HR 7516

This bill, the No Funds for Forced Labor Act, requires the U.S. Treasury Secretary to instruct U.S. representatives at international financial institutions to oppose loans to projects that risk using forced labor. Specifically, it directs these representatives to actively work against lending to entities, particularly in the Xinjiang Uyghur Autonomous Region of China, that have been linked to forced labor practices. The bill also mandates international financial institutions to demonstrate due diligence in vetting projects for forced labor risks and to report on their efforts to mitigate those risks. Finally, it requires an annual report to Congress detailing the implementation of these provisions and the efforts to prevent forced labor through international lending.