§262s Multilateral Development Bank Procurement

Summary

The Secretary of the Treasury must tell each United States Executive Director at the multilateral development banks to make helping U.S. companies sell goods and services a top priority. Those Directors must look into any complaints from U.S. bidders about how procurement contracts were awarded. They must check that the banks followed their own rules and that U.S. firms were treated fairly. The Treasury must also name an officer in its Office of International Affairs to handle multilateral development bank procurement. That officer will be the go-between for the Treasury, the Commerce Department, and the U.S. Executive Directors’ offices, and will work with Commerce to improve procurement chances for U.S. companies. Multilateral development bank includes: International Bank for Reconstruction and Development; International Development Association; International Finance Corporation; Inter-American Development Bank; Inter-American Investment Corporation; Asian Development Bank; African Development Bank; and African Development Fund.