No Funds for Forced Labor Act

HR 7125, the "No Funds for Forced Labor Act," directs the U.S. Treasury to instruct American representatives at international financial institutions (like the World Bank) to oppose loans for projects that use or risk using forced labor, particularly those linked to Xinjiang. It requires these institutions to vet projects for forced labor risks, detail mitigation efforts, and report annually to Congress on implementation. The bill specifically targets projects involving state-owned entities in Xinjiang or those with credible forced labor allegations, as cited in congressional reports. This policy change aims to prevent U.S.-aligned funding from supporting forced labor practices globally.