local civil society in the process, ensure transparency, and hold governments accountable for their commitments, with public reporting of progress.

The section outlines instructions for the U.S. representative at the International Monetary Fund to promote including anti-corruption measures in lending agreements. These measures involve commitments by borrowing governments, participation from local organizations, increased transparency, and holding governments accountable for meeting their promises.

The Bretton Woods Agreements Act is updated to add a new section which instructs the U.S. Treasury Secretary to ensure that the United States' representative at the International Monetary Fund (IMF) supports the idea of appointing a Fifth Deputy Managing Director. This director should be from a low- or middle-income country, not including China, and should represent these nations at the IMF.

The Secretary of the Treasury is directed to instruct the U.S. representative at the International Monetary Fund (IMF) to push for a Fifth Deputy Managing Director position at the IMF. This position should be filled by someone from a low- or middle-income country (excluding China) to represent such nations.

The section outlines changes to certain U.S. laws that instruct the Secretary of the Treasury to advocate for the International Monetary Fund (IMF) to support two programs: the Resilience and Sustainability Trust and the Poverty Reduction and Growth Trust. It also modifies existing legal language regarding how funds are allocated within the IMF.

The section instructs the U.S. Secretary of the Treasury to direct the U.S. representative at the International Monetary Fund (IMF) to use their influence to support funding for the Resilience and Sustainability Trust and the Poverty Reduction and Growth Trust.

The section discusses an amendment to the Bretton Woods Agreements Act, allowing the United States Governor of the Fund to agree to a quota increase in the Fund, which corresponds to 41,497,100,000 Special Drawing Rights. This authority is contingent on funding being provided in advance through appropriations Acts.

The section authorizes the United States Governor of the Fund to agree to increase the U.S. quota in the Fund by 41,497,100,000 Special Drawing Rights, but this authority is only valid if the necessary funding is allocated in advance by Congress through appropriations.

The amendment to the Bretton Woods Agreements Act sets a condition for a specific amount of money (9,186,740,000 Special Drawing Rights) authorized for U.S. credit in relation to the International Monetary Fund. This amount will no longer be authorized once the new U.S. credit arrangement becomes effective, but this cannot happen before an increase in the U.S. quota outlined in another section becomes active.

The Secretary of the Treasury is required to submit an annual report to specific congressional committees about surcharges imposed by the International Monetary Fund (IMF) on its member countries and assess whether these surcharges impact their ability to repay IMF loans. This requirement will end one year after the IMF stops imposing such surcharges.

The African Development Fund Act has been updated to allow the United States to contribute $591 million to the Fund's sixteenth replenishment. This contribution is contingent on securing the necessary funds from Congress.

The United States has authorized a contribution of $591,000,000 to the Fund's sixteenth replenishment, and the same amount is approved to be appropriated by the Secretary of the Treasury to fulfill this contribution, with no limit on the fiscal year.

The bill allows the United States to purchase 800,000 more shares in the African Development Bank, but only if Congress approves the necessary funds beforehand. It also authorizes up to $7.8 billion for this purpose, but the funds can only be used if set aside in an appropriations act.

The section authorizes the United States Governor of the Bank to purchase up to 800,000 more shares of the Bank's capital stock, but this purchase can only happen if funds are allocated by Congress in advance. Additionally, Congress is allowed to appropriate $7.8 billion without a fiscal year limitation for paying for these shares through the Secretary of the Treasury.

The proposed amendment to the European Bank for Reconstruction and Development Act authorizes the U.S. Governor of the Bank to subscribe to 40,000 additional shares of the Bank's capital stock for the United States, with a total cost authorization of $439,100,000, contingent on future appropriations.