To amend the International Financial Institutions Act to provide instructions with respect to the U.S. policy on co-financing arrangements at the multilateral development banks, and for other purposes.

HR 692 requires the U.S. Treasury Secretary to direct American representatives at multilateral development banks to oppose projects involving joint financing with the Asian Infrastructure Investment Bank (AIIB), unless the Treasury certifies two conditions: (1) the AIIB can provide low-cost loans and grants to the same countries that qualify for the World Bank's International Development Association (IDA) on comparable terms, and (2) the AIIB has a proven history of doing so. This bill directly affects how U.S. officials vote on co-financed projects at institutions like the World Bank. The policy change mandates specific U.S. voting behavior based on AIIB's capacity and track record, rather than automatically supporting joint projects. It does not alter the AIIB's operations but sets a condition for U.S. support.