1. Short title This Act may be cited as the Promoting Secure 5G Act of 2020 . 2. United States policy regarding international financial institution assistance with respect to advanced wireless technologies (a) In general The Secretary of the Treasury (in this section referred to as the Secretary ) shall instruct the United States Executive Director at each international financial institution (as defined in section 1701(c)(2) of the International Financial Institutions Act) that it is the policy of the United States to— (1) support assistance by the institution with respect to advanced wireless technologies (such as 5th generation wireless technology for digital cellular networks and related technologies) only if the technologies provide appropriate security for users; (2) proactively encourage assistance with respect to infrastructure or policy reforms that facilitate the use of secure advanced wireless technologies; and (3) cooperate, to the maximum extent practicable, with member states of the institution, particularly with United States allies and partners, in order to strengthen international support for such technologies. (b) Waiver authority The Secretary may waive subsection (a) on a case-by-case basis, on reporting to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that the waiver— (1) will allow the United States to effectively promote the objectives of the policy described in subsection (a)