No Funds for Forced Labor Act aims to prevent U.S. support for international financial institution loans to projects using forced labor.
The No Funds for Forced Labor Act mandates the Secretary of the Treasury to instruct U.S. Executive Directors at international financial institutions to oppose loans for projects posing a significant risk of using forced labor. It defines forced labor to include convict and indentured labor under penal sanctions. The Act also requires institutions to detail how they vet projects for forced labor risks and actions taken to mitigate such risks. The Secretary must report annually on implementation to specified congressional committees and make the report publicly available.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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