PRIA, Government Policy, Made Personal

Summary

After each fiscal year, the Corporation must send Congress a full report about what it did. The report must say how its projects affected economic and social development (including the specific topics listed in the law), how the projects fit with U.S. and partner-country aid programs, what links the Corporation has with other U.S. agencies, whether projects met human rights, environmental, labor, and social rules, how projects helped U.S. strategy and foreign policy, and how healthy the Corporation’s portfolio is. Portfolio information must cover funds committed and spent, defaults and recoveries, capital raised, equity returns, and any differences between how investments were expected to perform and how they actually did, with an explanation. The report must also analyze project results. It must review goals and metrics and say if those goals were met, including after projects end. It must report whether strategic projects keep producing results after support stops. It must show the private money brought in versus Corporation and other public support, both projected and actually mobilized, with who invested and what instruments were used, and compare projected to actual. It must break down support and contingent liability by country income groups for the past year and the last five years. The report must describe risk appetite for poorer countries and low-return but important sectors, steps the CEO took to encourage measured risk-taking, any partnerships with qualifying sovereign entities, projected development outcomes (gender-disaggregated when practicable), suggestions to strengthen projects, and whether lessons from monitoring and prior reports were applied.

Title 22, §9653

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)In general

After the end of each fiscal year, the Corporation shall submit to the appropriate congressional committees a complete and detailed report of its operations during that fiscal year, including an assessment of— (1)

(2)the extent to which the operations of the Corporation complement or are compatible with the development assistance programs of the United States and qualifying sovereign entities;

(3)the Corporation’s institutional linkages with other relevant United States Government department and agencies, including efforts to strengthen such linkages;

(4)the compliance of projects supported by the Corporation under subchapter II of this chapter with human rights, environmental, labor, and social policies, or other such related policies that govern the Corporation’s support for projects, promulgated or otherwise administered by the Corporation;

(5)the United States strategic, foreign policy, and development objectives advanced through projects supported by the Corporation; and

(6)the health of the Corporation’s portfolio, including an annual overview of funds committed, funds disbursed, default and recovery rates, capital mobilized, equity investments’ year on year returns, and any difference between how investments were modeled at commitment and how they ultimately performed, to include a narrative explanation explaining any changes.

(b)Elements

Each annual report required by subsection (a) shall include analyses of the effects of projects supported by the Corporation under subchapter II of this chapter, including—

(1)reviews and analyses of—

(A)the desired development impact and strategic outcomes for projects, and whether or not the Corporation is meeting the associated metrics, goals, and development objectives, including, to the extent practicable, in the years after conclusion of projects;

(B)whether the Corporation’s support for projects that focus on achieving strategic outcomes are achieving such strategic objectives of such investments over the duration of the support and lasting after the Corporation’s support is completed;

(C)the value of private sector assets brought to bear relative to the amount of support provided by the Corporation and the value of any other public sector support;

(D)the total private capital projected to be mobilized by projects supported by the Corporation during that year, including an analysis of the lenders and investors involved and investment instruments used;

(E)the total private capital actually mobilized by projects supported by the Corporation that were fully funded by the end of that year, including—

(i)an analysis of the lenders and investors involved and investment instruments used; and

(ii)a comparison with the private capital projected to be mobilized for the projects described in this paragraph;

(F)a breakdown of—

(i)the amount and percentage of Corporation support provided to less developed countries, advancing income countries, and high-income countries in the previous fiscal year; and

(ii)the amount and percentage of Corporation support provided to less developed countries, advancing income countries and high-income countries averaged over the last 5 fiscal years;

(G)a breakdown of the aggregate amounts and percentage of the maximum contingent liability of the Corporation authorized to be outstanding pursuant to section 1433 in less developed countries, advancing income countries, and high-income countries;

(H)the risk appetite of the Corporation to undertake projects in less developed countries and in sectors that are critical to development but less likely to deliver substantial financial returns; and

(I)efforts by the Chief Executive Officer to incentivize calculated risk-taking by transaction teams, including through the conduct of development performance reviews and provision of development performance rewards;

(2)an explanation of any partnership arrangement or cooperation with a qualifying sovereign entity in support of each project;

(3)projections of—

(A)development outcomes, and whether or not support for projects are meeting the associated performance measures, both during the start-up phase and over the duration of the support, and to the extent practicable, measures of such development outcomes should be on a gender-disaggregated basis, such as changes in employment, access to financial services, enterprise development and growth, and composition of executive boards and senior leadership of enterprises receiving support under subchapter II of this chapter; and

(B)the value of private sector assets brought to bear relative to the amount of support provided by the Corporation and the value of any other public sector support;

(4)to the extent practicable, recommendations for measures that could enhance the strategic goals of projects to adapt to changing circumstances; and

(5)an assessment of the extent to which lessons learned from the monitoring and evaluation activities of the Corporation, and from annual reports from previous years compiled by the Corporation, have been applied to projects.

Notes & Related Subsidiaries

Editorial Notes

Amendments

2025—Subsec. (a)(5), (6). Pub. L. 119–60, § 8755(1), added pars. (5) and (6). Subsec. (b)(1)(A) to (I). Pub. L. 119–60, § 8755(2)(A), added pars. (A) to (I) and struck out former pars. (A) and (B) which read as follows: “(A) the desired development outcomes for projects and whether or not the Corporation is meeting the associated metrics, goals, and development objectives, including, to the extent practicable, in the years after conclusion of projects; and “(B) the effect of the Corporation’s support on access to capital and ways in which the Corporation is addressing identifiable market gaps or inefficiencies and what impact, if any, such support has on access to credit for a specific project, country, or sector;”. Subsec. (b)(4), (5). Pub. L. 119–60, § 8755(2)(B) to (D), added par. (4) and redesignated former par. (4) as (5).

§9653 Annual Report

Summary

Title 22, §9653

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata