§9653 — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

After the end of each fiscal year, the Corporation must send a full report to the appropriate congressional committees about its work that year. The report must assess the economic and social development effects of projects under subchapter II, how those projects fit with U.S. and partner government aid programs, the Corporation’s links with other U.S. agencies, whether projects met human rights, environmental, labor, and social rules, how projects supported U.S. strategic and foreign policy goals, and the health of the Corporation’s portfolio. The portfolio overview must show funds committed and disbursed, default and recovery rates, capital mobilized, equity returns year‑on‑year, and any differences between expected and actual investment performance with an explanation. The report must also analyze project results in detail. It must review development goals and whether metrics and outcomes were met during and after support; whether strategic outcomes lasted after support ended; the amount of private assets and other public support mobilized versus Corporation support; projected versus actual private capital mobilized with who invested and what instruments were used; and breakdowns by country income group (less developed, advancing income, high‑income) for the past year and averaged over the last 5 fiscal years. It must show the aggregate contingent liability by income group under section 1433, explain risk appetite for harder development projects, describe CEO steps to encourage calculated risk‑taking, note any partner government arrangements for projects, give gender‑disaggregated outcome projections where practicable (for example on jobs, finance access, enterprise growth, and leadership), suggest ways to adapt projects, and say how lessons from monitoring and past reports were applied.

Title 22, §9653

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)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)the economic and social development impact, including with respect to matters described in subsections (d), (e), and (f) of section 9651 of this title, of projects supported by the Corporation under subchapter II of this chapter;

(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 11 So in original. Probably should be “departments”. 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)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