§262s Multilateral development bank procurement

Summary

The Treasury Secretary must tell each U.S. Executive Director at the multilateral development banks to make promoting U.S. exports a top priority. Those Directors must investigate complaints from U.S. bidders about how banks award contracts, check that the banks follow their procurement rules, and work to make sure U.S. firms are treated fairly. The Treasury must also assign an officer in its Office of International Affairs to handle bank procurement. That officer will be the link between the Treasury, the Department of Commerce, and the U.S. Executive Directors’ offices and will work with Commerce to improve chances for U.S. companies. “Multilateral development bank” includes the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Inter-American Development Bank, the Inter-American Investment Corporation, the Asian Development Bank, the African Development Bank, and the African Development Fund.