Detailed Summary

<b>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</b>

International Development Association Replenishment Act of 2008 - (Sec. 3) Amends the International Development Association Act to authorize U.S. participation in, and authorize appropriations for, contributions to the 15th replenishment of the resources of the International Development Association (IDA).

(Sec. 4) Authorizes the Secretary of the Treasury to negotiate the creation of the Anticorruption Trust Pilot Program (the Trust) at the International Bank for Reconstruction and Development (World Bank) whose purposes shall include: (1) assisting poor countries in fraud and corruption investigations and prosecutions related to World Bank loans, grants, or credit; and (2) determining whether such a program should be carried out at other multilateral development banks.

Directs the Secretary to provide for a system to: (1) monitor Trust fund disbursement and use; and (2) promote access to funds by poor countries in order to investigate and prosecute corruption and fraud linked to World Bank loans or projects.

Sets forth reporting requirements.

Authorizes appropriations.

(Sec. 5) Amends the International Financial Institutions Act to require greenhouse gas emissions impact assessments of a multilateral development bank borrower's proposal before the U.S. Executive Director of the bank may vote in favor of the proposal.

(Sec. 6) Requires the Secretary to report annually to specified congressional committees on greenhouse gas emissions associated with multilateral development bank actions.

(Sec. 7) Requires a report evaluating grievance mechanisms of such banks.

Status of the Legislation

Latest Major Action: 9/16/2008: Placed on Senate Legislative Calendar under General Orders. Calendar No. 969.

Points in Favor

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Points Against

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