PRIA, Government Policy, Made Personal

Summary

The Corporation must build a system to measure how well its projects under subchapter II are working and to help plan future projects. It must create an Impact Quotient, a metric system to judge expected and actual outcomes at both the project and portfolio level, guide fixes during a project’s life, and help with Congress notifications. The Corporation must also show its support adds to private investment, set standards and methods for financial performance and for measuring both projected and after-the-fact development impact (including the data needed to meet section 9653), and track environmental and social compliance using guidance made after broad consultation. The Corporation must set rules for monitoring its portfolio, including in-person site visits for each high-risk loan, loan guarantee, and equity project after money is first disbursed. The Corporation must be ready to explain these standards at any meeting of the Congressional Strategic Advisory Group. It must publish country-by-country information and performance measures regularly. In making the system, it must consult the Development Advisory Council under section 9613(i) and other stakeholders. The Corporation must keep enough full-time staff with relevant experience to monitor finances, measure impact, prepare annual reports (including info in section 9653(a)(6)), and ensure legal and ethics compliance. These staff must sit in one or more independent units that report to the CEO or Deputy CEO and have enough resources. Staffing or funding for these units cannot be cut unless the CEO certifies in writing to the right congressional committees that cuts are needed for operational exigency, statutory change, or budget shortfall, and the annual report explains the impact.

Title 22, §9652

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)In general

The Corporation shall develop a performance measurement system to evaluate and monitor projects supported by the Corporation under subchapter II of this chapter and to guide future projects of the Corporation.

(b)Considerations

In developing the performance measurement system required by subsection (a), the Corporation shall—

(1)develop a development impact measurement system, to be known as the Corporation’s Impact Quotient, which shall—

(A)serve as a metrics-based measurement system to assess a project’s expected outcomes and development impact on a country, a region, and populations throughout the sourcing, origination, management, monitoring, and evaluation stages of a project’s lifecycle;

(B)enable the Corporation to assess development impact at both the project and portfolio level;

(C)provide guidance on when to take appropriate corrective measures to further development goals throughout a project’s lifecycle; and

(D)inform congressional notification requirements outlining the Corporation’s project development impacts;

(2)develop a mechanism for ensuring that support provided by the Corporation under subchapter II of this chapter is in addition to private investment;

(3)develop standards for, and a method for ensuring, appropriate financial performance of the Corporation’s portfolio;

(4)develop standards for, and a method for evaluating and documenting the development impacts of the Corporation’s portfolio, including—

(A)measurement of the projected and ex post development impact of a project; and

(B)the information necessary to comply with section 9653 of this title;

(5)develop standards for, and a method for ensuring, appropriate monitoring of the Corporation’s compliance with environmental and social standards consistent with the guidance published by the Corporation following broad consultation with appropriate stakeholders to include civil society; and

(6)develop standards for, and a method for ensuring, appropriate monitoring of the Corporation’s portfolio, including standards for ensuring employees or agents of the Corporation identify and conduct in-person site visits of each high-risk loan, loan guarantee, and equity project, as necessary and appropriate, after the initial disbursement of funds.

(c)Required performance measures update for Congressional Strategic Advisory Group

At any meeting of the Congressional Strategic Advisory Group, the Corporation shall be prepared discuss the standards developed in subsection (b) for all ongoing projects.

(d)Public availability of certain information

The Corporation shall make available to the public on a regular basis information about support provided by the Corporation under subchapter II of this chapter and performance metrics about such support on a country-by-country basis.

(e)Consultation

In developing the performance measurement system required by subsection (a), the Corporation shall consult with the Development Advisory Council established under section 9613(i) of this title and other stakeholders and interested parties engaged in sustainable economic growth and development.

(f)Staffing for portfolio oversight and reporting

(1)Requirement to maintain capacity

The Corporation shall maintain an adequate number of full-time personnel with appropriate expertise to fulfill its obligations under this section and section 9653 of this title, including—

(A)monitoring and evaluating the financial performance of the Corporation’s portfolio;

(B)evaluating the development and strategic impact of investments throughout the program lifecycle;

(C)preparing required annual reporting on the Corporation’s portfolio of investments, including the information set forth in section 9653(a)(6) of this title; and

(D)monitoring for compliance with all applicable laws and ethics requirements.

(2)Qualifications

Personnel assigned to carry out the obligations described in paragraph (1) shall possess demonstrable professional experience in relevant areas, such as development finance, financial analysis, investment portfolio management, monitoring and evaluation, impact measurement, or legal and ethics expertise.

(3)Organizational structure

The Corporation shall maintain such personnel within 1 or more dedicated units or offices, which shall—

(A)be functionally independent from investment origination teams;

(B)be managed by senior staff who report to the Chief Executive Officer or Deputy Chief Executive Officer; and

(C)be allocated resources sufficient to fulfill the Corporation’s obligations under this section and to support transparency and accountability to Congress and to the public.

(4)Insulation from reductions

The Corporation may not reduce the staffing, funding, or organizational independence of the units or personnel responsible for fulfilling the obligations under this section unless—

(A)the Chief Executive Officer certifies in writing to the appropriate congressional committees that such reductions are necessary due to operational exigency, statutory change, or budgetary shortfall; and

(B)the Corporation includes in its annual report a detailed explanation of the impact of any such changes on its capacity to analyze and report on portfolio performance.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2025—Subsec. (b)(1). Pub. L. 119–60, § 8754(1)(A), added par. (1) and struck out former par. (1) which read as follows: “develop a successor for the development impact measurement system of the Overseas Private Investment Corporation (as such system was in effect on the day before October 5, 2018);”. Subsec. (b)(4). Pub. L. 119–60, § 8754(1)(C)(i), substituted “method for evaluating and documenting the development impacts” for “method for ensuring, appropriate development performance” in introductory provisions. Subsec. (b)(5), (6). Pub. L. 119–60, § 8754(1)(B), (C)(ii), (D), added pars. (5) and (6). Subsecs. (c) to (e). Pub. L. 119–60, § 8754(2), (3), added subsec. (c) and redesignated former subsecs. (c) and (d) as (d) and (e), respectively. Subsec. (f). Pub. L. 119–60, § 8754(4), added subsec. (f).

§9652 Performance Measures, Evaluation, and Learning

Summary

Title 22, §9652

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata