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S. 1385 (115th): North American Development Bank Improvement Act of 2017

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jun 20, 2017.

North American Development Bank Improvement Act of 2017

This bill authorizes the Department of the Treasury to subscribe to and make a payment for 150,000 additional shares of the capital stock of the North American Development Bank.

Treasury shall direct the U.S. representatives to the Board of Directors of the bank to use the voice and vote of the United States to support the financing of projects related to:

environmental infrastructure relating to water pollution, wastewater treatment, water conservation, municipal solid waste, and related matters; natural gas, including natural gas pipelines and combined cycle power plants, with major emphasis on cross-border energy distribution and consumption and the energy security of the United States and Mexico; and the expansion or new construction of international land border crossings to facilitate the flow of goods and people across the international land border between the United States and Mexico while reducing wait times at border crossings and improving air quality by reducing pollution related to vehicular and commercial traffic. Treasury shall also direct such representatives to seek to require the bank to:

develop and implement efficiency improvements to streamline and accelerate the bank's project certification and financing process, and develop performance measures that demonstrate how the projects and financing approved by the bank are meeting its mission and providing value to the region near such border.